Mixed-Use Flex and Office
For Sale
Contact for pricing
1330 North Meridian Street, Indianapolis, IN 46202
Multi-building site with main office building, flex/storage building, and surface parking, adjacent to IU Health Methodist Hospital.
Property Size64,300 SF
Lot Size2.44 Acres
Price / SF$93.31
Days on Market115
Property Features for 1330 North Meridian Street
General Information
Standard status
Active
Size
64,300 SF
Total Parking Spaces
110
Lot size
2.44 Acres
Property subtype
Office
Zoning
C-3
Site & Location
Neighborhood
Near Southside
Highway Access
Yes
Building Details
Buildings
2
Listing Agency:
Colliers - Indianapolis, Indiana
Listed By:
Nick Trimpe · License #RB14035822
(317) 713-2346
Source:
Crexi
Added: Jul 6
Changed: Oct 25
Last Checked: Oct 28 at 7:05AM
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 - Indianapolis, Indiana
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Investment Insights
Based on property information with market context.
The sale offering includes multiple connected parcels totaling approximately 2.44 acres, featuring a main building of about 60,300 square feet at 1330 N Meridian St. The package also includes a surface parking and storage/flex building of approximately 4,000 square feet covering 1307–1329 N Illinois St, along with additional surface parking at 1349–1351 N Illinois St.
The site benefits from prominent Meridian St and Illinois St frontage with strong visibility and signage opportunities. It is adjacent to the IU Health Methodist Hospital campus and provides dedicated, complimentary surface parking for approximately 110 vehicles. The property is positioned for convenient access to I-65, I-70, and Downtown Indianapolis amenities.
Zoned C-3, this configuration may support office, medical, educational, nonprofit, or redevelopment uses, subject to applicable approvals.
The site benefits from prominent Meridian St and Illinois St frontage with strong visibility and signage opportunities. It is adjacent to the IU Health Methodist Hospital campus and provides dedicated, complimentary surface parking for approximately 110 vehicles. The property is positioned for convenient access to I-65, I-70, and Downtown Indianapolis amenities.
Zoned C-3, this configuration may support office, medical, educational, nonprofit, or redevelopment uses, subject to applicable approvals.
Key Highlights
- Multi‑building site on N Meridian St and N Illinois St, totaling ±2.44 acres
- Main building at 1330 N Meridian St offers ±60,300 USF
- 1307–1329 N Illinois St includes surface parking and a flex/storage building with ±4,000 USF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$320,534
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,410,680
$6.4M
Cap Rate 7%
$4,579,057
$4.6M
Cap Rate 9%
$3,561,489
$3.6M
Market Conditions
NOI Build-Up for 64,300 SF
Gross rent
$501.5K $7.80/SF
− Vacancy
−$43.6K −$0.68/SF
EGI
$457.9K $7.12/SF
− OpEx
−$137.4K −$2.14/SF
NOI
$320.5K $4.98/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,410,680
Cap Rate 7%
$4,579,057
Cap Rate 9%
$3,561,489
Alternative Uses
Best Use
Office B
$12.13M
$10.61M – $14.15M
NOI $848,953 @ 7.0% cap · market cap 14.15%
Second Best
Flex RnD
$9.03M
$7.90M – $10.53M
NOI $631,940 @ 7.0% cap · market cap 10.53%
Theoretical Best
Office A
$16.01M
$14.00M – $18.67M
NOI $1,120,363 @ 7.0% cap · market cap 18.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
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Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office building - Multi-building site with main office building, flex/storage building, and surface parking, adjacent to IU Health Methodist Hospital.
Where is this office building located?
The property is located at 1330 North Meridian Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Multi‑building site on N Meridian St and N Illinois St, totaling ±2.44 acres; Main building at 1330 N Meridian St offers ±60,300 USF; 1307–1329 N Illinois St includes surface parking and a flex/storage building with ±4,000 USF
