Flex Warehouse with Office
For Sale
Contact for pricing
5739 Professional Cir, Indianapolis, IN 46241
Flex warehouse featuring 15,700 SF of office space with three drive-in doors and two dock doors.
Property Size64,806 SF
Price / SF$61.72
Days on Market182
Property Features for 5739 Professional Cir
General Information
Standard status
Active
Size
64,806 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Office Build-Out
15,700 SF
Dock-High Doors
2
Drive-In Doors
3
Listing Agency:
Premier Commercial Real Estate Services, Inc.
(317) 454-7171
Listed By:
Matt Ferguson · License #RB17000936
(317) 679-4046
Source:
Moodyscre
Added: Mar 16
Changed: Aug 14
Last Checked: Sep 12 at 10:21AM
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.
Investment Insights
Based on property information with market context.
This flex warehouse includes 15,700 SF of office space and a functional loading configuration with three drive-in doors and two dock doors. Drive-in door sizes include 12' x 12' and 8' x 8'. Recent improvements include a new roof, updated mechanical system, exterior LED lighting, and security fencing.
The property is positioned for convenient regional access, with easy connectivity to I-465 and I-70 and close proximity to Indianapolis International Airport.
Overall, the combination of office space and multiple loading options supports a range of light industrial and warehouse-oriented uses, backed by the building’s recent exterior and systems updates.
The property is positioned for convenient regional access, with easy connectivity to I-465 and I-70 and close proximity to Indianapolis International Airport.
Overall, the combination of office space and multiple loading options supports a range of light industrial and warehouse-oriented uses, backed by the building’s recent exterior and systems updates.
Key Highlights
- 15,700 SF flex warehouse with office space
- Three drive‑in doors, including 12' x 12' and 8' x 8'
- Two dock doors for loading
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
$323,057
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
8.08%
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%
$6,461,140
$6.5M
Cap Rate 7%
$4,615,100
$4.6M
Cap Rate 9%
$3,589,522
$3.6M
Market Conditions
NOI Build-Up for 64,806 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
$505.5K $7.80/SF
− Vacancy
−$44.0K −$0.68/SF
EGI
$461.5K $7.12/SF
− OpEx
−$138.5K −$2.14/SF
NOI
$323.1K $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 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%
$6,461,140
Cap Rate 7%
$4,615,100
Cap Rate 9%
$3,589,522
Alternative Uses
Best Use
Flex RnD
$9.10M
$7.96M – $10.62M
NOI $636,913 @ 7.0% cap · market cap 15.92%
Second Best
Warehouse
$5.60M
$4.90M – $6.54M
NOI $392,283 @ 7.0% cap · market cap 9.81%
Theoretical Best
Office A
$16.13M
$14.11M – $18.82M
NOI $1,129,180 @ 7.0% cap · market cap 28.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Dock-high doors
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46241, IN
33,568
Population
12,414
Households
2.7
Avg Household Size
33
Median Age
15%
College-Educated
73%
High-School Grad
23.9 sq mi
ZIP Area
1,405
Density / Sq Mi
$51,598
Median Household Income
$33,477
Median Earnings
$1,118
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse featuring 15,700 SF of office space with three drive-in doors and two dock doors.
Where is this flex space located?
The property is located at 5739 Professional Cir Indianapolis, IN.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 15,700 SF flex warehouse with office space; Three drive‑in doors, including 12' x 12' and 8' x 8'; Two dock doors for loading
