Medical Office Space with Open
For Sale
$1,675,000
6635 E 21st Street, Indianapolis, IN 46219
ADA-accessible interior with multiple entrances and a broad mix of private and shared spaces.
Property Size7,548 SF
Price / SF$221.91
Days on Market107
Property Features for 6635 E 21st Street
General Information
Standard status
Active
Size
7,548 SF
Property subtype
Office
Site & Location
Neighborhood
Eastside
Amenities
flexible, ADA-accessible layout
new roof
water heater
eight gas furnaces and AC units
motion-sensored flood lights
new LED lighting
resurfaced parking lot
three private offices
four restrooms
conference room
break room
large waiting area
huge open room
multiple entrances
Building Details
Building Size
7,548 SF
Listing Agency:
Keller Williams Indy Metro Partners
Listed By:
Shelly Johnson · License #RB14043056
(317) 430-6995
Source:
Anniescottrealty
Added: Jul 13
Changed: Oct 26
Last Checked: Oct 26 at 3:43PM
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 Keller Williams Indy Metro Partners
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Investment Insights
Based on property information with market context.
At 6635 E 21st Street, this 7,548-square-foot medical office space combines three private offices, four restrooms, a conference room, a break room, a large waiting area and a substantial open room. The ADA-accessible layout also has multiple entrances. Recent improvements include a new roof and water heater, eight gas furnaces and AC units, motion-sensor flood lights, LED lighting and a resurfaced parking lot.
Two parking lots provide nearly 50 spaces. The open room and varied interior spaces offer several configurations within the existing medical office layout.
Two parking lots provide nearly 50 spaces. The open room and varied interior spaces offer several configurations within the existing medical office layout.
Key Highlights
- 7,548‑square‑foot medical office space
- ADA‑accessible layout with multiple entrances
- Three private offices, four restrooms, conference room, break room and large waiting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,996
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,999,920
$2.0M
Cap Rate 7%
$1,428,514
$1.4M
Cap Rate 9%
$1,111,067
$1.1M
Market Conditions
NOI Build-Up for 7,548 SF
Gross rent
$181.2K $24.00/SF
− Vacancy
−$14.5K −$1.92/SF
EGI
$166.7K $22.08/SF
− OpEx
−$66.7K −$8.83/SF
NOI
$100.0K $13.25/SF
Area
Indianapolis, IN
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,999,920
Cap Rate 7%
$1,428,514
Cap Rate 9%
$1,111,067
Alternative Uses
Best Use
Healthcare Medical
$1.43M
$1.25M – $1.67M
NOI $99,996 @ 7.0% cap · market cap 5.97%
Second Best
Office B
$1.42M
$1.25M – $1.66M
NOI $99,656 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,516 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46219, IN
36,556
Population
17,028
Households
2.1
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
13.0 sq mi
ZIP Area
2,812
Density / Sq Mi
$57,811
Median Household Income
$38,995
Median Earnings
$991
Median Rent
$177,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Medical Office Space - ADA-accessible interior with multiple entrances and a broad mix of private and shared spaces.
Where is this medical office space located?
The property is located at 6635 E 21st Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: 7,548‑square‑foot medical office space; ADA‑accessible layout with multiple entrances; Three private offices, four restrooms, conference room, break room and large waiting area
