Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Carmel Office Space For Rent Title is generated by Realmo AI

    1717 E 116th Street, Carmel, IN 46032

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $650/Mo $1.04 SF/Yr (calc)

    First-level office spaces in central Carmel, high visibility location.

    Type:Office
    Property size:
    7,493 SF
    Added:
    Jan 27, 2026
    Days on Market:
    110
    Last Refresh:
    Apr 6 at 12:18 am

    Property Features for 1717 E 116th Street

    General Information

    Standard status
    Active
    Size
    7,493 SF
    Property subtype
    Office

    Building Details

    Year Built
    1977

    Spaces For Lease

    at 1717 E 116th Street Contact us

    We can help!

    Listing Contact
    Jess Lawhead, SIOR, CCIM, CBI

    Listing agent Jess Lawhead, SIOR, CCIM, CBI License #IN #RB14047741

    Listing office

    Listing date Jan 27, 2026

    Source Svn

    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 Jess Lawhead, SIOR, CCIM, CBI

    HighLights

    • Central Carmel Location
    • Located at the intersection of 116th Street and Rangeline Road
    • High Visibility Building
    • Signage Available
    • Easy Access to Keystone Avenue and US‑31
    • 1st level office spaces

    Overview

    Located within Woodland Business Center at the intersection of 116th Street and Rangeline Road, this property offers first-level office spaces. The building benefits from a central Carmel location and high visibility, with signage opportunities available. Exterior suites are available. The location provides convenient access to Keystone Avenue and US-31. The property size is 7493 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    EMI Fundraising Advertising Agency Pictures to Digital Photography Service SVN | Northern Commercial Real Estate Agency NAIFA-Indiana Charitable Organization Indy Pocket Pass Consultant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Pharmacy Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.1255
    Latitude
    39.9563

    Nearby Similar for Lease

    • $2,500/Mo
      3,000 SF

      Carmel Office Space For Rent

      Second-floor office space in Carmel's Arts & Design District.
      27 E Main Street, Carmel, IN 46032
      View Details
    • $2,600/Mo
      2,600 SF

      Carmel Warehouse Space Available

      2,600 SF warehouse space for lease in Carmel, Indiana.
      4250 W 99th Street, Carmel, IN 46032
      View Details
    • $2,683/Mo
      20,040 SF

      Updated Office Space in Carmel

      Office space near downtown Carmel with easy highway access.
      252 E Carmel Drive, Carmel, IN 46032
      View Details
    • $1,591/Mo
      12,150 SF

      Carmel Office Space For Rent

      770 SF office space in Carmel, available now.
      90 Executive Drive, Carmel, IN 46032
      View Details
    • Sponsored
      $129-$2,985/Mo
      11-1,292 SF

      IN, Carmel - Congressional Blvd

      303 Congressional Blvd, Carmel, IN 46032
      View Details
    • $15 SF/Yr
      1,500 SF

      Carmel Flex-Industrial Space Available

      Adaptable flex space suitable for various business uses.
      439 Gradle Drive, Carmel, IN 46032
      View Details
    • $1,550/Mo
      1,100 SF

      Carmel Office Space For Lease

      1,100 SF office space available for lease in Carmel.
      950 North Rangeline Road, Carmel, IN 46032
      View Details
    • $23 SF/Yr
      5,011 SF

      Meridian Corridor Office Space

      Well-maintained office building with on-site management and training facility.
      11550 N. Meridian Street, Carmel, Indiana 46032
      View Details
    • $650/Mo
      5,310 SF

      Carmel Office Suites For Rent

      Professional office suites in central Carmel location, near Monon Trail.
      1016 3rd Avenue SW, Carmel, IN 46032
      View Details
    • $18 SF/Yr
      10,616 SF

      Retail Space on College Avenue

      Retail space with high visibility and street signage opportunities.
      10567 North College Avenue, Carmel, IN 46280
      View Details
    • $8 SF/Yr
      1,802 SF

      Carmel Office Suites For Rent

      Modern office space with private and executive suites available.
      9640 Commerce Dr, Carmel, IN
      View Details
    • $19 SF/Yr
      5,931 SF

      Turn-Key Office Solution in Carmel

      Move-in ready office space with U.S. 31 frontage.
      12800 N Meridian St , Carmel, IN
      View Details

    FAQs

    What type of property is this?
    Office units - First-level office spaces in central Carmel, high visibility location.
    Where is this office units located?
    The property is located at 1717 E 116th Street Carmel, IN.
    What is the lease rate?
    The lease rate is $650 /Mo.
    What are key features of this property?
    This property features: Central Carmel Location; Located at the intersection of 116th Street and Rangeline Road; High Visibility Building
    (317) 447-4403
    We can help!
    Listing Contact
    Jess Lawhead, SIOR, CCIM, CBI
    Real Estate License ID: IN #RB14047741
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1717 E 116th Street, Carmel, IN 46032
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!