221 Franklin Rd Indianapolis, IN 46219-7734
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.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
ZO03 · Indianapolis, INIndianapolis. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.