19,700 SF Office Investment Opportunity | Indianapolis, IN
This 19,700 SF Class B office property offers a compelling blend of stable income, future flexibility, and prime location—ideal for both investors and potential owner-users.
Situated on 1.958 acres with approximately 60 parking spaces, the property provides excellent accessibility with convenient access to I-465 and is located just minutes from Indianapolis International Airport.
Originally built in 1990 with subsequent additions and renovations, the building features a functional and versatile layout including multiple conference rooms, training areas, two kitchens, and flexible office/coworking spaces, making it well-suited for a variety of business uses.
Investment Highlights
- Price: $1,995,000
- NOI: $222,222
- Cap Rate: 11%
- Lease Type: Triple Net (NNN)
- Rent Growth: 2% annual increases
- Lease Term: In place through December 31, 2027
- Value-Add Potential: Tenant has indicated possible vacate or partial downsizing, creating opportunity for owner-user or multi-tenant conversion
Property Details
- Total Building Size: 19,700 SF
- Main Floor: 16,650 SF
- Basement: 3,050 SF
- Lot Size: 1.958 acres
- Parking: ~60 spaces
- Year Built: 1990 (with updates and additions)
- Recent Improvements: New roof and gutters (2017)
