6635 E 21st Indianapolis, IN 46219
Former medical office with ADA-accessible layout, multiple entrances, and ample off-street parking.
Property Features for 6635 E 21st
General Information
- Standard status
- Active
- Size
- 7,548 SF
- Property subtype
- Medical/Healthcare
Building Details
- Year Built
- 1990
Listing office Keller Williams Commercial | Johnson Realty (317) 883-9125
Listing date Jul 15, 2026
Source Thebrokerlist
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Investment Insights
Based on property information with market context.
The property includes multiple entrances and two parking lots with nearly 50 spaces, supporting access for staff, clients, and visitors. It is located along East 21st Street on Indianapolis’ east side with convenient connectivity to I-70/Shadeland Avenue, providing straightforward access to downtown Indianapolis, I-465, and surrounding Central Indiana communities.
The building’s configuration—private offices, restrooms, and a large open room—can accommodate both appointment-based and gathering-style environments, depending on the tenant’s operational needs.
Key Highlights
- 7,548 SF former medical office built in 1990 with an ADA‑accessible layout
- Flexible interior layout with three private offices, conference room, break room, and large waiting area plus a huge open room
- Four restrooms including multiple private office and meeting/break spaces
Local Financial Insights For Healthcare Medical
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 | $181.2k | $24.00 |
| − Vacancy | −$14.5k | −$1.92 |
| EGI | $166.7k | $22.08 |
| − OpEx | −$66.7k | −$8.83 |
| NOI | $100.0k | $13.25 |