+/- 37,000 SF Multi-Tenant Industrial Building on 4.57 Acres

For Lease

510 Indianapolis Ave, Lebanon, IN 46052

+/- 37,000 SF Multi-Tenant Industrial Building on 4.57 Acres currently offers 1 industrial space(s) for rent. The property type is designated as industrial. Use types among leasing opportunities at this property include industrial. The minimum space size listed is 11,800 square feet. Lease type options include Modified Gross. Expand the individual listing section(s) below or reach out to the property representative(s) for additional information on leasing opportunities at +/- 37,000 SF Multi-Tenant Industrial Building on 4.57 Acres.

Space Available For Lease 1

Contacts

Wade Wilson

SVN | Northern Commercial

Property Details

  • Property Type Industrial - Warehouse/Distribution
  • Property Size 36,692 SF
  • Lot Size 4.57 Acre
  • Property Tenancy Multi-Tenant
  • Date Updated Sep 24, 2026
  • HVAC None
Located directly off of Indianapolis Avenue with excellent connectivity to Highway I-65 (+/- 1 mile).SVN | Northern Commercial is pleased to present 510 Indianapolis Ave for sale, a +/- 37,000 SF multi-tenant heavy industrial property on 4.57 acres in Lebanon, IN. The offering presents a rare opportunity to acquire a multi-tenant industrial asset with nearly three acres of additional outdoor storage. The property appeals to both owner-users and investors, with 11,800 SF of warehouse space available for immediate owner-user occupancy (contact broker for details). The building has recently undergone extensive renovations - roof coating, yard base & expansion, full office remodel, all new LED lighting, new drive-in doors, exterior paint, new gutters, and more. Currently, the property is leased to three (3) tenants, generating approximately $341,488 in NOI/year (11.57% going in Cap Rate). Given Lebanon's significant growth over the past five years (Eli Lilly expansion, LEAP district, etc.), the asset is well-positioned for continued appreciation and rent growth over the coming years.SVN | Northern Commercial is pleased to present 510 Indianapolis Ave for lease, a +/- 37,000 SF heavy industrial property with 11,800 SF available for immediate occupancy. The building has recently undergone extensive renovations - roof coating, yard base & expansion, full office remodel, all new LED lighting, new drive-in doors, exterior paint, new gutters, and more.
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Highlights

  • +/- 37,000 SF industrial building w/ 11,800 SF available for lease
  • Excellent connectivity to Highway I-65, downtown Lebanon, and downtown Indianapolis
  • Many recent renovations - roof coating, yard expansion, LED lighting, etc.
  • Three (3) exterior loading docks for convenient loading/unloading

Attachments

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Location

  • City Lebanon, IN
  • Zip Code 46052
  • Market Indianapolis

Points of Interest

  • Speedway

    0.65 miles

  • Marathon

    0.73 miles

  • Pilot

    0.98 miles

  • BP

    1.26 miles

  • Shell

    1.60 miles

  • McClure's

    1.60 miles

  • Love's

    5.63 miles

  • Tesla Supercharger

    8.98 miles

  • Kinnard & Drake's 1830 C

    0.44 miles

  • Huddle House

    0.96 miles

  • Backroads BBQ

    1.15 miles

  • McDonald's

    1.30 miles

  • Taco Bell

    1.55 miles

  • Flap Jack's Pancake House

    1.57 miles

  • Subway

    1.59 miles

  • Steak 'n Shake

    1.64 miles

  • Arby's

    1.68 miles

  • Culver's

    2.08 miles

510 Indianapolis Ave Listing Brief

  • The rental rate for available space here starts at $$9.66/SF/YR. The asking price for this type of property can vary based on the location of the asset, as proximity to transportation hubs, access to highways or ports plays a key role in the building's valuation. Other factors that influence cost are the property age, its quality rating (building class or property class), as well as its on-site facilities and features.

  • It is available for lease as Multi-Tenant space.

    A single-tenant industrial space is typically ideal for businesses or organizations that require exclusive and dedicated use of the entire facility. This type of space suits industries or activities that demand specialized infrastructure, privacy, and control over the entire premises.

  • Reach out to listing brokers or property representatives using the contact form available on this page, to find out more about climate control and other essential systems at this property. Climate control is typically used in industrial buildings where businesses store items that are susceptible to temperature and humidity damage, such as food, pharmaceuticals, paper, textiles, and electronics.

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