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Well-Maintained Office Building Near 16 Tech

1520 E Riverside Dr, Indianapolis, IN

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For Sale

Contact for pricing

9,000 SF office building with pylon signage and ample parking.

Type:OFFICE

Property size:

9,000 SF

Lot size:

0.86 Acres

Price / SF:

$161/SF

HighLights

9,000 SF well‑maintained office building near 16 Tech.
Features 66 parking spots.
Existing pylon signage along 16th Street with electronic messaging.
Easy access via signalized intersection at 16th Street and Riverside Drive.
Located within an Opportunity Zone.
Located on IndyGo bus stop for routes 15, 25, and 30.

We can help!

Listing Contact

Joel C Miller

For Sale

Contact for pricing

9,000 SF office building with pylon signage and ample parking.

Type:OFFICE

Property size:

9,000 SF

Lot size:

0.86 Acres

Price / SF:

$161/SF

Added:: Apr 11, 2023
Days on Market:: 1161
Last Refresh:: May 19 at 9:15 pm

Property Features for 1520 E Riverside Dr

General Information

Standard status: Active
Size: 9,000 SF
Lot size: 0.86 Acres
Property subtype: OFFICE

We can help!

Listing Contact

Joel C Miller

Listing agent Joel C Miller License #RB17000848

Listing office Avison Young | Indianapolis

Listing date Apr 11, 2023

Source Moodyscre

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 Avison Young | Indianapolis

HighLights

9,000 SF well‑maintained office building near 16 Tech.
Features 66 parking spots.
Existing pylon signage along 16th Street with electronic messaging.
Easy access via signalized intersection at 16th Street and Riverside Drive.
Located within an Opportunity Zone.
Located on IndyGo bus stop for routes 15, 25, and 30.

Overview

This 9,000 square foot office building presents an owner-occupant opportunity near 16 Tech. The property is zoned C-5 and features existing pylon signage along 16th Street, equipped with electronic messaging capabilities. It offers convenient access with easy ingress and egress via a signalized intersection at 16th Street and Riverside Drive. The location is also accessible via IndyGo bus routes 15, 25, and 30, with a bus stop located on-site. The property includes 66 parking spots and is situated within an Opportunity Zone.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$194.4k	$21.60
− Vacancy	−$36.0k	−$4.00
EGI	$158.4k	$17.60
− OpEx	−$39.6k	−$4.40
NOI	$118.8k	$13.20

9,000 SF · lease $21.60/SF/yr · vacancy 18.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.70M

$1.49M – $1.98M (±1% cap)

NOI $118,827 @ 7.0% cap · market cap 8.19%

Second Best

—

no second resolved use

Theoretical Best

Office A

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,816 @ 7.0% cap · market cap 10.81%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

Location Insight

Map
Local Demand

City: Indianapolis
County: Hamilton
State: Indiana
Longitude: -86.1914
Latitude: 39.7882

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For sale
Office buildings
IN
Indianapolis
1520 E Riverside Dr

What type of property is this?

Office building - 9,000 SF office building with pylon signage and ample parking.

Where is this office building located?

The property is located at 1520 E Riverside Dr Indianapolis, IN.

What is the asking price?

The asking price for this property is $1,450,000.

What are key features of this property?

This property features: 9,000 SF well‑maintained office building near 16 Tech.; Features 66 parking spots.; Existing pylon signage along 16th Street with electronic messaging.

1520 E Riverside Dr, Indianapolis, IN

9,000 SF office building with pylon signage and ample parking.

Property Features for 1520 E Riverside Dr

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Restaurant/QSR With Drive-Thru Potential

Value-Add Commercial Opportunity in Indianapolis

Hard-Corner Retail/Office Building

Freestanding Office Building on Shadeland

Freestanding Office Building on Shadeland

Flexible Office Building with Detached Garage

Renovated Office Flex Complex

Heavy Industrial Dock-High Warehouse

Corner Two-Tenant Retail and Auto Site

Multi-Office Building with Private Parking

Auto Shop with Paint Booth

Keystone Avenue Redevelopment Opportunity

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