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    8802 Madison Ave Indianapolis, IN 46227

    Sponsored
    For Lease
    $14 SF/Yr ($13,433 /Mo)

    Modern Greenwood Office Space Available

    Lot size:
    11,514 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional office property at 8802 Madison Avenue in Marion County offers a variety of flexible spaces ideal for various business needs. The building, totaling 11,514 square feet, boasts a Class C designation and underwent a significant renovation in 2019, resulting in a refreshed façade, updated landscaping, and a new parking lot. The property is zoned C-3, allowing for diverse commercial uses. Currently, there are 6,953 square feet of vacant space available, divisible into units as small as 1,395 square feet and with a maximum contiguous space of 3,870 square feet. A particularly attractive option is a 1,688 square foot space, already built out for chiropractic or medical use, complete with plumbing in four offices and two restrooms. This prime location, just north of the Greenwood Park Mall on Madison Avenue, provides excellent visibility and convenient access to Greenwood and US-31 amenities. The expansive 61,703 square foot lot ensures ample parking and potential for future expansion. Built in 1988, this property offers a blend of established infrastructure and modern upgrades, making it an attractive option for businesses seeking a well-maintained and conveniently located office space in a thriving area. The building features new lighting and updated exterior finishes. Multiple tenancy options are available to accommodate various business sizes and requirements.

    Property Features for 8802 Madison Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,514 SF
    Class
    C
    Total Rate
    13433

    Building Details

    Year Built/Renovated
    1988/2019

    Unit(s) available at that property

    Space
    Suite C
    Size
    700 SF
    Rate per SF
    $14
    Space
    Suite D
    Size
    3,870 SF
    Rate per SF
    $14

    HighLights

    • 11,514 SF office building with 6,953 SF vacant, divisible to 1,395 SF minimum, up to 3,870 SF contiguous.
    • Multiple tenancy options available in a Class C building, built in 1988 and renovated in 2019.
    • Located in Marion County, zoned C‑3, with a 61,703 SF lot.
    • Features include a newly renovated facade, parking lot, landscaping, and updated exterior.
    • 1,688 SF of immediately available space with medical office buildout including plumbing.
    • Excellent Southside Indianapolis location near Greenwood Park Mall and US‑31.
    Property Profile Location Intelligence

    Current Use by Public Records

    CJI Insurance Agency ... Insurance Agency Dentist Dentist Oriental Foot Spa Massage Therapist Strausburg Michael D ... Dentist Galilee Asian Grocery Asian Grocery Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1188156
    Latitude
    39.638648

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    FAQs

    What type of property is this?
    Medical office - Modern Greenwood Office Space Available
    Where is this medical office located?
    The property is located at 8802 Madison Ave Indianapolis, IN.
    What is the lease rate?
    The lease rate is $14-$14 SF/Yr.
    What are key features of this property?
    This property features: 11,514 SF office building with 6,953 SF vacant, divisible to 1,395 SF minimum, up to 3,870 SF contiguous.; Multiple tenancy options available in a Class C building, built in 1988 and renovated in 2019.; Located in Marion County, zoned C-3, with a 61,703 SF lot.
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    Realmo Value Estimation

    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.

    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.

    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
    8802 Madison Ave Indianapolis, IN 46227
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