Corner-Lot Office
For Sale
$299,000
6570 Carrollton Ave, Indianapolis, IN 46220
Corner-lot office suite with two private offices, conference room, and two bathrooms including a shower.
Property Size1,010 SF
Price / SF$296.04
Days on Market138
Property Features for 6570 Carrollton Ave
General Information
Standard status
Active
Size
1,010 SF
Building Details
Year Built
1887
Listing Agency:
F.C. Tucker Company
Listed By:
Annie Scott
Source:
Mcwatersrealestate
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 8 at 4:36AM
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
Investment Insights
Based on property information with market context.
Located at 6570 Carrollton Avenue in Indianapolis, this corner-lot commercial property offers an office-suite configuration currently occupied by a CPA firm. The interior layout includes two large private offices, a conference room, a dedicated work area, and two bathrooms, one of which includes a shower.
The property is positioned directly across from Opti-Park and Park 66 Flats and is described as being just one block from the Monon Trail. This setting provides regular daily visibility tied to the surrounding multi-family presence and the trail’s pedestrian and recreational activity.
Overall, the space is arranged to support private office work alongside meeting and shared work functions, with restroom amenities designed for in-office convenience.
The property is positioned directly across from Opti-Park and Park 66 Flats and is described as being just one block from the Monon Trail. This setting provides regular daily visibility tied to the surrounding multi-family presence and the trail’s pedestrian and recreational activity.
Overall, the space is arranged to support private office work alongside meeting and shared work functions, with restroom amenities designed for in-office convenience.
Key Highlights
- Corner‑lot commercial property at Carrollton Avenue and East 66th Street in Broad Ripple
- Currently occupied by a CPA firm
- Interior layout includes two large private offices, a conference room, and a dedicated work area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,335
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$266,700
$266.7K
Cap Rate 7%
$190,500
$190.5K
Cap Rate 9%
$148,167
$148.2K
Market Conditions
NOI Build-Up for 1,010 SF
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.
Gross rent
$21.8K $21.60/SF
− Vacancy
−$4.0K −$4.00/SF
EGI
$17.8K $17.60/SF
− OpEx
−$4.4K −$4.40/SF
NOI
$13.3K $13.20/SF
Area
Indianapolis, IN
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$266,700
Cap Rate 7%
$190,500
Cap Rate 9%
$148,167
Alternative Uses
Best Use
Office B
$190.5K
$166.7K – $222.3K
NOI $13,335 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$251.4K
$220.0K – $293.3K
NOI $17,598 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Explore this area
Business Placement
Demographics for 46220, IN
36,078
Population
17,524
Households
2.1
Avg Household Size
37
Median Age
67%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,084
Density / Sq Mi
$103,735
Median Household Income
$58,867
Median Earnings
$1,330
Median Rent
$329,700
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Corner-lot office suite with two private offices, conference room, and two bathrooms including a shower.
Where is this office units located?
The property is located at 6570 Carrollton Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Corner‑lot commercial property at Carrollton Avenue and East 66th Street in Broad Ripple; Currently occupied by a CPA firm; Interior layout includes two large private offices, a conference room, and a dedicated work area
