Furnished Office
For Sale
Contact for pricing
5103 Madison Avenue Building 2, Indianapolis, IN 46227
Ten private offices include three executive offices, alongside a conference room and a break area with a full kitchen.
Property Size11,220 SF
Price / SF$0.85
Days on Market40
Property Features for 5103 Madison Avenue Building 2
General Information
Standard status
Active
Size
11,220 SF
Property subtype
Office
Space & Availability
Condition
Move-in Ready
Furnished
Yes
Site & Location
Neighborhood
Edgewood
Highway Access
Yes
Road Access
Yes
Additional Details
Property Use
Office
Amenities
conference room
break room with full kitchen
men's and women's restrooms
Building Details
Year Built
1974
Listing Agency:
Keller Williams Indy Metro Partners
(317) 882-5900
Listed By:
Shelly Johnson · License #RB14043056
(317) 430-6995
Source:
Locksteprealty
Added: Sep 21
Changed: Oct 28
Last Checked: Oct 28 at 1:26PM
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 Keller Williams Indy Metro Partners
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Investment Insights
Based on property information with market context.
This furnished office unit contains 10 private offices, including three executive offices, plus a conference room equipped for presentations and meetings. A break room with a full kitchen, separate men’s and women’s restrooms with dual stalls, and parking for employees and visitors round out the facility. The building dates to 1974.
Madison Avenue connects the property with Downtown Indianapolis, and I-465 is accessible from the location. The office layout and furnishings are already in place for a range of professional business operations.
Madison Avenue connects the property with Downtown Indianapolis, and I-465 is accessible from the location. The office layout and furnishings are already in place for a range of professional business operations.
Key Highlights
- 10 private offices, including 3 executive offices
- Conference room has TV input for presentations and meetings
- Break room includes a full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,945
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,758,900
$2.8M
Cap Rate 7%
$1,970,643
$2.0M
Cap Rate 9%
$1,532,722
$1.5M
Market Conditions
NOI Build-Up for 11,220 SF
Gross rent
$224.8K $20.04/SF
− Vacancy
−$40.9K −$3.65/SF
EGI
$183.9K $16.39/SF
− OpEx
−$46.0K −$4.10/SF
NOI
$137.9K $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%
$2,758,900
Cap Rate 7%
$1,970,643
Cap Rate 9%
$1,532,722
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,945 @ 7.0% cap · market cap 1,440.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,169 @ 7.0% cap · market cap 2,038.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
318
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
Market
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office unit - Ten private offices include three executive offices, alongside a conference room and a break area with a full kitchen.
Where is this office unit located?
The property is located at 5103 Madison Avenue Building 2 Indianapolis, IN.
What are key features of this property?
This property features: 10 private offices, including 3 executive offices; Conference room has TV input for presentations and meetings; Break room includes a full kitchen
