Multi-Tenant Office
For Sale
Contact for pricing
7353-7373 E 21st St, Indianapolis, IN 46219
Remodeled professional office property with convenient access to major east Indianapolis routes.
Property Size12,140 SF
Price / SF$187.07
Days on Market1065
Property Features for 7353-7373 E 21st St
General Information
Standard status
Active
Size
12,140 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
CornerStone Companies Inc
(317) 841-9900
Listed By:
Charles Yeo · License #RB14040478
(317) 288-9006
Source:
Moodyscre
Added: Nov 16, 2023
Changed: Oct 6
Last Checked: Oct 16 at 6:42AM
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 CornerStone Companies Inc
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Investment Insights
Based on property information with market context.
This multi-tenant professional office building contains 12,140 square feet and has undergone substantial updates. The roof was replaced in 2018, followed by interior remodeling completed during 2019-2020, providing a refreshed setting for office occupancy.
The property is positioned on Indianapolis’s east side at 7353-7373 E 21st St. Access is available to I-70, I-465, and North Shadeland Ave., while the building benefits from exposure along E. 21st Street. The configuration supports multiple professional office occupants within a single commercial property.
The property is positioned on Indianapolis’s east side at 7353-7373 E 21st St. Access is available to I-70, I-465, and North Shadeland Ave., while the building benefits from exposure along E. 21st Street. The configuration supports multiple professional office occupants within a single commercial property.
Key Highlights
- 12,140‑square‑foot multi‑tenant professional office building
- New roof completed in 2018
- Interior remodeling completed in 2019‑2020
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,284
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,205,680
$3.2M
Cap Rate 7%
$2,289,771
$2.3M
Cap Rate 9%
$1,780,933
$1.8M
Market Conditions
NOI Build-Up for 12,140 SF
Gross rent
$262.2K $21.60/SF
− Vacancy
−$48.5K −$4.00/SF
EGI
$213.7K $17.60/SF
− OpEx
−$53.4K −$4.40/SF
NOI
$160.3K $13.20/SF
Area
Indianapolis, IN
Vacancy
18.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,205,680
Cap Rate 7%
$2,289,771
Cap Rate 9%
$1,780,933
Alternative Uses
Best Use
Office B
$2.29M
$2.00M – $2.67M
NOI $160,284 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.02M
$2.64M – $3.53M
NOI $211,527 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
474
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 Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office building - Remodeled professional office property with convenient access to major east Indianapolis routes.
Where is this office building located?
The property is located at 7353-7373 E 21st St Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,271,000.
What are key features of this property?
This property features: 12,140‑square‑foot multi‑tenant professional office building; New roof completed in 2018; Interior remodeling completed in 2019‑2020
