Westfield, IN
Commercial Real Estate Market Trends & Data

$526 Avg asking sale price
$41 Avg asking lease rate
14,109 SF Avg unit lease size
27,617 SF Avg building size for sale
6.53% Average cap rate

Westfield's Demographic Profile

Westfield has 17,536 households and a median income of $105,171, providing context for rent absorption and tenant demand across retail and multifamily assets. A +12% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 48,603
# Households 17,536
Median age 38
Median household income $105,171
Avg household size 3.0
Renter-occupied housing units 3,663
5-year population change +12%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Westfield, IN

↻ Updated Monthly

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Nearby Retail Markets Avg Cost/SF Typical Size
Westfield $685 9,577 SF
Carmel $258 22,066 SF
Zionsville $473 13,221 SF
Noblesville $255 11,442 SF
Fishers $342 15,456 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Lawrence $95 8,043 SF 6.21%
Indianapolis $194 23,957 SF 11.70%
Kokomo $277 49,541 SF 13.80%

Commercial Properties For Sale in Westfield

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

15018 Greyhound Ct

Carmel, IN 46032

  • 5,403 SF Retail Building
  • $985,000
For Sale

The Nest Schools

Westfield, IN 46074

  • 10,875 SF Retail Building
  • 7.00% Cap Rate
  • $6,921,428
For Sale

Panera Bread

Westfield, IN 46074

  • 3,210 SF Retail Building
  • 5.35% Cap Rate
  • $4,725,200
For Sale

16405 Carey Rd

Westfield, IN 46074

  • 34.90 AC Lot
  • 1 Commercial Lot
  • $4,200,000
For Sale

19405 Little Chicago Rd

Noblesville, IN 46062

  • 1.92 AC Lot
  • 1 Commercial Lot
  • $1,000,000
For Sale

E 186th St. & Wheeler Rd.

Westfield, IN 46074

  • 8.75 AC Lot
  • 1 Commercial Lot
  • $5,687,500

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Westfield pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Westfield $526 27,617 SF
Carmel $264 28,523 SF
Sheridan $132 9,098 SF
Zionsville $392 24,487 SF

Regional Demographic Comparison

This comparison places Westfield alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Westfield or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Westfield 48,603 17,536 38 $105,171 3 3,663 12%
Carmel 108,425 41,303 41 $121,313 3 11,036 11%
Sheridan 3,948 1,560 40 $61,915 3 453 14%
Cicero 5,630 2,250 44 $75,256 3 399 11%
Zionsville 18,347 6,844 43 $144,945 3 1,793 12%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Westfield, IN and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Westfield

View All Commercial Real Estate For Sale in Westfield
Is Westfield a good market for a first-time commercial real estate investor?

Westfield offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Westfield?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Westfield. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Westfield?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Westfield. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Westfield compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Westfield. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Westfield acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Westfield, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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