Market Street Office
539 E Market St, Indianapolis, IN 46204
Office building near Mass Ave with expansion potential.
Type:Office
Property size:
3,162 SFPrice / SF:
$156/SF- Added:
- May 20, 2024
- Days on Market:
- 742
- Last Refresh:
- May 12 at 9:31 pm
Property Features for 539 E Market St
General Information
- Standard status
- Active
- Size
- 3,162 SF
- Property subtype
- Office
Building Details
- Year Built
- 1900
Listing agent MIke Semler License #IN
Listing office Semler Commercial Real Estate Services, Inc.
Listing date May 20, 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 Semler Commercial Real Estate Services, Inc.
HighLights
- Prime location on the southwest corner of Market Street and Park Ave.
- Includes three parcels of land along Market Street (1075618, 1068627, and 1074978).
- Walking distance to Whole Foods and Mass Ave amenities.
- Building renovated in 2010.
- Currently offers 8 parking spaces.
- Parking is expandable.
Overview
Located on the southwest corner of Market Street and Park Ave, this property was originally built in 1900 and renovated in 2010. The location provides convenient access to Whole Foods and the various amenities on Mass Ave. The sale includes three parcels of land along Market Street: 1075618, 1068627, and 1074978. The property currently includes 8 parking spaces, with the potential for expansion. The building size is 3162 square feet.
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 | $68.3k | $21.60 |
| − Vacancy | −$12.6k | −$4.00 |
| EGI | $55.7k | $17.60 |
| − OpEx | −$13.9k | −$4.40 |
| NOI | $41.7k | $13.20 |
3,162 SF · lease $21.60/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$596.4K
$521.9K – $695.8K
NOI $41,748 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$787.1K
$688.7K – $918.3K
NOI $55,095 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.166309
- Latitude
- 39.777573
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Office building near Mass Ave with expansion potential.
Where is this office building located?
The property is located at 539 E Market St Indianapolis, IN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime location on the southwest corner of Market Street and Park Ave.; Includes three parcels of land along Market Street (1075618, 1068627, and 1074978).; Walking distance to Whole Foods and Mass Ave amenities.
