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    5151 Exploration Dr Indianapolis, IN 46241

    For Lease
    Contact for pricing

    Modern Office Building, 40,144 SF Available

    Lot size:
    40,144 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional 40,144-square-foot office building, constructed in 2015, presents a unique opportunity in Indianapolis, Indiana. Located at 5151 Exploration Drive, zip code 46241, in Marion County, this traditional office space boasts a prime location just south of the Indianapolis International Airport and northeast of the Ameriplex Parkway/I-70 interchange. The building benefits from high visibility with interstate building signage and enjoys a significant traffic count of 30,000 vehicles per day. Currently configured as a multi-tenant space, one space is immediately available for lease. The sublease agreement expires February 28, 2031, and includes all fixtures and furniture. The property features a large, modern open lobby and reception area. A significant portion of the building, 4,802 square feet, is dedicated to flexible training space, complete with a convenient drive-in door. The building's design allows for modification to accommodate additional warehouse space, offering adaptability to suit diverse business needs. Its strategic location along Ameriplex Parkway, on the western edge of Marion County bordering Hendricks County, provides easy access to major interstate systems, making it an ideal location for businesses seeking convenient transportation links.

    Property Features for 5151 Exploration Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    40,144 SF

    Building Details

    Year Built
    2015

    Unit(s) available at that property

    Space
    Office/Flex Building
    Size
    40,144 SF

    HighLights

    • 40,144 SF office building, built in 2015.
    • Prime location in Indianapolis, IN (46241), near Indianapolis International Airport and I‑70.
    • High visibility with 30,000+ VPD.
    • Immediately available space; sublease expires 2/28/2031, includes FF&E.
    • Features large lobby, 4,802 SF of flexible training space, drive‑in door (12' x 14'), 18' clear ceiling height, 194 parking spaces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Republic Airways Training ... Aviation Training Institute Republic Airways Corporate Office

    Suggested Use

    Building Supply Auto Repair Shop Accounting Firm Convenience Store Restaurant Wine and Liquor Store Arcade & Gaming Center Toy Store Wholesale Shop Car Rental

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.3140765
    Latitude
    39.6893316

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    FAQs

    What type of property is this?
    Office Property / Space - Modern Office Building, 40,144 SF Available
    Where is this office property / space located?
    The property is located at 5151 Exploration Dr Indianapolis, IN.
    What are key features of this property?
    This property features: 40,144 SF office building, built in 2015.; Prime location in Indianapolis, IN (46241), near Indianapolis International Airport and I-70.; High visibility with 30,000+ VPD.
    Request Owner's contact information
    5151 Exploration Dr Indianapolis, IN 46241
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    Realmo Value Estimation

    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.

    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.

    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
    5151 Exploration Dr Indianapolis, IN 46241
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