Private Office
For Sale
Contact for pricing
5324 W 16th Street, Indianapolis, IN 46224
Three private workspaces share a lobby, conference area, and restrooms, with access available around the clock.
Property Size4,500 SF
Price / SF$0.27
Days on Market64
Property Features for 5324 W 16th Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Office
Site & Location
Neighborhood
Speedway
Additional Details
Office Units
3
Property Use
Office
Amenities
shared lobby space
conference area
bathrooms
24/7 access
Listing Agency:
Highgarden Real Estate
(317) 205-4320
Listed By:
Sarah Remaley · License #RB18000440
(317) 280-4663
Source:
Locksteprealty
Added: Aug 28
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 Highgarden Real Estate
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Investment Insights
Based on property information with market context.
Three private office suites are available at 5324 W 16th Street in Indianapolis. The property includes a shared lobby, conference area, and bathrooms for suite users, with access available 24 hours a day, seven days a week.
Key Highlights
- Three private office suites available
- Shared lobby, conference area, and bathrooms
- 24/7 access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,414
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,188,280
$1.2M
Cap Rate 7%
$848,771
$848.8K
Cap Rate 9%
$660,156
$660.2K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$97.2K $21.60/SF
− Vacancy
−$18.0K −$4.00/SF
EGI
$79.2K $17.60/SF
− OpEx
−$19.8K −$4.40/SF
NOI
$59.4K $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%
$1,188,280
Cap Rate 7%
$848,771
Cap Rate 9%
$660,156
Alternative Uses
Best Use
Office B
$848.8K
$742.7K – $990.2K
NOI $59,414 @ 7.0% cap · market cap 4,951.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$980.1K – $1.31M
NOI $78,408 @ 7.0% cap · market cap 6,534.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
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Business Placement
Demographics for 46224, IN
38,822
Population
16,912
Households
2.3
Avg Household Size
32
Median Age
24%
College-Educated
83%
High-School Grad
7.2 sq mi
ZIP Area
5,392
Density / Sq Mi
$53,731
Median Household Income
$35,726
Median Earnings
$1,048
Median Rent
$166,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office unit - Three private workspaces share a lobby, conference area, and restrooms, with access available around the clock.
Where is this office unit located?
The property is located at 5324 W 16th Street Indianapolis, IN.
What are key features of this property?
This property features: Three private office suites available; Shared lobby, conference area, and bathrooms; 24/7 access
