Office Building with
12-18 N Delaware St Indianapolis, IN 46204
For Sale
Contact for pricing
Multi-level office building with an elevator and two demised street retail storefront units.
Property Size10,129 SF
Price / SF$137.23
Days on Market379
Property Features for 12-18 N Delaware St
General Information
Standard status
Active
Size
10,129 SF
Property subtype
OFFICE
Listing Agency:
SVN | Northern Commercial
(317) 454-2241
Listed By:
Jess Lawhead, CCIM · License #RB14027154
(317) 454-2241
Source:
Moodyscre
Added: Jul 17, 2025
Changed: Jul 29
Last Checked: Jul 29 at 1:50PM
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 SVN | Northern Commercial
Investment Insights
Based on property information with market context.
This multi-level office building includes an elevator and a street-level retail component. The property is listed as a 9,001 SF office building plus a 1,128 SF lower level.
In addition to the office space, there are two demised street retail units, which can support mixed-use leasing within the same building. The property is located at 12-18 N Delaware St in Indianapolis, IN 46204, and sits across from the Indianapolis City Market redevelopment project.
In addition to the office space, there are two demised street retail units, which can support mixed-use leasing within the same building. The property is located at 12-18 N Delaware St in Indianapolis, IN 46204, and sits across from the Indianapolis City Market redevelopment project.
Key Highlights
- 9,001 SF office building with elevator
- 1,128 SF lower level space
- Two demised street retail units
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $170.2k | $16.80 |
| − Vacancy | −$14.5k | −$1.43 |
| EGI | $155.7k | $15.37 |
| − OpEx | −$46.7k | −$4.61 |
| NOI | $109.0k | $10.76 |
10,129 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.91M
$1.67M – $2.23M
NOI $133,733 @ 7.0% cap · market cap 9.62%
Second Best
Retail
$1.56M
$1.36M – $1.82M
NOI $108,992 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,488 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Multi-level office building with an elevator and two demised street retail storefront units.
Where is this office building located?
The property is located at 12-18 N Delaware St Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 9,001 SF office building with elevator; 1,128 SF lower level space; Two demised street retail units
