Hotel with On-Site
For Sale
$7,250,000
7304 E 21st St, Indianapolis, IN 46219
Established hospitality property with guest services, meeting space, fitness amenities, and on-site laundry.
Property Size82,166 SF
Days on Market109
Property Features for 7304 E 21st St
General Information
Standard status
Active
Size
82,166 SF
Property subtype
Commercial
Amenities
On-Site Laundry
On-Site Restaurant
Meeting Space
Fitness Center
Smoke Free Property
Valet Dry Cleaning
Daily Housekeeping
Same Day Dry Cleaning
Wake-Up Calls
Building Details
Building Size
82,166 SF
Year Built
1981
Units
118
Listing Agency:
Matthews
Listed By:
Luke Whittaker · License #02185614 (CA)
(317) 493-0055
Source:
Matthews
Added: Jun 28
Changed: Oct 3
Last Checked: Oct 12 at 4:38PM
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 Matthews
Investment Insights
Based on property information with market context.
This hotel property, built in 1981, includes an on-site restaurant, meeting space, fitness center, and laundry facilities. Guest services include daily housekeeping, wake-up calls, valet dry cleaning, and same-day dry cleaning. The property is smoke-free and located at 7304 E 21st St in Indianapolis, Indiana.
Key Highlights
- On‑site restaurant and meeting space
- Fitness center and laundry facilities
- Daily housekeeping and wake‑up calls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$386,386
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,727,720
$7.7M
Cap Rate 7%
$5,519,800
$5.5M
Cap Rate 9%
$4,293,178
$4.3M
Market Conditions
NOI Build-Up for 82,166 SF
Gross rent
$1.08M $13.20/SF
− Vacancy
−$271.1K −$3.30/SF
EGI
$813.4K $9.90/SF
− OpEx
−$427.1K −$5.20/SF
NOI
$386.4K $4.70/SF
Area
Indianapolis, IN
Vacancy
25.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,727,720
Cap Rate 7%
$5,519,800
Cap Rate 9%
$4,293,178
Alternative Uses
Best Use
Specialty Retail
$14.66M
$12.83M – $17.10M
NOI $1,026,048 @ 7.0% cap · market cap 14.15%
Second Best
Hotel Hospitality
$5.52M
$4.83M – $6.44M
NOI $386,386 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$20.45M
$17.90M – $23.86M
NOI $1,431,660 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Hotel - Established hospitality property with guest services, meeting space, fitness amenities, and on-site laundry.
Where is this hotel located?
The property is located at 7304 E 21st St Indianapolis, IN.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: On‑site restaurant and meeting space; Fitness center and laundry facilities; Daily housekeeping and wake‑up calls
