Single-Story Office
For Sale
Contact for pricing
8415 E 56th St, Indianapolis, IN 46216
Single-story office building on a paved, on-site parking lot with private offices, conference rooms, open workspaces, and support areas.
Property Size15,271 SF
Price / SF$179.75
Days on Market432
Property Features for 8415 E 56th St
General Information
Standard status
Active
Size
15,271 SF
Property subtype
OFFICE
Listing Agency:
Lee & Associates | Indianapolis
(317) 844-2700
Listed By:
Spero G. Pulos · License #INST200755
(317) 218-1033
Source:
Moodyscre
Added: Jul 9, 2025
Changed: Sep 5
Last Checked: Sep 13 at 6:45AM
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 Lee & Associates | Indianapolis
Investment Insights
Based on property information with market context.
8415 E 56th Street is a single-story, 15,271-square-foot office building built in 2000 on a 2-acre parcel. The space is fully built out with a mix of private offices, conference rooms, open workspaces, and support areas including a break room and restrooms.
The site includes paved, on-site parking and well-maintained landscaping. The property is located in the Fort Benjamin Harrison area of Indianapolis.
This offering provides a complete office configuration designed for day-to-day workplace use, with multiple room types and shared support facilities already in place.
The site includes paved, on-site parking and well-maintained landscaping. The property is located in the Fort Benjamin Harrison area of Indianapolis.
This offering provides a complete office configuration designed for day-to-day workplace use, with multiple room types and shared support facilities already in place.
Key Highlights
- Single‑story 15,271 SF office building on a 2‑acre parcel in the Fort Benjamin Harrison area of Indianapolis
- Built in 2000 with a fully built‑out layout including private offices, conference rooms, open workspaces, and support areas
- Includes a break room and restrooms, plus other support areas for day‑to‑day operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$201,623
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,032,460
$4.0M
Cap Rate 7%
$2,880,329
$2.9M
Cap Rate 9%
$2,240,256
$2.2M
Market Conditions
NOI Build-Up for 15,271 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$329.9K $21.60/SF
− Vacancy
−$61.0K −$4.00/SF
EGI
$268.8K $17.60/SF
− OpEx
−$67.2K −$4.40/SF
NOI
$201.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,032,460
Cap Rate 7%
$2,880,329
Cap Rate 9%
$2,240,256
Alternative Uses
Best Use
Office B
$2.88M
$2.52M – $3.36M
NOI $201,623 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.33M – $4.43M
NOI $266,082 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 46216, IN
2,343
Population
1,509
Households
1.6
Avg Household Size
47
Median Age
52%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
756
Density / Sq Mi
$56,838
Median Household Income
$44,399
Median Earnings
$1,282
Median Rent
$253,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Office building - Single-story office building on a paved, on-site parking lot with private offices, conference rooms, open workspaces, and support areas.
Where is this office building located?
The property is located at 8415 E 56th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,745,000.
What are key features of this property?
This property features: Single‑story 15,271 SF office building on a 2‑acre parcel in the Fort Benjamin Harrison area of Indianapolis; Built in 2000 with a fully built‑out layout including private offices, conference rooms, open workspaces, and support areas; Includes a break room and restrooms, plus other support areas for day‑to‑day operations
