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    722 Ketcham St Indianapolis, IN 46222

    Sponsored
    For Sale
    $1,200,000

    11,362 SF Flex Space, 3 Buildings

    Property size:
    11,362 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional Indianapolis industrial property, situated on a 1.12-acre fully fenced lot, offers 11,362 square feet of versatile space across three buildings. The property is zoned I2 and presents a compelling opportunity for owner-occupancy or investment. Building 1, a 5,658-square-foot structure, is currently leased until July 31, 2025. This building features a fully insulated warehouse with a five-ton crane, a drive-in door, and a dock-high door, along with 800 square feet of office space, 800 AMP 3-phase power, and upper and lower levels including separate offices, a conference room, and a kitchen. Building 2 comprises 4,066 square feet of climate-controlled space, including a private office, conference room, IT room, and restroom, a drive-in bay, two overhead doors, and 3-phase power. A new roof and full insulation enhance energy efficiency. Building 3, a newly renovated 1,630-square-foot space, offers climate control, new HVAC, full insulation, and two drive-in doors. Water lines were installed in September 2024. The entire property benefits from fiber connectivity, a security system, and cameras. The asking price for this turnkey industrial property is $1,200,000. Two dock-high doors are available across the buildings. Net rentable space totals 5,704 square feet. The property underwent renovations in 2024.

    Property Features for 722 Ketcham St

    General Information

    Property type
    Flex space
    Square Feet
    11,362 SF
    Lot Size
    48,787 SF

    Building Details

    Year Renovated
    2024
    Buildings
    3

    We can help!

    Listing Contact
    Melissa Blackwell
    Melissa Blackwell

    Learn more

    Property Insight Report

    HighLights

    • 11,362 SF fully fenced industrial property.
    • Buildings 2 & 3: Newly renovated.
    • 5,658 SF Building 1: Leased until 7/31/2025; fully insulated warehouse with 5‑ton crane, one drive‑in, one truck dock; 800 SF office space (upper & lower levels) with separate offices, conference room, and kitchen; 800 amp, 3‑phase power.
    • 4,066 SF Building 2: One private office, conference room, IT room, restroom (all climate‑controlled); one drive‑in bay, two overhead doors, 3‑phase power; overhead heater; new roof, fully insulated.
    • 1,630 SF Building 3: Newly renovated; climate‑controlled, new HVAC, fully insulated; two drive‑ins; waterline installed 9/2024.
    • 1.12‑acre site; fiber optics, security system, and cameras.
    Property Profile Location Intelligence

    Current Use by Public Records

    RINO Equipment & Rental Equipment Rental Agency Old Grass LLC Boat Storage Facility

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.208640263261
    Latitude
    39.777153203083

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    FAQs

    What type of property is this?
    Flex space - 11,362 SF Flex Space, 3 Buildings
    Where is this flex space located?
    The property is located at 722 Ketcham St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 11,362 SF fully fenced industrial property.; Buildings 2 & 3: Newly renovated.; 5,658 SF Building 1: Leased until 7/31/2025; fully insulated warehouse with 5-ton crane, one drive-in, one truck dock; 800 SF office space (upper & lower levels) with separate offices, conference room, and kitchen; 800 amp, 3-phase power.
    Request Owner's contact information
    722 Ketcham St Indianapolis, IN 46222
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    Indianapolis, IN 46222
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    722 Ketcham St Indianapolis, IN 46222
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    We can help!
    Listing Contact
    Melissa Blackwell
    Melissa Blackwell
    Real Estate License ID: RB15000222
    Learn more
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