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3849 N Richardt Ave 3849 N Richardt Ave 41,350 SF 100% Leased Flex Building Indianapolis, IN 46226 For Sale
Investment Highlights
- 41,350 SF building in a premier Indianapolis industrial corridor with immediate I-465 access
- Extensive recent renovations, including roof, HVAC, offices, and doors significantly reduce near-term capital expenditures
- Five tenants with a 3.40-year WALT provide stable, diversified cash flow and reduced investment risk
- Current rents are 18.90% below market, creating a clear value-add opportunity through future rent growth
Executive Summary
Colliers, as the exclusive advisor, is pleased to present the opportunity to acquire the unencumbered fee simple interest in 3849 North Richardt Avenue, located in Indianapolis, Indiana.
3849 N Richardt Avenue is a 41,350 SF infill light industrial building situated on 3.45 acres in Indianapolis’ East submarket, offering immediate access to I-465 and excellent regional connectivity. The recently renovated asset is fully leased to five tenants with a weighted average lease term of 3.40 years, providing investors with stable and diversified cash flow. With in-place rents averaging 18.90% below current market rates and limited new supply in this premier corridor, the property offers meaningful upside potential through future rent growth and strong tenant retention fundamentals.
3849 N Richardt Avenue is a 41,350 SF infill light industrial building situated on 3.45 acres in Indianapolis’ East submarket, offering immediate access to I-465 and excellent regional connectivity. The recently renovated asset is fully leased to five tenants with a weighted average lease term of 3.40 years, providing investors with stable and diversified cash flow. With in-place rents averaging 18.90% below current market rates and limited new supply in this premier corridor, the property offers meaningful upside potential through future rent growth and strong tenant retention fundamentals.
Property Facts
| Sale Type | Investment NNN | Year Built | 1989 |
| Property Type | Flex | Parking Ratio | 5.44/1,000 SF |
| Property Subtype | Light Distribution | Clear Ceiling Height | 16’ |
| Building Class | C | No. Dock-High Doors/Loading | 2 |
| Lot Size | 3.44 AC | No. Drive In / Grade-Level Doors | 3 |
| Rentable Building Area | 41,350 SF | Opportunity Zone |
Yes
|
| No. Stories | 1 | ||
| Zoning | SU1 primary and CS second - SU1 primary and C3 as secondary zoning. | ||
| Sale Type | Investment NNN |
| Property Type | Flex |
| Property Subtype | Light Distribution |
| Building Class | C |
| Lot Size | 3.44 AC |
| Rentable Building Area | 41,350 SF |
| No. Stories | 1 |
| Year Built | 1989 |
| Parking Ratio | 5.44/1,000 SF |
| Clear Ceiling Height | 16’ |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 3 |
| Opportunity Zone |
Yes |
| Zoning | SU1 primary and CS second - SU1 primary and C3 as secondary zoning. |
Amenities
- Bus Line
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 49-07-13-113-175.002-401 | Improvements Assessment | $884,200 |
| Land Assessment | $496,400 | Total Assessment | $1,380,600 |
Property Taxes
Parcel Number
49-07-13-113-175.002-401
Land Assessment
$496,400
Improvements Assessment
$884,200
Total Assessment
$1,380,600
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