Office Building with Multiple
3455 Shelby Street, Indianapolis, IN 46227
For Sale
$299,900
Recent work includes new interior finishes, a water heater, and concrete at the front of the property.
Property Size1,200 SF
Price / SF$249.92
Days on Market80
Property Features for 3455 Shelby Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Road Access
Additional Details
Property Use
Building Details
Building Size
Year Built
Listing Agency:
Home Possible Realty LLC
(317) 774-4192
Listed By:
Ricardo Ortiz
Source:
Johnsonrealtysource
Added: Aug 27
Changed: Nov 11
Last Checked: Nov 13 at 11:57AM
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 Home Possible Realty LLC
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Investment Insights
Based on property information with market context.
This 1,200-square-foot office building at 3455 Shelby Street in Indianapolis has multiple rooms, restrooms, and natural light. The layout can accommodate separate office, reception, consultation, or waiting areas. Improvements include fresh paint, new flooring and doors, a replacement water heater, and new front concrete.
Built in 1950, the property is zoned Commercial Office General. Seller financing is available to qualified buyers.
Built in 1950, the property is zoned Commercial Office General. Seller financing is available to qualified buyers.
Key Highlights
- 1,200‑square‑foot office building
- Multiple rooms and restrooms, with natural light
- Recent work includes fresh paint, new flooring and doors, a new water heater, and new front concrete
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,753
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,060
$295.1K
Cap Rate 7%
$210,757
$210.8K
Cap Rate 9%
$163,922
$163.9K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$24.0K $20.04/SF
− Vacancy
−$4.4K −$3.65/SF
EGI
$19.7K $16.39/SF
− OpEx
−$4.9K −$4.10/SF
NOI
$14.8K $12.29/SF
Area
ZIP 46227
Vacancy
18.20%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,060
Cap Rate 7%
$210,757
Cap Rate 9%
$163,922
Alternative Uses
Best Use
Office B
$210.8K
$184.4K – $245.9K
NOI $14,753 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$298.2K
$260.9K – $347.9K
NOI $20,874 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 46227, IN
62,126
Population
26,411
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
83%
High-School Grad
16.7 sq mi
ZIP Area
3,720
Density / Sq Mi
$50,993
Median Household Income
$35,591
Median Earnings
$994
Median Rent
$192,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Indianapolis
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office building - Recent work includes new interior finishes, a water heater, and concrete at the front of the property.
Where is this office building located?
The property is located at 3455 Shelby Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,200‑square‑foot office building; Multiple rooms and restrooms, with natural light; Recent work includes fresh paint, new flooring and doors, a new water heater, and new front concrete
