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    Retail and Office Building with Suite Access Title is generated by Realmo AI

    6319 S East Street, Indianapolis, IN 46227

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    For Lease
    $4,195/Mo $0.39 SF/Yr (calc)

    Office - Indianapolis, IN

    Type:Office
    Property size:
    130,718 SF
    Lot size:
    3.00 Acres
    Added:
    Jun 2, 2025
    Days on Market:
    368
    Last Refresh:
    Jun 4 at 9:06 am

    Property Features for 6319 S East Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    CS
    Standard status
    Active
    APN
    491412139014000500
    Size
    130,718 SF
    Lot size
    3.00 Acres

    Building Details

    Year built
    1991
    Architectural style
    Other

    We can help!

    Listing Contact
    Josie Lavey

    Listing agent Josie Lavey License #RB20001480

    Listing office Keller Williams Indpls Metro N N Meridian St Ste 200, Carmel, IN

    Listing date Jun 2, 2025

    MLS# 22042620 Listing URL

    Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Built in 1991 commercial property with flexible office or retail space
    • Frontage on US 31 South with direct access to suites
    • Abundant on‑site parking for tenants and visitors
    • Convenient access to I‑465 via US 31
    • Approximately 6 miles to Downtown Indianapolis
    • On‑site suite layouts designed for open‑concept offices or customized retail layouts

    Overview

    This commercial property was under new ownership and management beginning in 2021 and is set up to support both office and retail tenants. Suites provide direct access, and the building’s floor plans are described as flexible enough to accommodate open-concept office needs as well as customized retail layouts. The property also offers abundant on-site parking for employee and customer convenience. Zoning is listed as CS.

    The building fronts US 31 South and is positioned for convenient regional connectivity, with access to I-465 via US 31. It is also described as approximately 6 miles from Downtown Indianapolis.

    For tenants or operators seeking adaptable space, the direct suite access and on-site parking can help simplify day-to-day operations, whether the use is predominantly office-oriented or retail-focused. Because the property is presented as supporting multiple layout types, it may be a fit for businesses that need the ability to configure space beyond a single standard plan, while still benefiting from a commercially accessible setting with frontage on a major corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Fletcher Investment Management Financial Advisor T K Accounting Tax Preparation

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.148279
    Latitude
    39.674482

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    FAQs

    What type of property is this?
    Office units - Flexible suites suited for office or retail use with direct access and ample on-site parking along US 31.
    Where is this office units located?
    The property is located at 6319 S East Street Indianapolis, IN.
    What is the lease rate?
    The lease rate is $4,195 /Mo.
    What are key features of this property?
    This property features: Built in 1991 commercial property with flexible office or retail space; Frontage on US 31 South with direct access to suites; Abundant on‑site parking for tenants and visitors
    (317) 846-6300
    We can help!
    Listing Contact
    Josie Lavey
    Real Estate License ID: RB20001480
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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