Multi-Suite Office
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For Sale
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755 W Carmel Dr, Carmel, IN 46032
The two-story layout includes a basement and a range of suite configurations.
Property Size48,060 SF
Lot Size2.99 Acres
Price / SF$216.40
Days on Market4
Property Features for 755 W Carmel Dr
General Information
Standard status
Active
Size
48,060 SF
Lot size
2.99 Acres
Property subtype
OFFICE
Zoning
M-3
Additional Details
Asking Price
$10,400,000
Office Units
24
Property Use
Office
Building Details
Year Built
1999
Buildings
1
Stories
2
Building Size
48,060 SF
Listing Agency:
Corporate Commercial Group
Listed By:
Keith Dedrick · License #IN RB14029789
(317) 502-3622
Source:
Moodyscre
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 3:26PM
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 Corporate Commercial Group
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Investment Insights
Based on property information with market context.
Built in 1999, this office building contains 24 suites across two stories, with a basement adding to its interior configuration. The property encompasses 48,060 square feet on 2.99 acres and is zoned M-3.
At 755 W Carmel Drive in Carmel, the property is in Hamilton County, Indiana.
At 755 W Carmel Drive in Carmel, the property is in Hamilton County, Indiana.
Key Highlights
- 48,060‑square‑foot office building on 2.99 acres
- 24 suites arranged across two stories, plus a basement
- Built in 1999
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$620,695
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,413,900
$12.4M
Cap Rate 7%
$8,867,071
$8.9M
Cap Rate 9%
$6,896,611
$6.9M
Market Conditions
NOI Build-Up for 48,060 SF
Gross rent
$1.01M $21.00/SF
− Vacancy
−$181.7K −$3.78/SF
EGI
$827.6K $17.22/SF
− OpEx
−$206.9K −$4.31/SF
NOI
$620.7K $12.92/SF
Area
Carmel, IN
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,413,900
Cap Rate 7%
$8,867,071
Cap Rate 9%
$6,896,611
Alternative Uses
Best Use
Office B
$8.87M
$7.76M – $10.34M
NOI $620,695 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.61M
$11.03M – $14.71M
NOI $882,382 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
24
Office units
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
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Business Placement
Demographics for 46032, IN
50,477
Population
22,118
Households
2.3
Avg Household Size
40
Median Age
75%
College-Educated
98%
High-School Grad
25.3 sq mi
ZIP Area
1,995
Density / Sq Mi
$123,438
Median Household Income
$70,558
Median Earnings
$1,522
Median Rent
$464,200
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The two-story layout includes a basement and a range of suite configurations.
Where is this office building located?
The property is located at 755 W Carmel Dr Carmel, IN.
What is the asking price?
The asking price for this property is $10,400,000.
What are key features of this property?
This property features: 48,060‑square‑foot office building on 2.99 acres; 24 suites arranged across two stories, plus a basement; Built in 1999
