Mixed-Use Property with Office
For Sale
$495,000
11405 Lantern Road #1, Fishers, IN 46038
The ground level combines work or living areas with a kitchen, full bathroom, and two private rooms.
Property Size960 SF
Price / SF$515.63
Days on Market37
Property Features for 11405 Lantern Road #1
General Information
Standard status
Active
Size
960 SF
Property subtype
Mixed Use
Additional Details
Floor
Ground
Building Details
Year Built
2023
Construction
modular
Listing Agency:
F.C. Tucker Company
(317) 849-5050
Listed By:
Paul Bates
(317) 315-9860
Source:
Indianagoldgroup
Added: Sep 25
Changed: Oct 28
Last Checked: Oct 28 at 3:37PM
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 F.C. Tucker Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2023 modular mixed-use property offers 960 square feet on the ground floor, arranged with a great room, kitchen, full bathroom, and two bedrooms that can serve as private offices. Large windows and glass doors bring natural light into the space. The ground level can support office, retail, or residential use. An upper unit is also offered separately for purchase.
At 11405 Lantern Road in Fishers, the property is a short walk from downtown, the Nickel Plate District, and the Nickel Plate Walking and Bike Trail. The Fishers Culinary District and Fishers Event Center are about a five-minute drive away.
At 11405 Lantern Road in Fishers, the property is a short walk from downtown, the Nickel Plate District, and the Nickel Plate Walking and Bike Trail. The Fishers Culinary District and Fishers Event Center are about a five-minute drive away.
Key Highlights
- 960 SF ground‑floor space in a 2023 modular mixed‑use property
- Great room, kitchen, full bathroom, and two bedrooms that can function as private offices
- Ground‑floor layout supports office, retail, or residential use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,904
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,080
$278.1K
Cap Rate 7%
$198,629
$198.6K
Cap Rate 9%
$154,489
$154.5K
Market Conditions
NOI Build-Up for 960 SF
Gross rent
$21.3K $22.20/SF
− Vacancy
−$1.4K −$1.51/SF
EGI
$19.9K $20.69/SF
− OpEx
−$6.0K −$6.21/SF
NOI
$13.9K $14.48/SF
Area
Fishers, IN
Vacancy
6.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,080
Cap Rate 7%
$198,629
Cap Rate 9%
$154,489
Alternative Uses
Best Use
Retail
$198.6K
$173.8K – $231.7K
NOI $13,904 @ 7.0% cap · market cap 2.81%
Second Best
Mixed Use
$176.9K
$154.8K – $206.3K
NOI $12,380 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$236.4K
$206.8K – $275.8K
NOI $16,545 @ 7.0% cap · market cap 3.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,246
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
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The ground level combines work or living areas with a kitchen, full bathroom, and two private rooms.
Where is this mixed-use property located?
The property is located at 11405 Lantern Road #1 Fishers, IN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 960 SF ground‑floor space in a 2023 modular mixed‑use property; Great room, kitchen, full bathroom, and two bedrooms that can function as private offices; Ground‑floor layout supports office, retail, or residential use
