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    1722 W 16Th St Indianapolis, IN 46202

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    For Sale
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    Renovated commercial building with C-5 zoning and proximity to I-65.

    Lot size:
    0.45 Acres

    Property Features for 1722 W 16Th St

    General Information

    Lot size
    0.45 Acres

    We can help!

    Listing Contact
    Annie Scott
    Annie Scott
    Source: Moodyscre

    Listing Agency: F.C. Tucker Company Listing Agent: Annie Scott

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Freestanding Commercial Building Near I-65

    This freestanding office or commercial building is located on approximately 0.45 acres, which is approximately 19,689 square feet per the assessor. The property is suitable for commercial or industrial use due to its C-5 zoning, a desirable commercial classification in Indianapolis. The location offers ease of access and logistical advantages due to its proximity to I-65. The building has good structural integrity, and the conference room remains intact. The property was completely renovated in 2016 with significant capital improvements. Enhancements include a newly paved and dedicated parking lot, new windows, fencing, and gates. A drive-in door and dock are present, along with an outdoor storage area. Monument signage is in place. The property is adjacent to Riverside Regional Park and near 16Tech, a growing innovation district. Interior features include multiple conference and collaboration areas, an open ceiling, and a glass-front conference room that enhances natural light and aesthetic appeal. This property presents a compelling opportunity with value-add potential.
    Location Intelligence

    Current Use by Public Records

    Coldwell Banker Commercial Real Estate Agency Autism Therapy Services ... Crisis Center Car Key Replacement ... Locksmith Birkhead Editorial Video Editing Service Lighthouse Autism Center ... Crisis Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.191432
    Latitude
    39.789604

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    FAQs

    What type of property is this?
    Office building - Renovated commercial building with C-5 zoning and proximity to I-65.
    Where is this office building located?
    The property is located at 1722 W 16Th St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $869,000.
    What are key features of this property?
    This property features: - Highly desirable C-5 zoning allows for diverse commercial and industrial uses.; - Excellent location with close proximity to I-65 for easy access and logistical advantages.; - Completely renovated in 2016 with significant capital improvements, including a new parking lot, windows, fencing, and gates.
    (317) 902-8622 Call to check price and availability
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    1722 W 16Th St Indianapolis, IN 46202
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    Indianapolis, IN 46202
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1722 W 16Th St Indianapolis, IN 46202
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    Contact for Pricing
    Please call us for current price
    and status of this listing Annie Scott
    Annie Scott
    (317) 902-8622
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