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Lawrence Village Flex Space

9130 Otis Ave Indianapolis, IN 46216

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For Sale
$2,475,000

Multi-tenant industrial/office/flex space in Lawrence Village at Fort Harrison.

Property size:
16,840 SF
Lot size:
1.14 Acres
Price / SF:
$146/SF
Added:
Jan 26, 2026
Days on Market:
166
Last Refresh:
Jun 28 at 10:44 pm

Property Features for 9130 Otis Ave

General Information

Standard status
Active
Size
16,840 SF
Lot size
1.14 Acres

Listing office Keller Williams Indy Metro NE

Listing date Jan 26, 2026

Source Exprealty

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 Keller Williams Indy Metro NE


Investment Insights

Based on property information with market context.

Located in Lawrence Village at Fort Harrison, 9130 Otis Avenue offers approximately 16,840 square feet of multi-tenant industrial, office, and flex space. The property is situated just 2 miles from I-465, providing convenient access to I-69, I-74, I-70, and I-65. A total of approximately 13,848 square feet of available space can be utilized by a single tenant or leased to multiple tenants, depending on their needs. This renovated multi-use complex sits on over an acre of developed land with ample common parking. The property has a history, having served as a horse stable and army barracks. The surrounding developed community offers a variety of dining choices within walking distance, and Fort Harrison State Park is less than a mile away. The property is suitable for a wide variety of clientele in need of well-maintained, quality office, industrial, or flex space. Suites range from $18/SF/YR to $20.00/SF/YR on a Gross Lease basis.

Key Highlights

  • Convenient location: 2 miles from I‑465 with easy access to I‑69, I‑74, I‑70, and I‑65.
  • ~13,848 SF of flexible space available for single or multiple tenants.
  • Professionally managed, well‑maintained office/industrial/flex space.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $363.7k $21.60
− Vacancy −$67.3k −$4.00
EGI $296.5k $17.60
− OpEx −$74.1k −$4.40
NOI $222.3k $13.20
16,840 SF · lease $21.60/SF/yr · vacancy 18.50% · expense 25.00%

Alternative Uses

Best Use
Office B
$3.18M
$2.78M – $3.71M (±1% cap)
NOI $222,339 @ 7.0% cap · market cap 8.98%
Second Best
Flex RnD
$2.36M
$2.07M – $2.76M (±1% cap)
NOI $165,504 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M (±1% cap)
NOI $293,420 @ 7.0% cap · market cap 11.86%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Embroidery! Sew Into ... Marketing & Advertising Cole Fitness Gym & Fitness Center Level365 Telecommunications Service Megan Skelding Physician PhaseForward Crisis Center

Suggested Use

Real Estate Agency Building Supply Big Box & Wholesale Store Parking Lot & Garage Auto Parts Store HVAC Service Furniture & Home Goods Pharmacy Kitchen & Bath Showroom Garden Center

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

Similar Off Market Nearby

  • Shiffon's Trayz Galore & More — 9531 Devers Pl, Indianapolis, IN 46216
  • MOO & LOU FROZEN TREATS — 5645 N Post Rd Ste. B, Indianapolis, IN 46216

FAQs

What type of property is this?
Flex space - Multi-tenant industrial/office/flex space in Lawrence Village at Fort Harrison.
Where is this flex space located?
The property is located at 9130 Otis Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: Convenient location: 2 miles from I‑465 with easy access to I‑69, I‑74, I‑70, and I‑65.; ~13,848 SF of flexible space available for single or multiple tenants.; Professionally managed, well‑maintained office/industrial/flex space.
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