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227 W 38th St 1,440 SF of Retail Space Available in Indianapolis, IN 46208
Highlights
- Capitalizes on a combined intersection volume of 41,000+ VPD at the W 38th St and N Meridian St corridor nexus.
- One of the few remaining parcels of this type in high-density Marion County with strong TOD synergy
- Rare freestanding 1,440 SF two-bay automotive building with auto-use variance on a highly visible 0.24-acre corner parcel
- Ground-lease / redevelopment option also available
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 1,440 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) |
1st Floor
Features a standalone 1,440 SF commercial building equipped with two (2) functional drive-in service bays.
- Lease rate does not include utilities, property expenses or building services
- Central Air and Heating
- 2 drive-in bays optimized for same-day automotive
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 1,440 SF | Gross Leasable Area | 1,673 SF |
| Property Type | Retail | Year Built | 1975 |
| Property Subtype | Auto Repair |
| Total Space Available | 1,440 SF |
| Property Type | Retail |
| Property Subtype | Auto Repair |
| Gross Leasable Area | 1,673 SF |
| Year Built | 1975 |
About the Property
FOR LEASE BY OWNER Prime retail leasing opportunity for a freestanding automotive facility located at 227 W 38th St, Indianapolis, IN. This high-visibility corner site sits right at the intersection of W 38th St and Graceland Ave, positioned perfectly within a dense, high-traffic retail corridor directly adjacent to the TDO Meridian Street vein. The property boasts an unmatched daily traffic volume of 41,000+ vehicles per day (VPD), offering maximum customer exposure and brand visibility. Convenient access from three directions: the main street, the side street, and the rear alley. Located near the Indiana State Fairgrounds which attracting more than 850,000 annual visitors Retail Synergy: Adjacent to Shell; near Express Car Wash, McDonald's, Subway, and Family Dollar; and within the established W. 38th Street retail corridor featuring AutoZone, Taco Bell, Popeyes, White Castle, Walgreens, Rally's, Domino's, and Dunkin'. Suitable for Various Auto use businesses: Quick-Lube & Oil Change Facilities Brake & Specialty Repair Wheel Alignment Services Auto Glass Repair & Replacement Window Tinting, Car Audio, & Electronics Installation Express Automotive Detailing & Cosmetic Services Mobile Fleet Support Centers General Automotive Mechanic/Minor Repair Shops. Tenant Improvement (TI) Allowance Available for qualified tenants, subject to credit approval. The property is currently occupied. Please respect the tenant's privacy. Drive-by inspections only. Do not disturb the tenant or on-site personnel. All inquiries, leasing information, and scheduled property tours must be coordinated directly through the owner. GROUND LEASE / REDEVELOPMENT OPPORTUNITY OPTION IS AVAILABLE. The 0.24-acre lot features excellent street-front positioning, direct curb cuts for immediate vehicle ingress/egress. Ideal Redevelopment Concept Fits: Drive-Thru Beverage & Premium Coffee Quick-Service Restaurant (QSR) / Fast Casual Freestanding Urgent Care / Medical Retail Corporate Convenience Store / Boutique Retail All proposals (operating lease or ground lease) are welcomed. Pricing and deal structure will be tailored to the specific tenant profile, credit, TI needs, and proposed use. Contact (951) 479-6632
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227 W 38th St
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