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Property profile & analytics
OFF-MARKET Estimated value $11,130,000
Warehouses

221 Franklin Rd Indianapolis, IN 46219-7734

768,000 SF 29.61 ac lot Built 1972
Entity Owned 20-yr Hold Absentee Owner Free & Clear
Property ID
US31-0861006
Property summary
AI-generated overview

This exceptional Indianapolis industrial property, located at 221 S Franklin Rd, 46219, offers a total of 204,800 square feet of versatile space, ideal for manufacturing, distribution, or warehousing. The property features two available suites: Suite 100 encompasses 128,000 square feet, including 4,550 square feet of office space, and boasts 14 loading docks and one drive-in door (12' x 14'). Suite 200 offers 76,800 square feet with build-to-suit office options and 5 loading docks. Both suites benefit from a generous 40' x 40' column spacing and impressive 24-25 foot clear ceiling heights. The building is equipped with an ESFR sprinkler system and heavy power. The property is zoned I-3 and serviced by all city utilities. Strategically located less than one mile from I-465, this property provides excellent access to major transportation routes. The entire space is available for lease at $4.25 per square foot, NNN, with estimated 2024 operating expenses of $1.69 per square foot. Cross street is E Washington Street. This is a multi-tenant property.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1972
Construction TYPE NOT SPECIFIED
Total area 768,000 SF
Lot 29.61 ac (1,290,029 SF)
Zoning code ZO03
APN 49-09-07-115-001.000-700
UPID US31-0861006
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Hotline Freight Systems Freight Service Logistics Company
  • Horner Toshiba Warehouse Warehouse & Storage
  • GXO Logistics Company Freight Service
  • HF&W Warehouse & Storage
  • Sherwin-Williams Commercial Paint Store Hardware & Home Improvement Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$8.95M
Blend (final) Blend
$11.13M
Owner & transaction history
Dct Franklin Road LLC · 20 yrs held
Dct Franklin Road LLC
since 2006
1 recorded transaction
2006
Price N/A
Zoning & alternative use
ZO03 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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