Office Building with
7601 Milhouse Road, Indianapolis, IN 46241
For Sale
$235,000
Commercial zoning accompanies an attached garage, a separate three-car garage, and an additional storage shed.
Property Size1,424 SF
Price / SF$165.03
Days on Market355
Property Features for 7601 Milhouse Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Property Use
Building Details
Building Size
Year Built
Stories
Listing Agency:
@properties
(317) 489-3441
Listed By:
Laura Booram
(317) 697-1557
Source:
Johnsonrealtysource
Added: Nov 20, 2025
Changed: Nov 7
Last Checked: Nov 8 at 1:59PM
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 @properties
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Investment Insights
Based on property information with market context.
Built in 1977, this 1,424-square-foot office property has served as a maintenance office. Its configuration includes an attached one-car garage, a detached three-car garage, and a separate storage shed. The property is zoned Commercial and is located at 7601 Milhouse Road in Indianapolis.
Key Highlights
- 1,424‑square‑foot office property built in 1977
- Previously used as a maintenance office
- Attached 1‑car garage and detached 3‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,801
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,020
$376.0K
Cap Rate 7%
$268,586
$268.6K
Cap Rate 9%
$208,900
$208.9K
Market Conditions
NOI Build-Up for 1,424 SF
Gross rent
$30.8K $21.60/SF
− Vacancy
−$5.7K −$4.00/SF
EGI
$25.1K $17.60/SF
− OpEx
−$6.3K −$4.40/SF
NOI
$18.8K $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%
$376,020
Cap Rate 7%
$268,586
Cap Rate 9%
$208,900
Alternative Uses
Best Use
Office B
$268.6K
$235.0K – $313.4K
NOI $18,801 @ 7.0% cap · market cap 8.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$354.5K
$310.2K – $413.5K
NOI $24,812 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
125
Businesses Nearby
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Business Placement
Demographics for 46241, IN
33,568
Population
12,414
Households
2.7
Avg Household Size
33
Median Age
15%
College-Educated
73%
High-School Grad
23.9 sq mi
ZIP Area
1,405
Density / Sq Mi
$51,598
Median Household Income
$33,477
Median Earnings
$1,118
Median Rent
$111,500
Median Home Value
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Market
Properties on Market for Office buildings in Indianapolis
Vacancy Rate% for Office in Indianapolis, IN
Frequently Asked Questions
What type of property is this?
Office building - Commercial zoning accompanies an attached garage, a separate three-car garage, and an additional storage shed.
Where is this office building located?
The property is located at 7601 Milhouse Road Indianapolis, IN.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,424‑square‑foot office property built in 1977; Previously used as a maintenance office; Attached 1‑car garage and detached 3‑car garage
