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    101 Washington St Indianapolis, IN 46204

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    For Lease
    Contact for pricing

    Prime Downtown Indy Office Space Available

    Lot size:
    636,550 SF

    Property Features for 101 Washington St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    636,550 SF
    Class
    A
    Total Rate
    901779.17

    Building Details

    Year Built/Renovated
    1977/1985
    Stories
    16

    Spaces For Lease

    at 101 Washington St, Indianapolis, IN 46204 Contact us
    Unit Suite 1110E

    $17 /Mo

    Size
    4,513 SF
    Contact us

    We can help!

    Listing Contact
    Joel Miller
    Joel Miller

    Listing Agency: Avison Young Indianapolis Listing Agent: Joel Miller

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional sublease opportunity presents 4,513 square feet of newly renovated Class A office space within the prestigious PNC Center in Indianapolis' Central Business District (CBD). Located in Marion County, this 16-story building boasts a prime location with convenient year-round covered access to Circle Center Mall, Lucas Oil Stadium, the Convention Center, and a wealth of hotels and restaurants. Built in 1977 and renovated in 1985, the building offers a sophisticated and functional workspace. The space is immediately available and is demisable to accommodate various business needs. The PNC Center provides a comprehensive array of on-site amenities designed to enhance tenant experience and productivity. These include six diverse dining options, a modern NEXUS tenant lounge perfect for collaboration, fully equipped conference facilities for meetings and presentations, a state-of-the-art fitness center for employee wellness, convenient Amazon pickup/drop-off lockers, and a sundry shop for everyday needs. The total building size is 636,550 square feet, with a maximum contiguous space of 4,513 square feet currently available for sublease. This is an unparalleled opportunity to secure a highly desirable office space in the heart of Indianapolis' vibrant downtown core. The building's traditional office design offers a classic and professional atmosphere.
    Property Profile Location Intelligence

    Current Use by Public Records

    PNC Private Bank Financial Advisor Indiana Manufacturers Association Association / Organization Amazon Locker - Stride Postal Service Marketing Service & Solutions Advertising Agency PNC Investments LLC Financial Advisor

    Suggested Use

    Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Restaurant Building Supply Daycare Center Kitchen & Bath Showroom Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1543633
    Latitude
    39.7713348

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Downtown Indy Office Space Available
    Where is this office property / space located?
    The property is located at 101 Washington St Indianapolis, IN.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Class A, 16-story office building totaling 636,550 square feet.; Sublease opportunity of 4,513 square feet of newly renovated space, demisable.; Located in the Indianapolis CBD, near Circle Center Mall, Lucas Oil Stadium, and the Convention Center.
    (317) 210-8803 Call to check price and availability
    Request Owner's contact information
    101 Washington St Indianapolis, IN 46204
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    101 Washington St Indianapolis, IN 46204
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    Contact for Pricing
    Please call us for current price
    and status of this listing Joel Miller
    Joel Miller
    Real Estate License ID: RB17000848
    (317) 210-8803 (317) 750-5757 (317) 210-8808
    Learn more
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