Move-In Ready Office
For Sale
$2,563,525
44 E Washington St, Indianapolis, IN 46204
Move-in ready office building with a newly completed renovation.
Property Size12,000 SF
Days on Market102
Property Features for 44 E Washington St
General Information
Standard status
Active
Size
12,000 SF
Class
A
Property subtype
Office - General Office
Site & Location
Neighborhood
Downtown
Building Details
Building Size
12,000 SF
Year Built
1919
Listing Agency:
Colliers
Listed By:
Rich Forslund · License #RB14040892
(317) 507-8591
Source:
Commercialcafe
Added: Jul 14
Changed: Oct 8
Last Checked: Oct 23 at 3:54AM
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 Colliers
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Investment Insights
Based on property information with market context.
This move-in ready office building has undergone a newly completed renovation. The property is offered for sale and is positioned for an immediate transition to an operational office use.
Located at 44 E Washington St in Indianapolis, the building provides a straightforward office option for buyers seeking a renovated, ready-to-occupy asset.
Located at 44 E Washington St in Indianapolis, the building provides a straightforward office option for buyers seeking a renovated, ready-to-occupy asset.
Key Highlights
- Move‑in ready office building
- Newly completed renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,436
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,168,720
$3.2M
Cap Rate 7%
$2,263,371
$2.3M
Cap Rate 9%
$1,760,400
$1.8M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$259.2K $21.60/SF
− Vacancy
−$48.0K −$4.00/SF
EGI
$211.2K $17.60/SF
− OpEx
−$52.8K −$4.40/SF
NOI
$158.4K $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%
$3,168,720
Cap Rate 7%
$2,263,371
Cap Rate 9%
$1,760,400
Alternative Uses
Best Use
Office B
$2.26M
$1.98M – $2.64M
NOI $158,436 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.99M
$2.61M – $3.48M
NOI $209,088 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,857
Businesses Nearby
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Business Placement
Demographics for 46204, IN
9,086
Population
6,582
Households
1.4
Avg Household Size
31
Median Age
61%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
8,260
Density / Sq Mi
$88,081
Median Household Income
$69,226
Median Earnings
$1,686
Median Rent
$350,400
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 building - Move-in ready office building with a newly completed renovation.
Where is this office building located?
The property is located at 44 E Washington St Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,563,525.
What are key features of this property?
This property features: Move‑in ready office building; Newly completed renovation
