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    7040 South Franklin Rd Indianapolis, IN 46259

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    7040 South Franklin Rd Indianapolis, IN 46259

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    • Commercial real estate
    • 5.00 lot acres
    For Sale
    $999,000
    View Listing →
    Prime Land Parcel For Development For Sale
    $999,000

    Prime Land Parcel For Development

    5-acre parcel ideal for commercial development in growing area.

    7040 South Franklin Road, Indianapolis, IN 46259
    View Listing
    Property ID
    US31-3557159
    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 real estate

    Property Details for 7040 South Franklin Rd

    Lot size
    5.00 lot acres
    Property type
    Commercial real estate
    APN
    49-16-18-121-004.000-300

    Description

    This exceptional 5-acre commercial land parcel, located at 7040 S Franklin Rd, Indianapolis, IN 46259, presents a remarkable investment opportunity in Marion County's thriving Franklin Township. Zoned DA, this property offers significant potential for diverse commercial development, including but not limited to senior housing, retail spaces, multi-family units, or medical offices. The asking price is $1,250,000, translating to $250,000 per acre. Its strategic location south of a recently constructed Kroger development and near other retail establishments ensures high visibility and accessibility. The surrounding area is experiencing rapid residential growth, with new single-family homes and apartment complexes under construction, creating a vibrant and expanding community. While rezoning may be required, the property's prime location and the area's dynamic growth trajectory make it an attractive proposition for developers seeking to capitalize on the burgeoning commercial market in this rapidly developing area. The APN is 49-16-18-121-004.000-300. All information is deemed reliable but not guaranteed; buyers are urged to conduct independent due diligence.

    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
    Marion
    State
    Indiana
    Longitude
    -86.018535339618
    Latitude
    39.664655032365

    Comparable in this City

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      40.5 Acres Zoned I-3

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      Prime Land Parcel For Development

      5-acre parcel ideal for commercial development in growing area.
      7040 South Franklin Rd, Indianapolis, IN 46259
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      Industrial Land Parcel For Sale

      40.50 acre industrial land with I-74 access.
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      12.67 Acre Site Available

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      Franklin Township Development Land

      Nearly 24 acres of land prime for development.
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      Pittsboro Development Land For Sale

      49.11 acres of development land in rapidly growing Pittsboro.
      County Road 900 N, Pittsboro, IN 46259
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    • $1,595,000

      40.5 Acres Zoned I-3

      40.5 acre industrial land with I-3 zoning, near I-74.
      10535 East Mcgregor Rd, Indianapolis, IN 46259
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    • $999,000

      Prime Land Parcel For Development

      5-acre parcel ideal for commercial development in growing area.
      7040 South Franklin Rd, Indianapolis, IN 46259
      View Details
    • Contact for pricing

      Industrial Land Parcel For Sale

      40.50 acre industrial land with I-74 access.
      10535 E Mcgregor Rd, Indianapolis, IN 46259
      View Details
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      12.67 Acre Site Available

      12.67 acre site in Franklin Township, Indianapolis.
      7916 E Southport Rd, Indianapolis, IN 46259
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      60-Acre Multi-Use Development Land

      60-acre multi-use development land with high traffic location.
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      Retail Space in Newly Constructed Center

      Retail suites available in a newly constructed neighborhood center.
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      Starbucks Endcap Retail Space

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    View Listing
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    Indianapolis, IN 46259
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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
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