Flex Space With Loading
For Sale
$1,995,000
6230 N Corporate Dr, Indianapolis, IN 46278
Industrial property combining warehouse functionality with office and showroom areas in Indianapolis.
Property Size11,600 SF
Price / SF$171.98
Days on Market30
Property Features for 6230 N Corporate Dr
General Information
Standard status
Active
Size
11,600 SF
Total Parking Spaces
17
Warehouse & Industrial
Clear Height
20 ft
Dock-High Doors
2
Drive-In Doors
3
Building Details
Year Built
2002
Buildings
1
Construction
Concrete Panels
Listing Agency:
McClure Commercial&Industrial
Listed By:
Ted McClure · License #RB14024675.
(317) 722-6700
Source:
Megandusing
Added: Aug 10
Changed: Sep 8
Last Checked: Sep 8 at 3:35AM
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 McClure Commercial&Industrial
Investment Insights
Based on property information with market context.
This flex space is configured for industrial use with 20-foot clear height, two dock positions, and three drive-in doors. Concrete panel construction supports the building envelope, while interior improvements include office space and a small showroom. On-site parking includes 17 spaces.
The property is located at 6230 Corporate Dr in Indianapolis, providing an established address for an industrial or flex-space operation. Its combination of loading infrastructure, parking, and finished office and display areas accommodates both warehouse functions and administrative or customer-facing needs.
The property is located at 6230 Corporate Dr in Indianapolis, providing an established address for an industrial or flex-space operation. Its combination of loading infrastructure, parking, and finished office and display areas accommodates both warehouse functions and administrative or customer-facing needs.
Key Highlights
- 20' clear ceiling height
- Two dock positions and three drive‑in doors
- Concrete panel construction
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
$153,155
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
7.68%
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%
$3,063,100
$3.1M
Cap Rate 7%
$2,187,929
$2.2M
Cap Rate 9%
$1,701,722
$1.7M
Market Conditions
NOI Build-Up for 11,600 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
$250.6K $21.60/SF
− Vacancy
−$46.4K −$4.00/SF
EGI
$204.2K $17.60/SF
− OpEx
−$51.1K −$4.40/SF
NOI
$153.2K $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%
$3,063,100
Cap Rate 7%
$2,187,929
Cap Rate 9%
$1,701,722
Alternative Uses
Best Use
Office B
$2.19M
$1.91M – $2.55M
NOI $153,155 @ 7.0% cap · market cap 7.68%
Second Best
Flex RnD
$1.63M
$1.43M – $1.90M
NOI $114,005 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,118 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
2
Dock-high doors
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial property combining warehouse functionality with office and showroom areas in Indianapolis.
Where is this flex space located?
The property is located at 6230 N Corporate Dr Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 20' clear ceiling height; Two dock positions and three drive‑in doors; Concrete panel construction
