Office Building with
6408 Carrollton Avenue, Indianapolis, IN 46220
For Sale
$450,000
Three office rooms occupy a building originally constructed as a home in Indianapolis.
Property Size1,752 SF
Price / SF$256.85
Days on Market189
Property Features for 6408 Carrollton Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Office Units
Property Use
Building Details
Building Size
Year Built
Abandoned
Listing Agency:
F.C. Tucker Company
Listed By:
John Wright
Source:
Anniescottrealty
Added: May 5
Changed: Nov 7
Last Checked: Nov 8 at 8:46PM
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 F.C. Tucker Company
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Investment Insights
Based on property information with market context.
This 1,752-square-foot office property contains three offices and was built in 1910 as a home. The layout supports office use, with ten dedicated parking spaces on site.
The property is located on Carrollton Avenue in Indianapolis, within the Broad Ripple neighborhood.
The property is located on Carrollton Avenue in Indianapolis, within the Broad Ripple neighborhood.
Key Highlights
- 1,752 square feet of office space
- Three offices
- Ten dedicated parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,132
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,640
$462.6K
Cap Rate 7%
$330,457
$330.5K
Cap Rate 9%
$257,022
$257.0K
Market Conditions
NOI Build-Up for 1,752 SF
Gross rent
$37.8K $21.60/SF
− Vacancy
−$7.0K −$4.00/SF
EGI
$30.8K $17.60/SF
− OpEx
−$7.7K −$4.40/SF
NOI
$23.1K $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%
$462,640
Cap Rate 7%
$330,457
Cap Rate 9%
$257,022
Alternative Uses
Best Use
Office B
$330.5K
$289.2K – $385.5K
NOI $23,132 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.1K
$381.6K – $508.8K
NOI $30,527 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,404
Businesses Nearby
Explore this area
Business Placement
Demographics for 46220, IN
36,078
Population
17,524
Households
2.1
Avg Household Size
37
Median Age
67%
College-Educated
98%
High-School Grad
11.7 sq mi
ZIP Area
3,084
Density / Sq Mi
$103,735
Median Household Income
$58,867
Median Earnings
$1,330
Median Rent
$329,700
Median Home Value
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Market
Properties on Market for Office buildings in Indianapolis
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office building - Three office rooms occupy a building originally constructed as a home in Indianapolis.
Where is this office building located?
The property is located at 6408 Carrollton Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,752 square feet of office space; Three offices; Ten dedicated parking spaces
