Freestanding Office Building with
For Sale
Contact for pricing
6010 W 62ND ST, Indianapolis, IN 46278
Office and laboratory facility with dedicated lab areas, supporting warehouse space, specialized HVAC, and backup power.
Property Size8,093 SF
Price / SF$308.91
Days on Market119
Property Features for 6010 W 62ND ST
General Information
Standard status
Active
Size
8,093 SF
Class
A
Property subtype
Office
Zoning
C-3
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Office Units
1
Amenities
high ceilings
medical-grade HVAC
exterior back-up generator
warehouse with overhead door
exterior and monument signage
Building Details
Year Built
2005
Year Renovated
2022
Buildings
1
Stories
1
Units
1
Building Size
8,093 SF
Tenancy
Single
Listing Agency:
AFFINITY
Listed By:
Bill Welch · License #IN RB24000190
Source:
Crexi
Added: May 4
Changed: Aug 29
Last Checked: Aug 29 at 11:24PM
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 AFFINITY
Investment Insights
Based on property information with market context.
This 8,093-square-foot office building combines a professional workplace layout with dedicated laboratory infrastructure. The interior includes nine private offices, several conference rooms, lab areas with equipment, and storage space. High ceilings, medical-grade HVAC, and an exterior backup generator support specialized operations, while a 712-square-foot warehouse component with an overhead door adds practical service and storage capacity.
The property is located in Park 100 business park and provides direct access to I-465 for connectivity across the Indianapolis metro area. C-3 zoning, exterior signage, and monument signage further support a visible, identifiable business presence. Built in 2005, the facility offers a combination of office, lab, and warehouse improvements within a single freestanding property.
The property is located in Park 100 business park and provides direct access to I-465 for connectivity across the Indianapolis metro area. C-3 zoning, exterior signage, and monument signage further support a visible, identifiable business presence. Built in 2005, the facility offers a combination of office, lab, and warehouse improvements within a single freestanding property.
Key Highlights
- 8,093‑square‑foot freestanding office and laboratory building
- Nine private offices, multiple conference rooms, lab areas, and storage space
- Dedicated laboratory equipment included
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
$106,852
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
4.27%
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%
$2,137,040
$2.1M
Cap Rate 7%
$1,526,457
$1.5M
Cap Rate 9%
$1,187,244
$1.2M
Market Conditions
NOI Build-Up for 8,093 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
$174.8K $21.60/SF
− Vacancy
−$32.3K −$4.00/SF
EGI
$142.5K $17.60/SF
− OpEx
−$35.6K −$4.40/SF
NOI
$106.9K $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 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%
$2,137,040
Cap Rate 7%
$1,526,457
Cap Rate 9%
$1,187,244
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.78M
NOI $106,852 @ 7.0% cap · market cap 4.27%
Second Best
Flex RnD
$1.14M
$994.2K – $1.33M
NOI $79,538 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $141,012 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 46278, IN
8,910
Population
3,357
Households
2.7
Avg Household Size
45
Median Age
62%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
675
Density / Sq Mi
$153,930
Median Household Income
$79,007
Median Earnings
$1,172
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office and laboratory facility with dedicated lab areas, supporting warehouse space, specialized HVAC, and backup power.
Where is this office building located?
The property is located at 6010 W 62ND ST Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 8,093‑square‑foot freestanding office and laboratory building; Nine private offices, multiple conference rooms, lab areas, and storage space; Dedicated laboratory equipment included
