Industrial Property for Sale in Indianapolis, IN

  • Price: $1.9M
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Indianapolis, IN 46234
  • Size: 16,680 SF
  • Year built: 1991

Description

Recently renovated by an international company, this showroom and warehouse facility combines European-inspired design with modern functionality. A remarkably successful adaptive reuse project, this former bowling alley has been transformed into a modern showroom, office, and warehouse facility while preserving the building's character. Just minutes from Lucas Oil Indianapolis Raceway Park, Interstate 74, Interstate 465, and Indianapolis International Airport. The 16,680 SF building sits on 2.78 acres on the west side of Indianapolis. The flexible showroom features 3,100 SF of office, conference, reception, and display space with abundant natural light and 13-foot ceilings. The remaining 13,700 SF is configured as modern warehouse and storage space with ceiling heights ranging from 20 to 23 feet. Zoned General Business with a future land-use designation within Hendricks County's Town Growth Area (Indianapolis mailing address). Paved lot for 65 Cars. Ideal for a distinctive corporate headquarters, showroom / warehouse, distribution center, race car design and production, or other commercial uses. Building SF: 16680 | Land Size: 2.78 Ac | Year Built: 1991 | Listing Type: FOR SALE

Market Context

This industrial in Indianapolis, IN is listed for sale at $1,899,000 across 16,680 SF. The building dates to 1991. It has been on the market for 4 days. Compare it against other industrial listings for sale in Indianapolis, IN — <a href="/search/sale/industrial/indiana/indianapolis">view the full market</a>.

As of Q1 2026, the Indianapolis industrial market showed a 7.0% vacancy rate, average asking rents near $6.35/SF/yr, and cap rates around 6.1%. Source: Consensus Q1 2026 market report.

Industrial market FAQ

What is the typical cap rate for industrial in Indianapolis?
About 6.1% as of Q1 2026, per Consensus.
Is the Indianapolis industrial market tightening or softening?
Vacancy is around 7.0% (Q1 2026).

Unified Estimate

Very Low Confidence

$34.38/SF – $46.51/SF

Mid: $40.44/SF

Total estimate for 16,680 SF: $674,539

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market tampa (similarity: 100%) with 3 comparable listings.

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