Renovated Office Flex
For Sale
$2,475,000
9130 Otis Avenue, Indianapolis, IN 46216
SINGLE_FAMILY - Indianapolis, IN
Property Size25,000 SF
Lot Size1.14 Acres
Price / SF$99
Days on Market168
Property Features for 9130 Otis Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
DP
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Subdivision
4904 - Marion - Lawrence
Standard status
Active
APN
490805105007000407
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Pt Sw1/4 S5 T16n R5e Comm Sw Cor Sw1/4 N497.79 E428.96 N37.73 To P.O.B. E3.42 Se14.47 E114.32 N85.08' E76.38' N65.66' E8.24'N131.18'' W210.65'' S268.76'' To Beg 1.143 Ac.
Legal Description
Pt Sw1/4 S5 T16n R5e Comm Sw Cor Sw1/4 N497.79 E428.96 N37.73 To P.O.B. E3.42 Se14.47 E114.32 N85.08' E76.38' N65.66' E8.24'N131.18'' W210.65'' S268.76'' To Beg 1.143 Ac.
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1908
Floors in Building
2
Roof type
Shingle
Listing Agency:
Keller Williams Indy Metro NE · Keller Williams Realty
(317) 564-7100
Listed By:
Robert Sorrell · License #RB14042253
(317) 564-7100
Added: Feb 18
Changed: Jun 16
Last Checked: Aug 5 at 2:06AM
MLS# 22084091
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
9130 Otis Avenue is a multi-tenant office/flex space totaling approximately 25,000 SF, situated on more than one acre and supported by common parking. The property is currently about 23% tenant-occupied, with five suites being marketed for lease, totaling approximately 13,848 SF of non-common area. Those suites can be combined for larger requirements or leased individually based on tenant needs. The complex has been renovated and has previously served the community in different capacities, including as a horse stable and army barracks.
The property is located in Lawrence Village at Fort Harrison and provides convenient access to major interstate routes. It is approximately 2 miles from I-465 and offers easy access to I-69, I-74, I-70, and I-65. The surrounding developed community includes dining options within safe walking distance, and Fort Harrison State Park is less than a mile away.
For tenants or buyers seeking flexible space configurations, the ability to lease multiple office/flex suites together or separately supports a range of operating needs. The combination of professionally managed, renovated space and on-site common parking is intended to accommodate day-to-day use across different types of businesses.
The property is located in Lawrence Village at Fort Harrison and provides convenient access to major interstate routes. It is approximately 2 miles from I-465 and offers easy access to I-69, I-74, I-70, and I-65. The surrounding developed community includes dining options within safe walking distance, and Fort Harrison State Park is less than a mile away.
For tenants or buyers seeking flexible space configurations, the ability to lease multiple office/flex suites together or separately supports a range of operating needs. The combination of professionally managed, renovated space and on-site common parking is intended to accommodate day-to-day use across different types of businesses.
Key Highlights
- Multi‑tenant office/flex space with income potential.
- Excellent location in Lawrence Village at Fort Harrison, close to I‑465 and other major interstates.
- Significant leasable space available: roughly 13,848 SF across five suites, offering flexible configurations.
Financial Insights For Industrial
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 | $195.0k | $7.80 |
| − Vacancy | −$17.0k | −$0.68 |
| EGI | $178.0k | $7.12 |
| − OpEx | −$53.4k | −$2.14 |
| NOI | $124.6k | $4.98 |
25,000 SF · lease $7.80/SF/yr · vacancy 8.70% · expense 30.00%
Alternative Uses
Best Use
Office B
$4.72M
$4.13M – $5.50M
NOI $330,075 @ 7.0% cap · market cap 13.34%
Second Best
Flex RnD
$3.51M
$3.07M – $4.10M
NOI $245,700 @ 7.0% cap · market cap 9.93%
Theoretical Best
Office A
$6.22M
$5.45M – $7.26M
NOI $435,600 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-tenant office and flex space with common parking and five leasable suites offering flexible occupancy options.
Where is this flex space located?
The property is located at 9130 Otis Avenue 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: Multi‑tenant office/flex space with income potential.; Excellent location in Lawrence Village at Fort Harrison, close to I‑465 and other major interstates.; Significant leasable space available: roughly 13,848 SF across five suites, offering flexible configurations.
