Office Building with Tall Clear
For Sale
$1,800,000
727 E Main Street, Westfield, IN 46074
Commercial Sale, Westfield, IN
Property Size6,000 SF
Lot Size0.64 Acres
Price / SF$300
Days on Market126
Property Features for 727 E Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
GB
Parking features
Assigned
Elementary school district
Westfield-Washington Schools
Middle school district
Westfield-Washington Schools
High school district
Westfield-Washington Schools
Directions
GPS Friendly
Subdivision
2913 - Hamilton - Washington
Standard status
Active
APN
291006000005402015
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Acreage .64, Section 6, Township 18, Range 4, Westfield Center, Section 1, Lot 2, Irregular Shape
Tax Annual Amount
16710
Legal Description
Acreage .64, Section 6, Township 18, Range 4, Westfield Center, Section 1, Lot 2, Irregular Shape
Amenities
monument signage
Listing Agency:
WKRP Indy Real Estate
(317) 698-2700
Listed By:
Curtis Lee Whitesell · License #RB14033093
(317) 203-9577
Added: Jun 10
Changed: Oct 8
Last Checked: Oct 13 at 3:06AM
MLS# 22107459
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The single-story office building contains 6,000 square feet, with 18-foot clear heights and a 0.64-acre site. Monument signage and assigned on-site parking are also part of the property. Its GB zoning is identified in the property information.
The site is on E Main Street in Westfield, east of downtown. Grand Junction Plaza and downtown restaurants, shops, and other destinations are nearby. The property is approximately one mile from the US-31 interchange, about 13 minutes from I-465, and roughly 40 minutes from the airport.
The site is on E Main Street in Westfield, east of downtown. Grand Junction Plaza and downtown restaurants, shops, and other destinations are nearby. The property is approximately one mile from the US-31 interchange, about 13 minutes from I-465, and roughly 40 minutes from the airport.
Key Highlights
- 6,000 SF single‑story office building
- 18‑foot clear heights
- 0.64‑acre site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,994
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,579,880
$1.6M
Cap Rate 7%
$1,128,486
$1.1M
Cap Rate 9%
$877,711
$877.7K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$116.6K $19.44/SF
− Vacancy
−$11.3K −$1.89/SF
EGI
$105.3K $17.55/SF
− OpEx
−$26.3K −$4.39/SF
NOI
$79.0K $13.17/SF
Area
Hamilton County, IN
Vacancy
9.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,579,880
Cap Rate 7%
$1,128,486
Cap Rate 9%
$877,711
Alternative Uses
Best Use
Office B
$1.13M
$987.4K – $1.32M
NOI $78,994 @ 7.0% cap · market cap 4.39%
Second Best
Industrial
$325.4K
$284.7K – $379.6K
NOI $22,776 @ 7.0% cap · market cap 1.27%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,805 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 46074, IN
42,598
Population
17,118
Households
2.5
Avg Household Size
36
Median Age
61%
College-Educated
97%
High-School Grad
36.4 sq mi
ZIP Area
1,170
Density / Sq Mi
$123,580
Median Household Income
$60,250
Median Earnings
$1,550
Median Rent
$400,000
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 Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - A single-story commercial building combines office space with Main Street exposure and on-site assigned parking.
Where is this office building located?
The property is located at 727 E Main Street Westfield, IN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 6,000 SF single‑story office building; 18‑foot clear heights; 0.64‑acre site
