Flexible Office
For Lease
$12 SF/Yr
5550 Elmwood Court, Indianapolis, IN 46203
Commercial Lease, Indianapolis, IN
Space Size1,500 SF - 6,000 SF
Lot Size2.71 Acres
Days on Market205
Property Features for 5550 Elmwood Court
General Information
Property type
Commercial Lease
Property subtype
Office
Zoning
I-3
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Subdivision
4906 - Marion - Franklin
Standard status
Active
APN
491034120014000302
Lot size
2.71 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Jwr Minor Subdivision L1
Tax Annual Amount
46774
Legal Description
Jwr Minor Subdivision L1
Listing Agency:
RE/MAX Advanced Realty · RE/MAX International
(317) 881-3700
Listed By:
Keith Turnbill
(317) 298-0961
Added: Apr 8
Changed: Oct 8
Last Checked: Oct 29 at 8:06AM
MLS# 22094479
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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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.
Office units ranging from 1,500 to 6,000 square feet are available for lease within a flexible commercial property. The space can be arranged with private offices, open work areas, conference rooms, and collaborative areas, supporting insurance agencies, accounting firms, call centers, and other office-based operations. Utilities are included, excluding telephone service.
The property sits on 2.71 acres in Indianapolis, less than 6 miles from downtown and with immediate access to I-465. I-3 zoning is in place, and the location provides a direct connection to the surrounding road network for employees and clients.
The property sits on 2.71 acres in Indianapolis, less than 6 miles from downtown and with immediate access to I-465. I-3 zoning is in place, and the location provides a direct connection to the surrounding road network for employees and clients.
Key Highlights
- Office units from 1,500 to 6,000 square feet
- Flexible layouts with private offices, open work areas, conference rooms, and collaborative areas
- Utilities included, except telephone service
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
NNN (Triple Net)
Lease Type
$1.80 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Lease Benchmarks for Indianapolis, IN
$22.47 /SF/Yr
Avg Asking Price
$1.97–$275 /SF/Yr
Price Range
8,799 SF
Avg Space Size
This space is priced 47% below the average of $22.47 /SF/Yr.
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office unit - Adaptable office accommodation with utilities included except telephone service.
Where is this office unit located?
The property is located at 5550 Elmwood Court Indianapolis, IN.
What is the lease rate?
The lease rate is $12 SF/Yr.
What are key features of this property?
This property features: Office units from 1,500 to 6,000 square feet; Flexible layouts with private offices, open work areas, conference rooms, and collaborative areas; Utilities included, except telephone service
