Renovated Office
For Sale
Contact for pricing
2506 E Washington Street, Indianapolis, IN 46201
Individual workspaces share conference, kitchen, and dining facilities within a gated building.
Property Size4,158 SF
Price / SF$0.19
Days on Market64
Property Features for 2506 E Washington Street
General Information
Standard status
Active
Size
4,158 SF
Property subtype
Office
Site & Location
Neighborhood
Christian Park
Additional Details
Condition
Newly Renovated
Office Units
8
Tenant in Place
Yes
Property Use
Office
Amenities
shared conference room
private restrooms
shared kitchen and dining area
gated building
private mailbox
Building Details
Year Built
1922
Tenancy
Multi
Listing Agency:
Berkshire Hathaway Home
(317) 881-7900
Listed By:
Sarika Malhotra
(646) 427-7375
Source:
Locksteprealty
Added: Aug 28
Changed: Oct 28
Last Checked: Oct 28 at 3:24PM
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 Berkshire Hathaway Home
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Investment Insights
Based on property information with market context.
At 2506 E Washington Street in Indianapolis, this 4,158-square-foot office property contains 8 private suites arranged over two floors. Built in 1922 and renovated, the building also includes a shared conference room, kitchen and dining area, and private restrooms on each floor.
The gated property offers individual office suites, with private mailboxes available. Its shared facilities and multi-suite layout are part of the existing configuration.
The gated property offers individual office suites, with private mailboxes available. Its shared facilities and multi-suite layout are part of the existing configuration.
Key Highlights
- 8 private office suites across two floors
- 4,158‑square‑foot office property, built in 1922
- Renovated building with a shared conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,898
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,097,960
$1.1M
Cap Rate 7%
$784,257
$784.3K
Cap Rate 9%
$609,978
$610.0K
Market Conditions
NOI Build-Up for 4,158 SF
Gross rent
$89.8K $21.60/SF
− Vacancy
−$16.6K −$4.00/SF
EGI
$73.2K $17.60/SF
− OpEx
−$18.3K −$4.40/SF
NOI
$54.9K $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%
$1,097,960
Cap Rate 7%
$784,257
Cap Rate 9%
$609,978
Alternative Uses
Best Use
Office B
$784.3K
$686.2K – $915.0K
NOI $54,898 @ 7.0% cap · market cap 6,862.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$905.6K – $1.21M
NOI $72,449 @ 7.0% cap · market cap 9,056.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
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Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
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 unit - Individual workspaces share conference, kitchen, and dining facilities within a gated building.
Where is this office unit located?
The property is located at 2506 E Washington Street Indianapolis, IN.
What are key features of this property?
This property features: 8 private office suites across two floors; 4,158‑square‑foot office property, built in 1922; Renovated building with a shared conference room
