Freestanding Office and Daycare
For Sale
Contact for pricing
4521 Independence Sq, Indianapolis, IN 46203
Freestanding 4,928-square-foot building on 1.08 acres, vacant and well-maintained, zoned CS for a variety of commercial uses.
Property Size4,928 SF
Lot Size1.08 Acres
Price / SF$263.60
Days on Market77
Property Features for 4521 Independence Sq
General Information
Standard status
Active
Size
4,928 SF
Lot size
1.08 Acres
Property subtype
OFFICE
Zoning
CS
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
F.C. Tucker Company
Listed By:
Annie Scott · License #RB15000739
(317) 902-8622
Source:
Moodyscre
Added: Jun 29
Changed: Sep 8
Last Checked: Sep 12 at 10:46AM
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 F.C. Tucker Company
Investment Insights
Based on property information with market context.
A vacant, well-maintained freestanding building totaling 4,928 square feet sits on 1.08 acres and is positioned for immediate use. The property’s former daycare layout provides a functional interior configuration for a range of commercial applications, and the site includes ample parking to support day-to-day operations.
The property is located at 4521 Independence Square in Indianapolis, within the CS (Commercial Service) zoning classification in Marion County. The listing notes strong connectivity to major interstates, with access just minutes from I-465, I-65, and I-74.
Zoning flexibility supports professional and medical office use, daycare or educational facilities, veterinary clinics, fitness or wellness studios, salons and personal services, small-format retail, and other neighborhood-serving commercial operations.
The property is located at 4521 Independence Square in Indianapolis, within the CS (Commercial Service) zoning classification in Marion County. The listing notes strong connectivity to major interstates, with access just minutes from I-465, I-65, and I-74.
Zoning flexibility supports professional and medical office use, daycare or educational facilities, veterinary clinics, fitness or wellness studios, salons and personal services, small-format retail, and other neighborhood-serving commercial operations.
Key Highlights
- 4,928‑square‑foot freestanding former daycare on 1.08 acres in Indianapolis, IN 46203
- Vacant and well‑maintained, ready for immediate use
- Zoned CS (Commercial Service) in Marion County, supporting a variety of commercial uses
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
$65,064
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
5.01%
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%
$1,301,280
$1.3M
Cap Rate 7%
$929,486
$929.5K
Cap Rate 9%
$722,933
$722.9K
Market Conditions
NOI Build-Up for 4,928 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
$106.4K $21.60/SF
− Vacancy
−$19.7K −$4.00/SF
EGI
$86.8K $17.60/SF
− OpEx
−$21.7K −$4.40/SF
NOI
$65.1K $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%
$1,301,280
Cap Rate 7%
$929,486
Cap Rate 9%
$722,933
Alternative Uses
Best Use
Office B
$929.5K
$813.3K – $1.08M
NOI $65,064 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,865 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
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Similar Off Market Nearby
- Edgewood Preschool Cooperative — 4700 Shelbyville Rd, Indianapolis, IN 46237
- Kid City USA BeechGrove — 4545 Independence Square, Indianapolis, IN 46203
- Quality Preschool — 5701 Elmwood Ave Suite E, Indianapolis, IN 46203
Frequently Asked Questions
What type of property is this?
Day care center - Freestanding 4,928-square-foot building on 1.08 acres, vacant and well-maintained, zoned CS for a variety of commercial uses.
Where is this day care center located?
The property is located at 4521 Independence Sq Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 4,928‑square‑foot freestanding former daycare on 1.08 acres in Indianapolis, IN 46203; Vacant and well‑maintained, ready for immediate use; Zoned CS (Commercial Service) in Marion County, supporting a variety of commercial uses
