Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7353 21St St Indianapolis, IN 46219

    • Office Properties & Spaces
    For Sale
    View listing
    $2,375,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Home Care / Home Health Care Service

    Property Details for 7353 21St St

    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    The Warren Professional Center, a multi-tenant medical office building, presents a compelling investment opportunity at $2,375,000. Strategically located on the east side of Indianapolis at 7353 East 21st Street, this property boasts exceptional visibility and accessibility. Its prime location offers immediate access to major thoroughfares including I-70, I-465, and North Shadeland Avenue, ensuring convenient access for patients and staff. The building has undergone significant improvements, including a new roof installed in 2018 and a comprehensive interior remodel completed between 2019 and 2020. This ensures the property is well-maintained and ready for immediate occupancy. The building's design caters to the needs of medical professionals, making it an ideal investment for those seeking a stable and high-demand property in a thriving area of Indianapolis, within Marion County, Indiana, zip code 46219. The property's strong location and recent renovations combine to offer a promising return on investment. This is a rare opportunity to acquire a well-maintained, strategically located medical office building in a rapidly growing market. The property is situated at latitude 39.7959512 and longitude -86.0382052.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.0382
    Latitude
    39.796

    Comparable in this City

    • Value Estimation by Request
      3,306 SF

      1201 Post Rd

      Medical offices • 3,306 SF
      1201 Post Rd, Indianapolis, IN 46219
      View Details
    • Value Estimation by Request
      12,800 SF

      135 Shortridge Rd

      Medical offices • 12,800 SF
      135 Shortridge Rd, Indianapolis, IN 46219
      View Details
    • Value Estimation by Request
      12,725 SF

      1201 Post Rd Ste, Unit 4

      MEDICAL BUILDING • 12,725 SF
      1201 Post Rd Ste, Indianapolis, IN 46219-4225
      View Details
    • Value Estimation by Request
      22,872 SF

      1315 Arlington Ave

      MEDICAL BUILDING • 22,872 SF
      1315 Arlington Ave, Indianapolis, IN 46219-3204
      View Details
    • Value Estimation by Request
      6,000 SF

      1201 Arlington Ave

      MEDICAL BUILDING • 6,000 SF
      1201 Arlington Ave, Indianapolis, IN 46219-3202
      View Details
    • Value Estimation by Request
      5,166 SF

      115 Shortridge Rd

      MEDICAL BUILDING • 5,166 SF
      115 Shortridge Rd, Indianapolis, IN 46219-4916
      View Details

    Similar Nearby for Sale

    • $2,375,000

      Warren Professional Center: Medical Office Building

      Indianapolis Medical Office - Excellent Location
      7353 21St St, Indianapolis, IN 46219
      View Details
    • $2,900,000
      32,036 SF

      Prime Indy Executive Office Building

      32,036 SF Office, $2.9M Asking
      1213 Arlington Ave, Indianapolis, IN 46219
      View Details
    • New
      $260,000
      1,996 SF

      Freestanding Office Building on Shadeland

      Single-story office building on 0.30 acres in Indianapolis.
      1109 N Shadeland Ave, Indianapolis, IN 46219
      View Details
    • Contact for pricing
      12,140 SF

      Indianapolis East Side Office Building

      Multi-tenant office building with excellent exposure and recent renovations.
      7353-7373 E 21St St, Indianapolis, IN 46219
      View Details
    • Contact for pricing
      7,200 SF

      Single-Story Professional Office Building

      Single-story office building suitable for professional, medical, sales, service.
      1314 N Post Rd, Indianapolis, IN 46219
      View Details
    • Contact for pricing
      18,000 SF

      Adaptable Office Space for Sale

      Flexible office space with signage options and convenient location.
      Indianapolis, IN 46219
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr

      Post Road Medical Center

      Medical / Professional Office- 1,287 up to 3,306 SF | Fully Renovated | Divisible Suites | $16/SF
      1201 N Post Rd, Indianapolis, IN 46219
      View Details
    • Contact for pricing

      Office or Medical Building Opportunity

      Custom build-to-suit office or medical building with interior allowance.
      1310 N Post Rd, Indianapolis, IN 46219
      View Details
    • $13 SF/Yr
      35,802 SF

      Prime Indianapolis Office Space

      Executive Suites, Flexible Lease Options
      2855 Franklin Rd, Indianapolis, IN 46219
      View Details
    • $18 SF/Yr

      211 S. Ritter

      Modern Open Concept Private Office or Makers Space Available in Historic Irvington
      211 S Ritter Ave, Indianapolis, IN 46219
      View Details
    • $16 SF/Yr
      6,000 SF

      Office Space for Lease

      Office suites available in a convenient location.
      1398 Shadeland Ave, Indianapolis, IN 46219
      View Details
    • $4,500 /Mo
      8,000 SF

      Commercial Space with Drive-Through Garage

      All-inclusive commercial space with attached drive-through garage for lease.
      6771 E Washington St, Indianapolis, IN 46219
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7353 21St St
    Indianapolis, IN 46219
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.