Freestanding Office
For Sale
Contact for pricing
4451 Old Allisonville Rd, Indianapolis, IN 46205
Well-maintained free-standing building with gated parking, private offices, and two bathrooms for flexible business use.
Property Size1,300 SF
Price / SF$206.92
Days on Market459
Property Features for 4451 Old Allisonville Rd
General Information
Standard status
Active
Size
1,300 SF
Class
C
Property subtype
Office
Zoning
C5
Additional Details
Fenced Yard
Yes
Amenities
lobby
private offices
kitchen
laundry room
bathrooms
storage
gated parking
Listing Agency:
ALO Property Group
Listed By:
Jack Seamands · License #RB23002204
(463) 230-5158
Source:
Crexi
Added: Jun 7, 2025
Changed: Aug 14
Last Checked: Sep 8 at 8:38AM
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 ALO Property Group
Investment Insights
Based on property information with market context.
This well-maintained, free-standing building is designed for business use and includes a newly constructed interior. The space features a lobby, private offices, a kitchen, a laundry room, two bathrooms, and ample storage throughout. Parking is available in both the front and rear, supported by a gated parking lot, with easy site access.
Zoned C5, the property is conveniently located near Fall Creek, Binford, Keystone, Broad Ripple, and downtown Indianapolis, providing quick access to both business and residential areas.
Overall, the layout supports multiple day-to-day functions within the building, with dedicated private office areas and back-of-house conveniences including kitchen and laundry.
Zoned C5, the property is conveniently located near Fall Creek, Binford, Keystone, Broad Ripple, and downtown Indianapolis, providing quick access to both business and residential areas.
Overall, the layout supports multiple day-to-day functions within the building, with dedicated private office areas and back-of-house conveniences including kitchen and laundry.
Key Highlights
- Well‑maintained free‑standing building with gated parking lot and front and rear parking access
- Newly constructed interior layout includes a lobby, private offices, kitchen, and laundry room
- Includes 2 bathrooms and ample storage for day‑to‑day operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,164
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$343,280
$343.3K
Cap Rate 7%
$245,200
$245.2K
Cap Rate 9%
$190,711
$190.7K
Market Conditions
NOI Build-Up for 1,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.1K $21.60/SF
− Vacancy
−$5.2K −$4.00/SF
EGI
$22.9K $17.60/SF
− OpEx
−$5.7K −$4.40/SF
NOI
$17.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$343,280
Cap Rate 7%
$245,200
Cap Rate 9%
$190,711
Alternative Uses
Best Use
Office B
$245.2K
$214.6K – $286.1K
NOI $17,164 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$323.6K
$283.1K – $377.5K
NOI $22,651 @ 7.0% cap · market cap 8.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 46205, IN
27,531
Population
14,756
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
4,440
Density / Sq Mi
$65,756
Median Household Income
$48,138
Median Earnings
$1,087
Median Rent
$278,000
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained free-standing building with gated parking, private offices, and two bathrooms for flexible business use.
Where is this office building located?
The property is located at 4451 Old Allisonville Rd Indianapolis, IN.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Well‑maintained free‑standing building with gated parking lot and front and rear parking access; Newly constructed interior layout includes a lobby, private offices, kitchen, and laundry room; Includes 2 bathrooms and ample storage for day‑to‑day operations
