Two-Story Office
619 N Pennsylvania St Indianapolis, IN 46204
619 N Pennsylvania St, Indianapolis, IN, 46204
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For Sale
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Two-story office building features efficient floor plates and controlled surface parking for approximately 30 vehicles.
Property Size4,065 SF
Price / SF$335.79
Days on Market835
Property Features for 619 N Pennsylvania St
General Information
- Standard status
- Active
- Size
- 4,065 SF
- Property subtype
- OFFICE
Listing agency
Colliers
(317) 507-8591
Listed by
Rich Forslund · License #RB14046182
(317) 507-8591
Source
Moodyscre
Added: Apr 9, 2024 Updated: Jul 21 at 12:07PM Checked: Jul 21 at 12:07PM
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 Colliers
Investment Insights
Based on property information with market context.
This approximately 8,130-square-foot two-story office building offers efficient floor plates with about two floors of approximately 4,065 square feet each. The property includes a two-story main entrance designed to bring in strong natural light, with exposed ceilings in certain areas.
Controlled surface parking is available for approximately 30 spaces. The building is walkable to Mass Ave and the core CBD, with American Legion Mall and other green space memorials directly across the street.
Controlled surface parking is available for approximately 30 spaces. The building is walkable to Mass Ave and the core CBD, with American Legion Mall and other green space memorials directly across the street.
Key Highlights
- ±8,130 SF two‑story office building with efficient floor plates and ±4,065 SF per floor
- 2‑story main entrance with strong natural light
- Exposed ceilings in areas
Local Financial Insights For Office B
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 | $87.8k | $21.60 |
| − Vacancy | −$16.2k | −$4.00 |
| EGI | $71.6k | $17.60 |
| − OpEx | −$17.9k | −$4.40 |
| NOI | $53.7k | $13.20 |
4,065 SF · lease $21.60/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$766.7K
$670.9K – $894.5K
NOI $53,670 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$885.4K – $1.18M
NOI $70,829 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
V3 Companies, Ltd.
Engineer
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FAQs
What type of property is this?
Office building - Two-story office building features efficient floor plates and controlled surface parking for approximately 30 vehicles.
Where is this office building located?
The property is located at 619 N Pennsylvania St Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,365,000.
What are key features of this property?
This property features: ±8,130 SF two‑story office building with efficient floor plates and ±4,065 SF per floor; 2‑story main entrance with strong natural light; Exposed ceilings in areas
