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    Property profile & analytics

    6340 Gateway Dr Indianapolis, IN 46254

    • Office Properties & Spaces
    • 20,392 SF
    • 1.97 lot acres
    For Sale
    View listing
    $1,450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0993227
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Talecris Plasma Resources / Blood Donation Center
    • Grifols Academy-Plasmapheresis / Education Center
    • Humane Raccoon Removal Indianapolis / Pest Control Service / Animal Control Service

    Property Details for 6340 Gateway Dr

    Year built
    1994
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.97 lot acres
    Property size
    20,392 SF
    Zone code
    ZO01
    Property type
    Office Properties & Spaces
    APN
    49-05-14-130-017.000-601
    APU
    490514130017000601

    Description

    This exceptional 21,298 square foot Class B medical office building, constructed in 1994, presents a unique investment opportunity in Marion County, Indiana. Currently entirely vacant, the entire building is available for sale or lease, offering a blank canvas for a single tenant or the potential for multiple smaller tenants. Located at 6340 Gateway Drive in Indianapolis, this property boasts a prime location within Pike Township, providing unparalleled convenience and accessibility. The building's strategic positioning offers easy access to a variety of amenities, including diverse dining, lodging, and shopping options, catering to both employees and clients. Furthermore, its proximity to Highway 465 ensures exceptional visibility and streamlined access for patients and customers, maximizing the potential for business growth and success. The single-suite layout provides flexibility for customization to meet specific needs, making it an ideal space for a wide range of medical practices or office uses. This property represents a rare opportunity to acquire a substantial, well-located building in a thriving area. The building's size and location make it an attractive prospect for both established businesses seeking expansion and new ventures looking for a strong foundation. The potential for significant return on investment is undeniable, given the current market conditions and the property's inherent advantages. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $625,000
      Market price range: $330k - $1.01M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.272
    Latitude
    39.8291
    CBSA code
    26900
    CBSA name
    INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $40,210
    $259,200
    $1,215,900
    $1,475,100
    -
    $259,200
    $1,215,900
    $1,475,100

    Comparable in this City

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    • Value Estimation
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      0.40 Acres

      3891 Eagle Crk Pkwy

      OFFICE (GENERAL) • 0.40 Acres
      3891 Eagle Crk Pkwy, Indianapolis, IN 46254-5614
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    • Value Estimation
      $180,000
      8,028 SF

      5313 Georgetown Rd

      OFFICE (GENERAL) • 8,028 SF
      5313 Georgetown Rd, Indianapolis, IN 46254
      View Details
    • Value Estimation
      $345,000
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      5430 Lafayette Rd

      OFFICE (GENERAL) • 18,988 SF
      5430 Lafayette Rd, Indianapolis, IN 46254-1620
      View Details
    • Value Estimation
      $455,000
      21,943 SF

      5370 Lafayette Rd

      OFFICE (GENERAL) • 21,943 SF
      5370 Lafayette Rd, Indianapolis, IN 46254
      View Details
    • Value Estimation
      $195,000
      11,100 SF

      4420 56th St

      OFFICE (GENERAL) • 11,100 SF
      4420 56th St, Indianapolis, IN 46254-1504
      View Details

    Similar Nearby for Sale

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      8,200 SF

      Indianapolis Medical Office Building For Sale

      8,200 SF medical office building 100% leased through 2030.
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    • $1,450,000
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      Indianapolis Office/Medical Property For Sale

      Office and medical property for sale or lease in Indianapolis.
      6340 Gateway Dr, Indianapolis, IN 46254
      View Details
    • $774,000
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      Indianapolis Office Space For Sale

      Office property with 3750 square feet of space.
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    • $219,000
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      Updated Condo Near Eagle Creek

      Updated 2BD/1.5BA condo with backyard, near Eagle Creek Park.
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      0.74 Acres

      Lafayette Road Commercial Land Parcel

      0.74-acre commercial lot, prime Indianapolis location.
      4954 Lafayette Rd, Indianapolis, IN 46254
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    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Georgetown Road Retail Space

      920 SF Office/Retail Space Available
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      3,531 SF

      Medical Office Space Available

      Medical office space with highway visibility, available Q4 2025.
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    • $22 SF/Yr
      1,835 SF

      Renovated Office Space Available

      Recently renovated office space with ample parking and signage.
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      View Details
    • $20 SF/Yr
      6,823 SF

      Lafayette Road Office Space Available

      Modern Office, 3,435 SF Available
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      View Details
    • Contact for pricing
      1,946 SF

      Indianapolis Medical Office Space

      1,946 SF Medical Office Available
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      View Details
    • Contact for pricing
      3,632 SF

      Medical Office Space Available

      Medical office space for rent near I-465.
      6920 Parkdale Pl, Indianapolis, IN 46254
      View Details
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    6340 Gateway Dr
    Indianapolis, IN 46254
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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
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