Historic Arts & Crafts Office
For Sale
$499,000
11393 Lantern Rd, Fishers, IN 46038
Village Center-zoned property with flexible rooms, a masonry fireplace, and unfinished basement space.
Property Size1,800 SF
Price / SF$277.22
Days on Market49
Property Features for 11393 Lantern Rd
General Information
Standard status
Active
Size
1,800 SF
Zoning
VC
Amenities
fireplace
unfinished basement
Building Details
Year Built
1920
Buildings
1
Construction
Arts & Crafts
Listing Agency:
Joseph A. Logan
Listed By:
Jordan Logan · License #RB20001981
(317) 538-0887
Source:
Megandusing
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 7 at 4:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Joseph A. Logan
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Investment Insights
Based on property information with market context.
This circa-1920 Arts & Crafts property is configured as an office unit with approximately 1,800 square feet of interior space. The layout includes three generously sized rooms or bedrooms, 1 1/2 baths, a masonry fireplace, and architectural details associated with the historic Three Sisters Cottages. An unfinished basement adds space for storage, utilities, files, equipment, or future build-out subject to applicable requirements.
Located at 11393 Lantern Road in Fishers, the property carries Village Center (VC) zoning. The district supports residential, office, mixed-use, and other compatible uses, with permitted uses, parking, setbacks, signage, and required approvals subject to verification with the City of Fishers. The property combines a historic building format with a central Fishers setting suitable for office, professional, boutique, or other compatible commercial use.
Located at 11393 Lantern Road in Fishers, the property carries Village Center (VC) zoning. The district supports residential, office, mixed-use, and other compatible uses, with permitted uses, parking, setbacks, signage, and required approvals subject to verification with the City of Fishers. The property combines a historic building format with a central Fishers setting suitable for office, professional, boutique, or other compatible commercial use.
Key Highlights
- Circa‑1920 Arts & Crafts property associated with the historic Three Sisters Cottages
- Approximately 1,800 square feet with three generously sized rooms or bedrooms
- Village Center (VC) zoning supports office, residential, mixed‑use, and other compatible uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,105
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,100
$462.1K
Cap Rate 7%
$330,071
$330.1K
Cap Rate 9%
$256,722
$256.7K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$37.8K $21.00/SF
− Vacancy
−$7.0K −$3.89/SF
EGI
$30.8K $17.12/SF
− OpEx
−$7.7K −$4.28/SF
NOI
$23.1K $12.84/SF
Area
Fishers, IN
Vacancy
18.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,100
Cap Rate 7%
$330,071
Cap Rate 9%
$256,722
Alternative Uses
Best Use
Office B
$330.1K
$288.8K – $385.1K
NOI $23,105 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.2K
$387.8K – $517.0K
NOI $31,022 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
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Business Placement
Demographics for 46038, IN
42,694
Population
17,738
Households
2.4
Avg Household Size
36
Median Age
60%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
2,754
Density / Sq Mi
$105,092
Median Household Income
$61,220
Median Earnings
$1,489
Median Rent
$301,600
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Village Center-zoned property with flexible rooms, a masonry fireplace, and unfinished basement space.
Where is this office unit located?
The property is located at 11393 Lantern Rd Fishers, IN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Circa‑1920 Arts & Crafts property associated with the historic Three Sisters Cottages; Approximately 1,800 square feet with three generously sized rooms or bedrooms; Village Center (VC) zoning supports office, residential, mixed‑use, and other compatible uses
