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    5251 East St Indianapolis, IN 46227

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    For Lease
    Contact for pricing

    Modern office space, flexible sizes, great location.

    Lot size:
    57,964 SF

    Property Features for 5251 East St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    57,964 SF
    Total Rate
    100084.51

    Building Details

    Year Built
    1987
    Buildings
    2
    Stories
    2

    Spaces For Lease

    at 5251 East St, Indianapolis, IN 46227 Contact us
    Unit Suite 201

    $22 /Mo

    Size
    813 SF
    Contact us
    Unit Suite 20

    $24 /Mo

    Size
    526 SF
    Contact us
    Unit Suite 211

    $20 /Mo

    Size
    1,500 SF
    Contact us
    Unit Suite 205 D

    $30 /Mo

    Size
    244 SF
    Contact us
    Unit Suite 208

    $22 /Mo

    Size
    857 SF
    Contact us
    Unit Suite 209

    $22 /Mo

    Size
    693 SF
    Contact us
    Unit Suite 202

    $21 /Mo

    Size
    1,181 SF
    Contact us
    Unit Suite 18

    $26 /Mo

    Size
    635 SF
    Contact us
    Unit Suite 118

    $303 /Mo

    Size
    427 SF
    Contact us
    Unit Suite 203

    $320 /Mo

    Size
    561 SF
    Contact us
    Unit Suite 15

    $289 /Mo

    Size
    547 SF
    Contact us
    Unit Suite 116

    $263 /Mo

    Size
    848 SF
    Contact us
    Unit Suite 13

    $295 /Mo

    Size
    561 SF
    Contact us
    Unit Suite 117

    $263 /Mo

    Size
    821 SF
    Contact us
    Unit Suite 107

    $21 /Mo

    Size
    1,072 SF
    Contact us
    Unit Suite 105

    $24 /Mo

    Size
    920 SF
    Contact us
    Unit Suite 120

    $25 /Mo

    Size
    681 SF
    Contact us
    Unit Suite 215/217

    $20 /Mo

    Size
    1,074 SF
    Contact us
    Unit Suite 106

    $24 /Mo

    Size
    920 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Teresa Harwood
    Teresa Harwood

    Listing Agency: KW Commercial IMS Listing Agent: Teresa Harwood

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Zzone 31 offers exceptional executive office space in Indianapolis, Indiana, at 5251 S East St, 46227, conveniently located near US 31 and East Street. This two-building complex, constructed in 1987, boasts a total of 57,964 square feet and features two stories with elevator access. The property is zoned C3 and currently offers multiple tenancy options, with spaces ranging from a minimum of 290 square feet to a maximum contiguous space of 2,740 square feet
    Property Profile Location Intelligence

    Current Use by Public Records

    Breaking Walls Counseling Physician ExtraDent Tech Support Center LittleStinkers-Pet Waste Removal Landscaping Robin Campbell Builders Construction Company Executive home care ... Home Health Care Service

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.14846672
    Latitude
    39.68975933

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      Office Space in Franklin Township

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      Multi-Tenant Flex Space Available

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      View Details

    FAQs

    What type of property is this?
    Office property - Modern office space, flexible sizes, great location.
    Where is this office property located?
    The property is located at 5251 East St Indianapolis, IN.
    What is the lease rate?
    The lease rate is $20-$320 SF/Yr.
    What are key features of this property?
    This property features: Exceptional executive office space in Indianapolis, IN.; Two-story, 57,964 SF building complex near US 31 and East Street.; Built in 1987 with elevator access.
    (317) 882-5900 Call to check price and availability
    Request Owner's contact information
    5251 East St Indianapolis, IN 46227
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    Indianapolis, IN 46227
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5251 East St Indianapolis, IN 46227
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Teresa Harwood
    Teresa Harwood
    Real Estate License ID: RB14039040
    (317) 882-5900 (317) 883-7010 (317) 455-8111
    Learn more
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