Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2505 N Sherman Dr Indianapolis, IN 46218
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2505 N Sherman Dr Indianapolis, IN 46218

    View on Map
    • Commercial land
    For Lease
    $12,000/Mo
    View Listing →
    5.4 Acres Outdoor Storage Space For Lease
    $12,000/Mo

    5.4 Acres Outdoor Storage Space

    Divisible 5.4 acre outdoor storage space for lease.

    2505 N Sherman Dr, Indianapolis, IN 46218
    View Listing
    Property ID
    US31-3286576
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 2505 N Sherman Dr

    Property type
    Commercial land
    Property subtype
    Industrial land

    Description

    Roughly 5.4 acres remaining (divisible) of outdoor storage space in near eastside Indianapolis is available for lease. It is zoned I-2, and the lot is covered with gravel. There is about 320' of frontage on N Sherman Dr. The property has quick access to I-70 (2 miles away) and I-465 (5 miles away).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.102109
    Latitude
    39.804402

    Comparable in this City

    • Contact for pricing

      Commercial Land for Lease

      Outlot available for ground lease in a densely populated area.
      5380 38Th St, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Brightwood Plaza Endcap Sublease

      Retail/office space available for sublease in Brightwood Plaza.
      2435 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Indianapolis Specialty Property For Rent

      Specialty property available for rent in Indianapolis, Indiana.
      1761 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • Contact for pricing
      4,000 SF

      Industrial Units Available For Lease

      Multiple industrial units available for lease with highway access.
      4805 Punjab Dr, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Indianapolis Industrial Buildings For Lease

      Ten industrial buildings for lease on 33.95 acres.
      1761 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Retail Space with Drive-Thru

      Retail space with drive-thru available for sublease in Indianapolis.
      2435 N Sherman Dr, Indianapolis, IN 46218
      View Details

    Similar Nearby for Sale

    • $69,000
      0.13 Acres

      Downtown Indianapolis Land Opportunity

      Land available in downtown Indianapolis with development opportunities.
      1728 Sheldon St, Indianapolis, IN 46218
      View Details
    • $299,000
      0.52 Acres

      Indianapolis Church and Land Opportunity

      Church with development potential in a thriving commercial district.
      2044 N Olney St, Indianapolis, IN 46218
      View Details
    • $69,000
      0.13 Acres

      Downtown Indianapolis Land Opportunity

      Residential lots in downtown Indianapolis with development opportunities.
      1722 Sheldon St, Indianapolis, IN 46218
      View Details
    • Contact for pricing
      Pending

      Indianapolis Residential Lots For Sale

      Residential lots in downtown Indianapolis location with development opportunities.
      1929 Roosevelt Ave, Indianapolis, IN 46218
      View Details
    • $69,000
      0.13 Acres

      Downtown Indianapolis Residential Lots

      Residential lots in downtown Indianapolis with development opportunities.
      1734 Sheldon St, Indianapolis, IN 46218
      View Details
    • $299,000
      3,600 SF

      Indianapolis Industrial Flex Building For Sale

      Industrial flex building with highway visibility, suitable for various businesses.
      5252 E 24Th St E, Indianapolis, IN 46218
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land for Lease

      Outlot available for ground lease in a densely populated area.
      5380 38Th St, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Indianapolis Industrial Buildings For Lease

      Ten industrial buildings for lease on 33.95 acres.
      1761 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Retail Space with Drive-Thru

      Retail space with drive-thru available for sublease in Indianapolis.
      2435 N Sherman Dr, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Versatile Industrial/Flex Space Available

      Industrial/flex space with secured outdoor storage, convenient location, renovated in 2025.
      5702 Massachusetts Ave, Indianapolis, IN 46218
      View Details
    • Contact for pricing

      Freestanding Retail Storefront for Sublease

      Former Family Dollar Store with high visibility and easy access.
      5285 E 38Th St, Indianapolis, IN 46218
      View Details
    • $2,600 /Mo
      3,170 SF

      Iconic Restaurant Space For Lease

      High-visibility restaurant space with existing infrastructure and free rent incentive.
      5111 E 21St St, Indianapolis, IN 46218
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2505 N Sherman Dr
    Indianapolis, IN 46218
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!