Downtown Indianapolis Office Building For
For Sale
Contact for pricing
150 E Market, Indianapolis, IN 46204
116,504 SF office building in downtown Indianapolis.
Property Size11,100 SF
Price / SF$0.00
Days on Market269
Property Features for 150 E Market
General Information
Standard status
Active
Size
11,100 SF
Class
B
Property subtype
Office
Lease Term
Full Service
Site & Location
Neighborhood
Downtown
Building Details
Building Size
11,100 SF
Properties For Sale
at 150 E Market
Suite 50
Size
3,600 SF
Type
Creative/Loft
Term
Negotiable
Listed By:
George Sechrist, CCIM
(317) 403-0903
Source:
Alopg
Added: Jan 27
Changed: Oct 21
Last Checked: Oct 23 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 George Sechrist, CCIM
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 116,504 square foot office building is located in the central business district of Downtown Indianapolis. Constructed in 1958 and renovated in 1987, 1994, and most recently in 2021, the property is currently 81.92% occupied by 19 tenants. The weighted average lease term (WALT) is 4.04 years. The property offers a stable in-place income stream with the potential to increase income by leasing the remaining vacant space. Tenants have access to public transit, nearby parking, and walkable access to dining, entertainment, and civic amenities.
Key Highlights
- Premier central business district location in Downtown Indianapolis.
- Stable in‑place income stream with 81.92% occupancy and a 4.04‑year WALT.
- Upside potential through leasing remaining vacancies.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,538,202
Suggested Prices Based on Cap Rates
Cap Rate 5%
$30,764,040
$30.8M
Cap Rate 7%
$21,974,314
$22.0M
Cap Rate 9%
$17,091,133
$17.1M
Market Conditions
NOI Build-Up for 116,504 SF
Gross rent
$2.52M $21.60/SF
− Vacancy
−$465.5K −$4.00/SF
EGI
$2.05M $17.60/SF
− OpEx
−$512.7K −$4.40/SF
NOI
$1.54M $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 Rate 5%
$30,764,040
Cap Rate 7%
$21,974,314
Cap Rate 9%
$17,091,133
Alternative Uses
Best Use
Office B
$21.97M
$19.23M – $25.64M
NOI $1,538,202 @ 7.0% cap · market cap 8,545,566.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.00M
$25.37M – $33.83M
NOI $2,029,966 @ 7.0% cap · market cap 11,277,588.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,865
Businesses Nearby
Explore this area
Business Placement
Demographics for 46204, IN
9,086
Population
6,582
Households
1.4
Avg Household Size
31
Median Age
61%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
8,260
Density / Sq Mi
$88,081
Median Household Income
$69,226
Median Earnings
$1,686
Median Rent
$350,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office building - 116,504 SF office building in downtown Indianapolis.
Where is this office building located?
The property is located at 150 E Market Indianapolis, IN.
What are key features of this property?
This property features: Premier central business district location in Downtown Indianapolis.; Stable in‑place income stream with 81.92% occupancy and a 4.04‑year WALT.; Upside potential through leasing remaining vacancies.
