Historic Arts & Crafts Office
For Sale
$499,000
11393 Lantern Road, Fishers, IN 46038
Commercial Sale, Fishers, IN
Property Size1,800 SF
Lot Size0.06 Acres
Price / SF$277.22
Days on Market48
Property Features for 11393 Lantern Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Center Village, Mixed Use
Parking features
On Street
Elementary school district
Hamilton Southeastern Schools
Middle school district
Hamilton Southeastern Schools
High school district
Hamilton Southeastern Schools
Directions
GPS Friendly
Subdivision
2911 - Hamilton - Delaware
Standard status
Active
APN
291401203002000006
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Acreage .06, Section 1, Township 17, Range 4, South Village Of Nickel Plate, Lot 2
Tax Annual Amount
3928
Legal Description
Acreage .06, Section 1, Township 17, Range 4, South Village Of Nickel Plate, Lot 2
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
masonry fireplace
Listing Agency:
Joseph A. Logan
Listed By:
Jordan Logan
(317) 538-0887
Added: Sep 4
Changed: Oct 16
Last Checked: Oct 21 at 2:06PM
MLS# 22124301
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This circa-1920 Arts & Crafts property is one of Fishers’ historic “Three Sisters Cottages.” The office building includes three generously sized rooms or bedrooms, 1 1/2 baths, a masonry fireplace, and an unfinished basement for storage, utilities, files, equipment, or future build-out subject to applicable requirements. Heat pump heating and cooling are installed, with electric service for heating and cable available.
The property is located at 11393 Lantern Road in Fishers, Indiana, within the Center Village, Mixed Use zoning district. Village Center zoning supports a range of residential, office, mixed-use, and other compatible uses, with permitted uses, parking, setbacks, signage, building requirements, and approvals subject to verification with the City of Fishers. On-street parking is available.
The property is located at 11393 Lantern Road in Fishers, Indiana, within the Center Village, Mixed Use zoning district. Village Center zoning supports a range of residential, office, mixed-use, and other compatible uses, with permitted uses, parking, setbacks, signage, building requirements, and approvals subject to verification with the City of Fishers. On-street parking is available.
Key Highlights
- Circa‑1920 Arts & Crafts property recognized as one of the historic “Three Sisters Cottages”
- Center Village, Mixed Use zoning supports office, residential, mixed‑use, and other compatible uses
- Three generously sized rooms or bedrooms and 1 1/2 baths
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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Current Use
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Explore this area
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 building - Village Center zoning accommodates office, residential, mixed-use, and other compatible uses subject to applicable approvals.
Where is this office building located?
The property is located at 11393 Lantern Road 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 recognized as one of the historic “Three Sisters Cottages”; Center Village, Mixed Use zoning supports office, residential, mixed‑use, and other compatible uses; Three generously sized rooms or bedrooms and 1 1/2 baths
