Carmel Office/Flex Building For Sale

11690 Technology Dr, Carmel, IN 46032

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For Sale

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14,018 SF office/flex building in Carmel's business corridor.

Type:Office

Property size:

14,018 SF

Lot size:

2.45 Acres

Price / SF:

$231/SF

HighLights

Prime location in Carmel's thriving business corridor with exceptional accessibility.
Balanced layout with 9,521 SF of office and 4,497 SF of warehouse space.
Rare owner‑occupied opportunity in a supply‑constrained submarket.
B6 zoning allows for a variety of business uses.
Functional warehouse features including 14’ clear height, one dock door, and two drive‑in doors.
14,018 SF office/flex building on 2.45 acres.

We can help!

Contact an agent

David Hannon

For Sale

Contact for pricing

14,018 SF office/flex building in Carmel's business corridor.

Type:Office

Property size:

14,018 SF

Lot size:

2.45 Acres

Price / SF:

$231/SF

Added:: Jan 19, 2026
Days on Market:: 158
Last Refresh:: Mar 17 at 1:13 pm

Property Features for 11690 Technology Dr

General Information

Standard status: Active
Size: 14,018 SF
Lot size: 2.45 Acres
Property subtype: Office

We can help!

Contact an agent

David Hannon

Listing office EXP Commercial

Listing date Jan 19, 2026

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All listing content including descriptions, pricing, images are the copyrighted material of EXP Commercial

HighLights

Prime location in Carmel's thriving business corridor with exceptional accessibility.
Balanced layout with 9,521 SF of office and 4,497 SF of warehouse space.
Rare owner‑occupied opportunity in a supply‑constrained submarket.
B6 zoning allows for a variety of business uses.
Functional warehouse features including 14’ clear height, one dock door, and two drive‑in doors.
14,018 SF office/flex building on 2.45 acres.

Overview

The property at 11690 Technology Drive offers an opportunity to acquire a 14,018 square foot office/flex building on 2.45 acres. Located in Carmel's business corridor, the building features a balanced layout with 9,521 square feet of office space and 4,497 square feet of warehouse space. The property is zoned B6 and includes a 14-foot clear height, one dock door, and two drive-in doors. The location provides accessibility for employees and clients, with proximity to corporate users, retail amenities, and the US-31/Meridian Street corridor. This property is suitable for companies seeking a combination of professional office space and light industrial functionality. It is also suitable as an owner-occupied facility.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$294.4k	$21.00
− Vacancy	−$53.0k	−$3.78
EGI	$241.4k	$17.22
− OpEx	−$60.3k	−$4.31
NOI	$181.0k	$12.92

14,018 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$2.59M

$2.26M – $3.02M (±1% cap)

NOI $181,042 @ 7.0% cap · market cap 5.57%

Second Best

Flex RnD

$2.16M

$1.89M – $2.51M (±1% cap)

NOI $150,890 @ 7.0% cap · market cap 4.64%

Theoretical Best

Office A

$3.68M

$3.22M – $4.29M (±1% cap)

NOI $257,370 @ 7.0% cap · market cap 7.92%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Rough Notes Co Insurance Agency

Suggested Use

Similar Places Nearby

Ritz Charles Caterers — 12156 N Meridian St, Carmel, IN 46032
Simply Served Catering — 12156 N Meridian St, Carmel, IN 46032

Location Insight

Map
Local Demand

City: Carmel
County: Hamilton
State: Indiana
Longitude: -86.1479253
Latitude: 39.9583882

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For sale
Flex space
IN
Carmel
46032
11690 Technology Dr

What type of property is this?

Flex space - 14,018 SF office/flex building in Carmel's business corridor.

Where is this flex space located?

The property is located at 11690 Technology Dr Carmel, IN.

What is the asking price?

The asking price for this property is $3,250,000.

What are key features of this property?

This property features: Prime location in Carmel's thriving business corridor with exceptional accessibility.; Balanced layout with 9,521 SF of office and 4,497 SF of warehouse space.; Rare owner‑occupied opportunity in a supply‑constrained submarket.

11690 Technology Dr, Carmel, IN 46032

14,018 SF office/flex building in Carmel's business corridor.

Property Features for 11690 Technology Dr

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Fully Renovated Two-Story Office Building

Corner Development Lot with C2 Zoning

Updated Duplex with Two 2BR Units

Two-Building Office Portfolio in Carmel

Carmel Office Building For Sale

Furnished Office Space For Rent

Carmel Office Building For Sale

Carmel Retail Condominiums For Sale

Carmel Office Space For Lease

Carmel Class A Office Building

Retail Space in Merchants’ Square

Carmel Office Suites Available

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