Flex-Office Building Investment
5957 - 6035 Lakeside Blvd, Indianapolis, IN 46278
Call to check price and availability
Multi-tenant flex-office building on 14.82 acres, 60.1% leased.
Type:Office
Property size:
89,805 SFLot size:
14.82 AcresPrice / SF:
$150/SF- Added:
- Sep 25, 2024
- Days on Market:
- 614
- Last Refresh:
- May 12 at 10:49 pm
Property Features for 5957 - 6035 Lakeside Blvd
General Information
- Standard status
- Active
- Size
- 89,805 SF
- Lot size
- 14.82 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1986
Listing agent Geoff Ficke License #TX 0593051
Listing office Colliers - Dallas, Texas (972) 759-7854
Listing date Sep 25, 2024
Source Crexi
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 Colliers - Dallas, Texas
HighLights
- Investment‑grade tenanted asset with a GSA lease, providing stable returns guaranteed by the US Government (S&P AA+).
- Leased to the USDA Headquarters and administrative office for the state of Indiana, the mortgage lending arm of the USDA for Indiana.
- Leased to USGS with a unique mission focused on collecting and disseminating information on the nation's water resources.
- Multi‑tenant, single‑story flex‑office building consisting of 89,805 rentable square feet on 14.82 acres of land.
- Located in Indianapolis, the state capital and most populated city in Indiana, with a strong economic base including Fortune 500 companies.
- Property is 60.1% leased.
Overview
This multi-tenant, single-story flex-office building, developed in 1986, is located at 5957-6035 Lakeside Boulevard, Indianapolis, Indiana. The property is 60.1% leased and comprises 89,805 rentable square feet on a 14.82-acre site. The property is suitable for commercial real estate, flex space, industrial, and office use. The building is currently tenanted by the USDA and USGS. The USDA office serves as the Headquarters and administrative office for the state of Indiana and is in effect the mortgage lending arm of the USDA for Indiana. The USGS has the unique mission to collect and disseminate information on the nations water resources, including information on water related natural hazards, groundwater management and surface water resources, and protection of water resources for health and environmental quality. The GSA lease provides stable returns guaranteed by the US Government.
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 | $1.94M | $21.60 |
| − Vacancy | −$358.9k | −$4.00 |
| EGI | $1.58M | $17.60 |
| − OpEx | −$395.2k | −$4.40 |
| NOI | $1.19M | $13.20 |
89,805 SF · lease $21.60/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$16.94M
$14.82M – $19.76M
NOI $1,185,695 @ 7.0% cap · market cap 8.78%
Second Best
Flex RnD
$12.61M
$11.03M – $14.71M
NOI $882,604 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$22.35M
$19.56M – $26.08M
NOI $1,564,762 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
US Geological Survey
Sustainability Organization
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.2664675
- Latitude
- 39.8759422
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FAQs
What type of property is this?
Office building - Multi-tenant flex-office building on 14.82 acres, 60.1% leased.
Where is this office building located?
The property is located at 5957 - 6035 Lakeside Blvd Indianapolis, IN.
What is the asking price?
The asking price for this property is $13,510,000.
What are key features of this property?
This property features: Investment‑grade tenanted asset with a GSA lease, providing stable returns guaranteed by the US Government (S&P AA+).; Leased to the USDA Headquarters and administrative office for the state of Indiana, the mortgage lending arm of the USDA for Indiana.; Leased to USGS with a unique mission focused on collecting and disseminating information on the nation's water resources.
