Indianapolis, IN Restaurants for Rent & Lease

Updated: Apr 27

Restaurant Space with Patio

3131 Shelby Street, Indianapolis, IN 46227

$3,500/Mo

0.37 AC lot

More than 3,000 square feet with additional basement storage
Commercial kitchen includes hood, prep stations, grill, fryer, handwashing sink, and 3‑bay sink
Bar area with 3‑drawer cooler
Men’s and women’s restrooms
Small patio and stage for live entertainment

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Updated: Apr 17

Restaurant Space with Bar Infrastructure

5111 E 21st Street, Indianapolis, IN 46218

$2,600/Mo

0.22 AC lot

Restaurant space on a 0.22‑acre parcel
Existing bar setup and related infrastructure remain
Commercial zoning
Positioned just off a major highway exit
Ample parking on site

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Restaurant Space with Bar Infrastructure

5111 E 21st St, Indianapolis, IN 46218

$2,600/Mo

3,170 sqft

Restaurant premises near a major highway exit with parking and existing bar-related improvements.

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Turnkey Restaurant/Retail Space Available

1301 E Washington St, Indianapolis, IN 46202

$13 SF/Yr

3,290 sqft

Move-in ready restaurant/retail space in Indianapolis with high visibility.

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Second-Generation Restaurant Retail Space

725 Massachusetts AV, Indianapolis, IN 46204

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14,382 sqft

Retail space with second-floor 20'+/- ceiling height, on-site parking, and an exterior patio.

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Restaurant Building

6243 W Washington St, Indianapolis, IN 46241

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3,138 sqft

Restaurant improvements support backfill or redevelopment along W Washington St., minutes from Indianapolis International Airport.

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Former Restaurant Redevelopment Site

6243 West Washington Street, Indianapolis, IN 46241

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3,138 sqft 0.81 AC lot

Former Steak ’n Shake 3,138 SF restaurant building on 0.81 acres, on a high-traffic Washington St corridor.

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Drive-Through Restaurant Building

6450 E 82nd St, Indianapolis, IN 46250

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3,200 sqft 0.72 AC lot

3,200 SF drive-through restaurant building with parking and pylon signage for efficient customer access.

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Drive-Thru Restaurant Building

3924 Lafayette Rd, Indianapolis, IN 46254

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3,200 sqft

Former restaurant drive-thru building with dedicated parking, positioned on a high-traffic corridor near major retail anchors.

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Drive-Through Restaurant Building

7218 W 10th St, Indianapolis, IN 46214

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3,300 sqft

3,300 SF drive-thru restaurant building on about 1.01 acres with a pylon sign and 65 parking spaces.

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Monon 46 Restaurant Space

1121 East 46th Street, Indianapolis, IN 46205

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3,500 sqft

Flexible dining venue with tall ceilings, roof exhaust, parking, and direct Monon Trail access.

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Drive-Through Restaurant Building

6010 W 86 St, Indianapolis, IN 46278

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3,314 sqft 1.17 AC lot

Restaurant space includes an existing drive-through and optional furniture and equipment.

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Drive-Through Restaurant Building

7218 W 10th St, Indianapolis, IN 46214

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3,300 sqft 1.01 AC lot

3,300 SF drive-thru restaurant building with pylon signage and 65 parking spaces on about 1.01 acres.

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Restaurant/Retail Space Near Hospitals

930 W. 10th St. |, Indianapolis, IN 46202

$27.50 SF/Yr

21 sqft

Retail/restaurant space near 16Tech, hospitals, and universities with ample parking.

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Historic Office Building with Elevator Access

409 Massachusetts Ave, Indianapolis, IN 46204

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3,964 sqft

Historic 1900 building with creative interior finishes and direct elevator access for available office floors.

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Freestanding Restaurant with Drive-Through

4715 E 96th St, Indianapolis, IN 46240

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3,126 sqft

Freestanding restaurant offering 3,126 SF and a drive-through with strong visibility to 32,000 VPD.

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Downtown Restaurant with Rooftop Patio

42 W South St, Indianapolis, IN 46225

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11,864 sqft

Three-story restaurant space with a built-in kitchen and rooftop patio for indoor/outdoor hospitality flow.

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Restaurant Space Near Convention Center

121 West Maryland Street, Indianapolis, IN 46225

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2,830 sqft

2,830 SF former restaurant space with outdoor seating area.

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Restaurant Space with Mezzanine

324 W Morris St, Indianapolis, IN 46225

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7,700 sqft

Restaurant leasing opportunities offer I-70 exposure, strong access, and proximity to Lucas Oil Stadium.

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Freestanding Restaurant with Drive Thru

4715 E 96th St, Indianapolis, IN 46240

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3,126 sqft

3,126 SF restaurant with drive-thru and roundabout access.

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Retail and Restaurant Space Available

530 Massachusetts Ave, Indianapolis, IN 46204

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3,583 sqft

Mixed-use property with retail and restaurant space for rent.

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Restaurant Space with Drive-Thru

3750 North Illinois Street, Indianapolis, IN 46208

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3,312 sqft

3,312 SF restaurant space with drive-thru on 0.78 acres.

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Second-Generation Restaurant Space

3367 East 86th Street, Indianapolis, IN 46240

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Existing restaurant improvements include a hood and support continued food-service use.

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Renovated Restaurant Space

621 Fort Wayne Ave, Indianapolis, IN 46204

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1,890 sqft

CBD3-zoned corner space with existing furniture, fixtures, and equipment for restaurant operations.

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Indianapolis, IN Restaurants Lease Rates & Market Statistics

Explore 46 Restaurants for lease in Indianapolis, IN on Realmo, a commercial real estate exchange covering the Indianapolis area. The current inventory totals 136,721 square feet of properties — an average of ~2,950 SF per listing.

Asking lease rates for Restaurants in Indianapolis start at $9.84 SF/Yr, average $16.78 SF/Yr, and reach $27.50 SF/Yr at the top of the market. That's a 3x spread between entry-level and premium space, making side-by-side comparison of asking rents and lease terms essential. The local average of $16.78 SF/Yr is in line with the Indiana state average.

By space type, the market includes 20 conventional restaurants, 15 drive through restaurants and 10 other restaurants — conventional restaurants typically offer the lowest entry point, while other restaurants command the highest rates.