For-Sale Office
For Sale
$2,450,000
4929 E 96th Street, Indianapolis, IN 46240
Well-located office building for sale with GPS-friendly access in Marion County.
Property Size11,780 SF
Days on Market58
Property Features for 4929 E 96th Street
General Information
Standard status
Active
Size
11,780 SF
Zoning
Commercial General Office
Amenities
Central Air
Electric, Forced Air, Natural Gas
Lake
Asphalt
Building Details
Building Size
11,780 SF
Year Built
2004
Stories
1
Listing Agency:
CENTURY 21 Scheetz
(317) 844-5111
Listed By:
Mick Scheetz · License #RB14035762
Source:
Evrealestate
Added: Jun 27
Changed: Aug 22
Last Checked: Aug 22 at 5:33AM
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 CENTURY 21 Scheetz
Investment Insights
Based on property information with market context.
This for-sale office building at 4929 E 96th Street is presented as a commercial office asset, offered under an office-building/office-space property type grouping. The listing materials note GPS-friendly directions, supporting convenient navigation for brokers and prospective buyers.
The property is located in Marion County, Indiana. The provided directional guidance indicates the address can be located easily using GPS, which can simplify showing coordination and tenant or buyer site visits.
Because the listing data does not include details such as unit configuration, square footage, building condition, or specific improvements, buyers and tenants should rely on an on-site review for layout and finish verification. That said, the asset is positioned for commercial office use and is suitable for parties seeking an office building to evaluate for their operating needs, whether for owner-occupancy or repositioning after due diligence.
The property is located in Marion County, Indiana. The provided directional guidance indicates the address can be located easily using GPS, which can simplify showing coordination and tenant or buyer site visits.
Because the listing data does not include details such as unit configuration, square footage, building condition, or specific improvements, buyers and tenants should rely on an on-site review for layout and finish verification. That said, the asset is positioned for commercial office use and is suitable for parties seeking an office building to evaluate for their operating needs, whether for owner-occupancy or repositioning after due diligence.
Key Highlights
- Office building built in 2004
- Central Air cooling plus electric, forced air, and natural gas heating
- Lake view
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
$155,531
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
6.35%
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%
$3,110,620
$3.1M
Cap Rate 7%
$2,221,871
$2.2M
Cap Rate 9%
$1,728,122
$1.7M
Market Conditions
NOI Build-Up for 11,780 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
$254.4K $21.60/SF
− Vacancy
−$47.1K −$4.00/SF
EGI
$207.4K $17.60/SF
− OpEx
−$51.8K −$4.40/SF
NOI
$155.5K $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%
$3,110,620
Cap Rate 7%
$2,221,871
Cap Rate 9%
$1,728,122
Alternative Uses
Best Use
Office B
$2.22M
$1.94M – $2.59M
NOI $155,531 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.93M
$2.57M – $3.42M
NOI $205,255 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 46240, IN
20,148
Population
11,673
Households
1.7
Avg Household Size
40
Median Age
59%
College-Educated
96%
High-School Grad
9.8 sq mi
ZIP Area
2,056
Density / Sq Mi
$70,728
Median Household Income
$51,822
Median Earnings
$1,255
Median Rent
$328,600
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-located office building for sale with GPS-friendly access in Marion County.
Where is this office building located?
The property is located at 4929 E 96th Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Office building built in 2004; Central Air cooling plus electric, forced air, and natural gas heating; Lake view
