Corporate Headquarters Building
For Sale
Contact for pricing
6402 Corporate Dr, Indianapolis, IN 46278
161,411 SF corporate headquarters in Corporate Center North.
Property Size161,411 SF
Price / SF$99
Days on Market214
Property Features for 6402 Corporate Dr
General Information
Standard status
Active
Size
161,411 SF
Class
B
Property subtype
Industrial
Zoning
CS
Lease Type
NNN
Building Details
Year Built
1996
Buildings
1
Stories
2
Listing Agency:
Reliant Commercial Realty
(317) 513-7790
Listed By:
Thomas Willey · License #IN RB14037602
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 6:39AM
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 Reliant Commercial Realty
Investment Insights
Based on property information with market context.
This 161,411 square foot corporate headquarters building is available for sale or lease. It is located in the Corporate Center North office park on the northwest side of Indianapolis. The property includes approximately 134,400 square feet of warehouse space with a 25-foot clear height, 11 dock doors, and 4 drive-in doors. The warehouse area also features two sets of single-stall restrooms. The office space, encompassing approximately 27,011 square feet across the first and second floors, is move-in ready. The office area includes open office areas, a second-floor executive office, multiple private offices, conference rooms, a kitchen/break room, multi-stall restrooms, and common areas with an elevator. The office space features 10-foot ceilings and stylized architectural features. A unique glass/window walls conference room is present. The building has visibility from I-465 and is easily accessible to I-465 and I-65. The location is on the southeast quadrant of I-465 and West 71st Street, just south of Park 100. There are abundant nearby amenities, including 96 restaurants, 21 hotels, and 16 banks. The property is approximately 20 minutes from the Indianapolis International Airport and approximately 30 minutes from Downtown Indy at Monument Circle. The parking ratio is 5 per 1,000 square feet.
Key Highlights
- 161,411± SF corporate headquarters building divisible for sale or lease.
- Prime northwest Indianapolis location with visibility from I‑465 and easy access to I‑465 and I‑65.
- Move‑in ready office space (27,011± SF) with executive offices, conference rooms, and kitchen/break room.
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
$977,051
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
6.05%
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%
$19,541,020
$19.5M
Cap Rate 7%
$13,957,871
$14.0M
Cap Rate 9%
$10,856,122
$10.9M
Market Conditions
NOI Build-Up for 161,411 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
$1.26M $7.80/SF
− Vacancy
−$109.5K −$0.68/SF
EGI
$1.15M $7.12/SF
− OpEx
−$172.4K −$1.07/SF
NOI
$977.1K $6.05/SF
Area
Indianapolis, IN
Vacancy
8.70%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
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%
$19,541,020
Cap Rate 7%
$13,957,871
Cap Rate 9%
$10,856,122
Alternative Uses
Best Use
Office B
$30.44M
$26.64M – $35.52M
NOI $2,131,109 @ 7.0% cap · market cap 13.20%
Second Best
Flex RnD
$22.66M
$19.83M – $26.44M
NOI $1,586,347 @ 7.0% cap · market cap 9.83%
Theoretical Best
Office A
$40.18M
$35.16M – $46.87M
NOI $2,812,425 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
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
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Frequently Asked Questions
What type of property is this?
Flex space - 161,411 SF corporate headquarters in Corporate Center North.
Where is this flex space located?
The property is located at 6402 Corporate Dr Indianapolis, IN.
What is the asking price?
The asking price for this property is $16,141,000.
What are key features of this property?
This property features: 161,411± SF corporate headquarters building divisible for sale or lease.; Prime northwest Indianapolis location with visibility from I‑465 and easy access to I‑465 and I‑65.; Move‑in ready office space (27,011± SF) with executive offices, conference rooms, and kitchen/break room.
