Renovated Office
For Sale
Contact for pricing
9114 Technology Ln, Fishers, IN 46038
Renovated in 2021 with modernized interiors, updated systems, flexible floor planning, and ample on-site parking.
Property Size14,232 SF
Price / SF$386.45
Days on Market174
Property Features for 9114 Technology Ln
General Information
Standard status
Active
Size
14,232 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Year Renovated
2021
Listing Agency:
Premier Commercial Real Estate Services, Inc.
(317) 454-7171
Listed By:
Matt Ferguson · License #RB17000936
(317) 679-4046
Source:
Moodyscre
Added: Mar 16
Changed: Aug 10
Last Checked: Jul 22 at 12:09AM
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 Premier Commercial Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This renovated office building was updated in 2021 and features a modernized interior with updated systems and finishes. The layout is designed with a flexible floor plan to support a range of office configurations. Ample on-site parking is available for employees and visitors.
The property is located minutes from I-69, placing it within an area described as having high demand.
For buyers seeking an office building with recent renovations and adaptable space, this asset offers a refreshed interior and practical parking convenience.
The property is located minutes from I-69, placing it within an area described as having high demand.
For buyers seeking an office building with recent renovations and adaptable space, this asset offers a refreshed interior and practical parking convenience.
Key Highlights
- Renovated in 2021 with modernized interior updates
- Updated systems and finishes, plus a flexible floor plan
- Ample on‑site parking
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
$182,686
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
3.32%
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%
$3,653,720
$3.7M
Cap Rate 7%
$2,609,800
$2.6M
Cap Rate 9%
$2,029,844
$2.0M
Market Conditions
NOI Build-Up for 14,232 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
$298.9K $21.00/SF
− Vacancy
−$55.3K −$3.89/SF
EGI
$243.6K $17.12/SF
− OpEx
−$60.9K −$4.28/SF
NOI
$182.7K $12.84/SF
Area
Fishers, IN
Vacancy
18.50%
Lease Rate
$21.00 /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%
$3,653,720
Cap Rate 7%
$2,609,800
Cap Rate 9%
$2,029,844
Alternative Uses
Best Use
Office B
$2.61M
$2.28M – $3.04M
NOI $182,686 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.50M
$3.07M – $4.09M
NOI $245,280 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 46038, IN
42,694
Population
17,738
Households
2.4
Avg Household Size
36
Median Age
60%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
2,754
Density / Sq Mi
$105,092
Median Household Income
$61,220
Median Earnings
$1,489
Median Rent
$301,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated in 2021 with modernized interiors, updated systems, flexible floor planning, and ample on-site parking.
Where is this office building located?
The property is located at 9114 Technology Ln Fishers, IN.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Renovated in 2021 with modernized interior updates; Updated systems and finishes, plus a flexible floor plan; Ample on‑site parking
