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3937-4050 N High School Rd 16,290 SF 100% Leased Retail Building Indianapolis, IN 46254 $2,500,000 ($153.47/SF) 11.90% Cap Rate
INVESTMENT HIGHLIGHTS
- High-visibility frontage along N High School Road.
- Prime location near I-465 with excellent regional access.
- Minutes from downtown Indianapolis and the airport.
- Growing commercial corridor with nearby restaurants, service providers, and retail outlets
EXECUTIVE SUMMARY
Located at the intersection of N High School Road and Gateway Drive, Westwood Plaza is a well-positioned retail center in the heart of Indianapolis’s west side. The property offers excellent visibility and accessibility, with dual street frontage and proximity to major thoroughfares including I-465. Westwood Plaza features a diverse mix of tenants such as Dollar General, La Estrella Night Club, and ROOK, creating a vibrant and active shopping environment. The center benefits from strong daily traffic and is surrounded by dense residential neighborhoods, schools, and local businesses that contribute to a steady customer base. With ample parking and a layout designed for convenience, Westwood Plaza continues to serve as a reliable destination for retail and service needs in the community.
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
16,290 SF
Building Class
C
Year Built
1973
Price
$2,500,000
Price Per SF
$153.47
Cap Rate
11.90%
NOI
$297,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.21
Lot Size
1.80 AC
Zoning
C-3 - supports high-intensity commercial use with large building footprints and significant parking requirements
Parking
110 Spaces (6.75 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
19,883
92,067
199,884
303,555
2029 Population
19,447
89,980
198,950
309,245
2024-2029 Projected Population Growth
-2.2%
-2.3%
-0.5%
1.9%
Median Age
31.8
34.0
35.1
34.9
College Degree + Higher
21%
27%
27%
20%
Daytime Employees
4,995
22,477
70,857
173,875
Total Businesses
668
2,861
6,886
16,900
Average Household Income
$55,282
$68,105
$72,403
$83,753
Median Household Income
$48,381
$53,859
$56,437
$65,508
Total Consumer Spending
$164M
$906.1M
$2B
$3.2B
2024 Households
7,810
37,431
78,700
118,426
Average Home Value
$171,051
$194,552
$202,221
$273,402
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 49-05-14-130-040.000-601 | Improvements Assessment | $483,700 |
| Land Assessment | $252,900 | Total Assessment | $736,600 |
PROPERTY TAXES
Parcel Number
49-05-14-130-040.000-601
Land Assessment
$252,900
Improvements Assessment
$483,700
Total Assessment
$736,600
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Contact the Sale Advisor
3937-4050 N High School Rd
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