For Sale
$3,400,000

5435 Emerson Way Indianapolis, IN 46226

100% Occupied, High NOI, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional four-story, 118,047 square foot mixed-use property in Indianapolis, Indiana, presents a compelling investment opportunity. Currently boasting 100% occupancy across 27 units ranging from 100 to 6,000 square feet, the property generates a substantial net operating income (NOI) of $344,854, yielding a pro-forma cap rate of 10.14%. The building, constructed in 1980, benefits from recent significant capital improvements, including a new roof installed in June 2024 with a 20-year warranty ($75,000 investment) and a completely replaced elevator in late 2023 ($90,000 investment). The property features a diverse tenant mix within its traditional, medical, and creative office spaces, all under gross lease agreements. Situated on a 118,047 square foot lot (APN: 49-07-09-105-021.000-800) in a high-traffic area, the property enjoys convenient access to major freeways, is only 15 minutes from downtown Indianapolis and 30 minutes from the airport. Its strategic location near a new $25 million Walmart, Starbucks, CVS, various restaurants, and schools ensures high visibility and strong tenant demand. Enhanced security features include 25 security cameras and 24/7 mobile surveillance. The asking price is $3,400,000, representing a price per square foot of $28.80 and a price per unit of $125,926. This property offers a rare blend of strong current performance and significant future growth potential in a rapidly developing area. The permitted zoning is ZO01.

Highlights

  • $3,400,000 asking price.
  • 10.14% cap rate.
  • $344,854 net operating income (NOI).
  • 100% occupancy across 27 units.
  • Recent capital improvements: new roof (June 2024, $75,000) and elevator replacement (late 2023, $90,000).

Property Details for 5435 Emerson Way

Property type
Retail properties, Office properties
Square Feet
118,047 SF
Year Built
1980
Stories
4
Units
27

Location Insight

City
Indianapolis
County
Marion
State
Indiana
Latitude
39.8530192
Longitude
-86.0862882

FAQs

What type of property is this?
Retail property - 100% Occupied, High NOI, Prime Location
Where is the retail property located?
The property is located at 5435 Emerson Way Indianapolis, IN.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: $3,400,000 asking price.; 10.14% cap rate.; $344,854 net operating income (NOI).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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5435 Emerson Way
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