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Property profile & analytics
OFF-MARKET Estimated value $3,345,000
Office Spaces

603 Washington St Indianapolis, IN 46204-2692

39,600 SF 2.45 ac lot Built 1917
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US31-3513576
Property summary
AI-generated overview

This exceptional 66,000 square foot, ten-story Class B office building, constructed in 1917, offers a unique opportunity in Indianapolis's vibrant Market East District. Currently housing five suites, with three spaces immediately available, this property boasts a minimum divisible space of 6,600 square feet, perfect for a variety of businesses. The building's traditional office layout is complemented by its suitability for coworking, medical, executive, and creative office uses. Located at 603 E Washington St, Indianapolis, IN 46204, this prime downtown location offers easy access to apartments, hotels, and new developments. The building features convenient amenities including a secured entrance with a main lobby, on-site staff and front desk, and an attached parking lot. The building is zoned CBD-2 and benefits from two elevators. This is a rare chance to secure space in a landmark building in a thriving downtown area. The building's historic character blends seamlessly with modern conveniences, creating an ideal environment for businesses seeking a prestigious and functional workspace.

Property profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1917
Construction CONCRETE
Total area 39,600 SF
Lot 2.45 ac (106,737 SF)
Zoning code ZO01
APN 49-11-12-219-009.000-101
UPID US31-3513576
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • The Indiana Mentoring Partnership Child Welfare Organization Charitable Organization
  • Sweet Real Estate Real Estate Agency
  • DISA Global Solutions, Inc. - Indianapolis Drug Testing Service Occupational Health Service
  • Adult & Child Center Foster Care Foster Care Service Social Service Agency
  • Dr. Charles W. Coats, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.26M
Blend (final) Blend
$3.35M
Owner & transaction history
Sweet Real Estate LLC · 3 yrs held
Sweet Real Estate LLC
since 2022
5 recorded transactions
2022
Price N/A
2021
Price N/A
2016
Price N/A
2005
Price N/A
1969
Price N/A
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $3.2M +6.3%
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