Open-Plan Office
New
For Sale
$1,200,000
601 North Capitol Avenue, Indianapolis, IN 46204
CBD-2 zoning, two ADA restrooms, and on-site parking support a flexible office layout.
Property Size5,100 SF
Lot Size0.18 Acres
Price / SF$235.29
Days on Market5
Property Features for 601 North Capitol Avenue
General Information
Standard status
Active
Size
5,100 SF
Total Parking Spaces
6
Lot size
0.18 Acres
Property subtype
Office
Zoning
CBD-2
Site & Location
Neighborhood
Downtown
Additional Details
Asking Price
$1,200,000
Building Details
Year Renovated
2021
Listing Agency:
CBRE | Indianapolis
Listed By:
Jeff Merritt · License #RB14033827
(317) 269-1040
Source:
Cbre
Added: Oct 24
Changed: Oct 26
Last Checked: Oct 28 at 7:42AM
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 CBRE | Indianapolis
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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.
This office building contains 5,100 square feet on a 0.18-acre parcel. Its open floor plan is served by two ADA restrooms, and the property has six parking spaces. A new roof and HVAC system were installed in 2021.
The property is located at 601 North Capitol Avenue in Indianapolis and is zoned CBD-2.
The property is located at 601 North Capitol Avenue in Indianapolis and is zoned CBD-2.
Key Highlights
- 5,100 SF building on 0.18 AC
- Open floor plan
- Two ADA restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,335
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,346,700
$1.3M
Cap Rate 7%
$961,929
$961.9K
Cap Rate 9%
$748,167
$748.2K
Market Conditions
NOI Build-Up for 5,100 SF
Gross rent
$110.2K $21.60/SF
− Vacancy
−$20.4K −$4.00/SF
EGI
$89.8K $17.60/SF
− OpEx
−$22.4K −$4.40/SF
NOI
$67.3K $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%
$1,346,700
Cap Rate 7%
$961,929
Cap Rate 9%
$748,167
Alternative Uses
Best Use
Office B
$961.9K
$841.7K – $1.12M
NOI $67,335 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,862 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 46204, IN
9,086
Population
6,582
Households
1.4
Avg Household Size
31
Median Age
61%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
8,260
Density / Sq Mi
$88,081
Median Household Income
$69,226
Median Earnings
$1,686
Median Rent
$350,400
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 building - CBD-2 zoning, two ADA restrooms, and on-site parking support a flexible office layout.
Where is this office building located?
The property is located at 601 North Capitol Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,100 SF building on 0.18 AC; Open floor plan; Two ADA restrooms
