Office Units with Private
For Sale
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2990 Westlane Road, Indianapolis, IN 46268
Multiple private offices and a spacious kitchen area support professional operations.
Property Size18,800 SF
Price / SF$0.00
Days on Market19
Property Features for 2990 Westlane Road
General Information
Standard status
Active
Size
18,800 SF
Property subtype
Office
Site & Location
Neighborhood
Crooked Creek
Additional Details
Property Use
Office
Amenities
kitchen area
Building Details
Year Built
1972
Listing Agency:
RE/MAX Advanced Realty
(317) 881-3700
Listed By:
Keith Turnbill · License #RB14035185
(800) 899-7369
Source:
Indianagoldgroup
Added: Oct 12
Changed: Oct 28
Last Checked: Oct 28 at 4:09PM
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 RE/MAX Advanced Realty
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Investment Insights
Based on property information with market context.
This office property contains multiple private offices alongside a spacious kitchen area. The configuration is suited to professional office use, including businesses and service providers, as well as nonprofit organizations.
Built in 1972, the property is located at 2990 Westlane Road in Indianapolis, Indiana.
Built in 1972, the property is located at 2990 Westlane Road in Indianapolis, Indiana.
Key Highlights
- Multiple private offices
- Spacious kitchen area
- Built in 1972
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$248,216
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,964,320
$5.0M
Cap Rate 7%
$3,545,943
$3.5M
Cap Rate 9%
$2,757,956
$2.8M
Market Conditions
NOI Build-Up for 18,800 SF
Gross rent
$406.1K $21.60/SF
− Vacancy
−$75.1K −$4.00/SF
EGI
$331.0K $17.60/SF
− OpEx
−$82.7K −$4.40/SF
NOI
$248.2K $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%
$4,964,320
Cap Rate 7%
$3,545,943
Cap Rate 9%
$2,757,956
Alternative Uses
Best Use
Office B
$3.55M
$3.10M – $4.14M
NOI $248,216 @ 7.0% cap · market cap 1,378,977.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.68M
$4.09M – $5.46M
NOI $327,571 @ 7.0% cap · market cap 1,819,838.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
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Business Placement
Demographics for 46268, IN
26,353
Population
11,904
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
12.7 sq mi
ZIP Area
2,075
Density / Sq Mi
$63,322
Median Household Income
$41,596
Median Earnings
$1,171
Median Rent
$208,500
Median Home Value
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Market
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office unit - Multiple private offices and a spacious kitchen area support professional operations.
Where is this office unit located?
The property is located at 2990 Westlane Road Indianapolis, IN.
What are key features of this property?
This property features: Multiple private offices; Spacious kitchen area; Built in 1972
