Occupied Flex
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For Sale
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6625 Network Way, Indianapolis, IN 46278
Office, warehouse, and lab components support a flexible commercial configuration with loading access and full occupancy.
Property Size89,506 SF
Price / SF$130.96
Days on Market6
Property Features for 6625 Network Way
General Information
Standard status
Active
Size
89,506 SF
Total Parking Spaces
362
Property subtype
Office, Industrial
Zoning
C-S, Commercial - Special District
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$893,077
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1999
Year Renovated
2026
Buildings
1
Tenancy
Multi
Building Size
89,506 SF
Abandoned
No
Listing Agency:
Marcus & Millichap - Indianapolis
(317) 218-5334
Listed By:
Joseph DiSalvo · License #IN RB14051407
Source:
Crexi
Added: Jul 31
Changed: Aug 5
Last Checked: Aug 5 at 6:54AM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
Built in 1999, this 89,506-square-foot flex property combines office areas with integrated warehouse and lab space. Approximately 32% of the building is dedicated to warehouse and lab functions, with multiple dock-high and drive-in loading doors supporting varied operational requirements. The property is 100% occupied and carries a 5.37-year weighted average remaining lease term. Its tenant base includes healthcare, professional services, corporate, and industrial support users. Most leases use NNN or base-year expense stop structures, with provisions allowing certain qualifying capital expenditures to be amortized and reimbursed by tenants.
The property is located at 6625 Network Way in Indianapolis and offers immediate access to I-465, I-65, and I-865. Downtown Indianapolis is approximately 15 minutes away, while Indianapolis International Airport is approximately 20 minutes away. A new roof was installed in 2025, alongside tenant improvements, building system upgrades, and parking lot repairs completed since 2022.
The property is located at 6625 Network Way in Indianapolis and offers immediate access to I-465, I-65, and I-865. Downtown Indianapolis is approximately 15 minutes away, while Indianapolis International Airport is approximately 20 minutes away. A new roof was installed in 2025, alongside tenant improvements, building system upgrades, and parking lot repairs completed since 2022.
Key Highlights
- 89,506‑square‑foot flex property with office, warehouse, and lab components
- 100% occupied with a 5.37‑year weighted average remaining lease term
- Approximately 32% of the building consists of integrated warehouse and lab space
Financial Insights For Flex RnD
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.50M | $16.80 |
| − Vacancy | −$150.4k | −$1.68 |
| EGI | $1.35M | $15.12 |
| − OpEx | −$473.7k | −$5.29 |
| NOI | $879.7k | $9.83 |
89,506 SF · lease $16.80/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Office B
$16.88M
$14.77M – $19.70M
NOI $1,181,748 @ 7.0% cap · market cap 10.08%
Second Best
Flex RnD
$12.57M
$11.00M – $14.66M
NOI $879,665 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$22.28M
$19.49M – $25.99M
NOI $1,559,553 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
276
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 - Office, warehouse, and lab components support a flexible commercial configuration with loading access and full occupancy.
Where is this flex space located?
The property is located at 6625 Network Way Indianapolis, IN.
What is the asking price?
The asking price for this property is $11,722,000.
What are key features of this property?
This property features: 89,506‑square‑foot flex property with office, warehouse, and lab components; 100% occupied with a 5.37‑year weighted average remaining lease term; Approximately 32% of the building consists of integrated warehouse and lab space
