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Auto Flex-Retail Property 3402 N Shadeland Ave
12,275 SF 76% Leased Retail Building Indianapolis, IN 46226 $1,850,000 ($151/SF) 10.30% Cap Rate
Investment Highlights
- Multiple Tenant Property, High Traffic Area, Interstate Access Nearby, Desired Zoning for Automotive Businesses
Executive Summary
Own/Operate your own auto themed flex suites property. Ideal for investor or Owner/User.
Property Highlights:
• 1.16 acres with 12,275 sf building
• Zoned C4
• Currently subdivided into 12 flex spaces (only one space is vacant currently)
• All tenants on 1 yr leases that allow 60 day Notice to Terminate
• Multiple restrooms, offices and a guest waiting area.
• Fenced rear storage lot
• Ample front & side parking
• Pole signage
• Current NOI $195,000/ CAP 11.8%
• Current OPEX $2.93/sf
• Asking Price $1,650,000
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$226,800
|
$18.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,840
|
$0.56
|
| Effective Gross Income |
$219,960
|
$17.92
|
| Taxes |
$8,944
|
$0.73
|
| Operating Expenses |
$20,535
|
$1.67
|
| Total Expenses |
$29,479
|
$2.40
|
| Net Operating Income |
$190,481
|
$15.52
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $226,800 |
| Annual Per SF | $18.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,840 |
| Annual Per SF | $0.56 |
| Effective Gross Income | |
|---|---|
| Annual | $219,960 |
| Annual Per SF | $17.92 |
| Taxes | |
|---|---|
| Annual | $8,944 |
| Annual Per SF | $0.73 |
| Operating Expenses | |
|---|---|
| Annual | $20,535 |
| Annual Per SF | $1.67 |
| Total Expenses | |
|---|---|
| Annual | $29,479 |
| Annual Per SF | $2.40 |
| Net Operating Income | |
|---|---|
| Annual | $190,481 |
| Annual Per SF | $15.52 |
Property Facts
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Fenced Lot
- Mezzanine
- Pylon Sign
- Security System
- Storage Space
Space Availability
- Space
- Size
- Space Use
- Position
- Available
$2000/month. Two offices (10'x15', 12'x16') with private restroom available for immediate occupancy. Recently remodeled. Lease includes all utilities and taxes including heat, AC, electricity, WIFI, trash removal, snow removal, and property maintenance. All you need is liability insurance! Includes access to common areas which include a customer restroom and lounge. Short term leases available.
$2000/month for 15' x 50' auto service bay. Faces Shadeland Ave with over 22,000 cars/day. Lease includes all utilities and taxes including electricity, gas heat, wifi, water, sewer, low pressure air outlets in the bay, water in the bay, trash collection, snow removal, and basic grounds maintenance. Also includes access to technician bathroom, customer lounge and bathroom. Bay currently does not have an auto lift installed as it has been used by a detail business. Short term lease available.
600 square feet (20’ x 30’) of flex space with an outside door. Would be a great workshop. Heated. Tenant also has access to a technician bathroom and customers have access to customer lobby with a bathroom. $1500 per month on a 12 month lease or $1575 month to month. One month security deposit required.
700 square feet (20’ x 35’ of flex space that adjoins available offices. Heated. Tenant also has access to a technician bathroom and customer have access to lobby with bathroom. $1500 per month on a 12 month lease or $1575 month to month. One month security deposit required.
50 Square Feet (13’ x 37’) heated automotive service bay that is extra deep allowing for 2 vehicles to be inside and faces Shadeland Avenue. $1,800/month for 12 month lease or $1,875 month to month. One month security deposit required
| Space | Size | Space Use | Position | Available |
| 1st Floor | 450 SF | Office/Retail | - | Now |
| 1st Floor | 750 SF | Retail | - | Now |
| 1st Floor | 600 SF | Flex | - | Now |
| 1st Floor | 700 SF | Flex | - | Now |
| Auto Service Bay | 450 SF | Flex | - | Now |
1st Floor
| Size |
| 450 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size |
| 750 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size |
| 600 SF |
| Space Use |
| Flex |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size |
| 700 SF |
| Space Use |
| Flex |
| Position |
| - |
| Available |
| Now |
Auto Service Bay
| Size |
| 450 SF |
| Space Use |
| Flex |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 450 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
$2000/month. Two offices (10'x15', 12'x16') with private restroom available for immediate occupancy. Recently remodeled. Lease includes all utilities and taxes including heat, AC, electricity, WIFI, trash removal, snow removal, and property maintenance. All you need is liability insurance! Includes access to common areas which include a customer restroom and lounge. Short term leases available.
1st Floor
| Size | 750 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
$2000/month for 15' x 50' auto service bay. Faces Shadeland Ave with over 22,000 cars/day. Lease includes all utilities and taxes including electricity, gas heat, wifi, water, sewer, low pressure air outlets in the bay, water in the bay, trash collection, snow removal, and basic grounds maintenance. Also includes access to technician bathroom, customer lounge and bathroom. Bay currently does not have an auto lift installed as it has been used by a detail business. Short term lease available.
1st Floor
| Size | 600 SF |
| Space Use | Flex |
| Position | - |
| Available | Now |
600 square feet (20’ x 30’) of flex space with an outside door. Would be a great workshop. Heated. Tenant also has access to a technician bathroom and customers have access to customer lobby with a bathroom. $1500 per month on a 12 month lease or $1575 month to month. One month security deposit required.
1st Floor
| Size | 700 SF |
| Space Use | Flex |
| Position | - |
| Available | Now |
700 square feet (20’ x 35’ of flex space that adjoins available offices. Heated. Tenant also has access to a technician bathroom and customer have access to lobby with bathroom. $1500 per month on a 12 month lease or $1575 month to month. One month security deposit required.
Auto Service Bay
| Size | 450 SF |
| Space Use | Flex |
| Position | - |
| Available | Now |
50 Square Feet (13’ x 37’) heated automotive service bay that is extra deep allowing for 2 vehicles to be inside and faces Shadeland Avenue. $1,800/month for 12 month lease or $1,875 month to month. One month security deposit required
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 49-07-23-122-031.000-700 | Total Assessment | $297,600 |
| Land Assessment | $166,800 | Annual Taxes | $8,944 ($0.73/SF) |
| Improvements Assessment | $130,800 | Tax Year | 2023 |
PROPERTY TAXES
Presented by
Auto Flex-Retail Property | 3402 N Shadeland Ave
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