Flex/Warehouse Spaces with Fenced
For Sale
Contact for pricing
55 S State Ave. Indianapolis, Indianapolis, IN 46201
Unique flex/warehouse spaces with fenced land near downtown Indianapolis.
Property Size127,798 SF
Price / SF$0.00
Days on Market399
Property Features for 55 S State Ave. Indianapolis
General Information
Standard status
Active
Size
127,798 SF
Class
B
Property subtype
Office
Lease Term
MG; NNN
Site & Location
Neighborhood
Fountain Square
Building Details
Building Size
127,798 SF
Properties For Sale
at 55 S State Ave. Indianapolis Contact us| Name | Size | Type | Rate | Availability | |
|---|---|---|---|---|---|
| Fenced Parking | — | — | — | — | Contact us |
| Suite 100 | 4,320 SF | Flex Space | — | — | Contact us |
| Suite 100A | 3,443 SF | Flex Space | — | — | Contact us |
| Suite 101 | 1,084 SF | Flex Space | — | — | Contact us |
| Suite 106 | 409 SF | Flex Space | — | — | Contact us |
| Suite 107 | 405 SF | Flex Space | — | — | Contact us |
| Suite 108/109 | 3,486 SF | Flex Space | — | — | Contact us |
| Suite 111 | 3,899 SF | Flex Space | — | — | Contact us |
| Suite 112 | 862 SF | Flex Space | — | — | Contact us |
| Suite 114 | 2,976 SF | Flex Space | — | — | Contact us |
| Suite 115 | 822 SF | Flex Space | — | — | Contact us |
Show all 11 spaces
Listing Agency:
Premier Commercial Real Estate Services, Inc.
Listed By:
Matt Ferguson · License #RB17000936
(317) 679-4046
Source:
Tcnworldwide
Added: Sep 25, 2025
Changed: Oct 25
Last Checked: Oct 28 at 6:11AM
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 Premier Commercial Real Estate Services, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The A&P Building offers economical workspaces designed for small business proprietors and professionals seeking to move beyond home-based offices. It fosters a vibrant community of entrepreneurs through a collaborative atmosphere, providing unique flex and warehouse spaces. The property also includes 2 acres of fenced land suitable for additional parking or trailer storage. Located less than a mile from the I-70 and I-65 interchange on the east side of Downtown Indianapolis, it is only one mile from The Circle and one block south of E. Washington St./US 40, a main east-west thoroughfare. The property is adjacent to Willard Park and close to neighborhoods such as Mass Ave., Fletcher Place, and Fountain Square. It offers large or small flex/warehouse spaces, up to 10,000 square feet. On-site amenities include security, maintenance, property management, and free parking. An auditorium and conference center are available, as well as a shared breakroom. The property size is 127798 square feet.
Key Highlights
- Flexible warehouse spaces available, up to 10,000 SF.
- +/- 2 AC fenced lot for additional parking and/or trailer storage.
- Less than a mile to the I‑70 & I‑65 interchange and one mile to The Circle.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$637,070
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,741,400
$12.7M
Cap Rate 7%
$9,101,000
$9.1M
Cap Rate 9%
$7,078,556
$7.1M
Market Conditions
NOI Build-Up for 127,798 SF
Gross rent
$996.8K $7.80/SF
− Vacancy
−$86.7K −$0.68/SF
EGI
$910.1K $7.12/SF
− OpEx
−$273.0K −$2.14/SF
NOI
$637.1K $4.98/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,741,400
Cap Rate 7%
$9,101,000
Cap Rate 9%
$7,078,556
Alternative Uses
Best Use
Flex RnD
$17.94M
$15.70M – $20.93M
NOI $1,255,999 @ 7.0% cap · market cap 14,587,677.12%
Second Best
Warehouse
$11.05M
$9.67M – $12.89M
NOI $773,586 @ 7.0% cap · market cap 8,984,738.68%
Theoretical Best
Office A
$31.81M
$27.83M – $37.11M
NOI $2,226,752 @ 7.0% cap · market cap 25,862,392.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Industrial in Indianapolis, IN
Similar Off Market Nearby
- Casa Boricua — 1317 Lexington Ave, Indianapolis, IN 46203
- Quick bite — 730 S State Ave, Indianapolis, IN 46203
- Universal Catering — 1201 E New York St, Indianapolis, IN 46202
- Terri's Corner Kitchen — 2805 E Michigan St, Indianapolis, IN 46201
Frequently Asked Questions
What type of property is this?
Flex space - Unique flex/warehouse spaces with fenced land near downtown Indianapolis.
Where is this flex space located?
The property is located at 55 S State Ave. Indianapolis Indianapolis, IN.
What are key features of this property?
This property features: Flexible warehouse spaces available, up to 10,000 SF.; +/- 2 AC fenced lot for additional parking and/or trailer storage.; Less than a mile to the I‑70 & I‑65 interchange and one mile to The Circle.
