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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8415 E 56Th St, Unit | Indianapolis Indianapolis, IN 46216

    • Office buildings
    • 15 SF
    For Sale
    View listing
    $2,745,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US31-0748912
    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

    • USI Consultants, Inc. / Civil Engineer / Land Surveyor

    Property Details for 8415 E 56Th St

    Year built
    2000
    Property size
    15 SF
    Property type
    Office buildings

    Description

    8415 E 56th Street is a single-story, 15,271-square-foot office building situated on a 2-acre parcel in the Fort Benjamin Harrison area of Indianapolis. Constructed in 2000, the property is fully built out with a mix of private offices, conference rooms, open workspaces, and support areas including a break room and restrooms. The site includes paved, on-site parking and features well-maintained landscaping. Offered at $2,745,000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.019519
    Latitude
    39.854466

    Comparable in this City

    • $1,100,000

      Historic Brick Building Near Park

      Two-story office building in historic Fort Benjamin Harrison.
      5835 Lawton Loop East Dr, Indianapolis, IN 46216
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    • $6,950,000
      62,162 SF

      Historical Barracks Building For Sale

      1939 barracks building with income-producing tenants, ready for occupancy.
      8901 Otis Ave, Indianapolis, IN 46216
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      62,162 SF

      Fort Harrison Office Building: Prime Indy Location

      62,162 SF Executive Office, Owner/User Opportunity
      8901 Otis Ave, Indianapolis, IN 46216
      View Details
    • New
      $2,475,000
      25,000 SF

      Multi-Tenant Office/Flex Space in Indianapolis

      25,000 SF multi-tenant office/flex space in Lawrence Village.
      9130 Otis Ave, Indianapolis, IN 46216
      View Details
    • Contact for pricing
      0.60 Acres

      Fort Harrison Commercial Land

      Prime location, high traffic, development potential.
      9140 Harrison Park Dr, Indianapolis, IN 46216
      View Details
    • Contact for pricing

      Land Parcels Near Federal Center

      Two land parcels for sale near the Major General Center.
      9140 Harrison Park Ln, Indianapolis, IN 46216
      View Details

    Similar Nearby for Sale

    • $1,100,000

      Historic Brick Building Near Park

      Two-story office building in historic Fort Benjamin Harrison.
      5835 Lawton Loop East Dr, Indianapolis, IN 46216
      View Details
    • $6,950,000
      62,162 SF

      Historical Barracks Building For Sale

      1939 barracks building with income-producing tenants, ready for occupancy.
      8901 Otis Ave, Indianapolis, IN 46216
      View Details
    • New
      $2,475,000
      25,000 SF

      Multi-Tenant Office/Flex Space in Indianapolis

      25,000 SF multi-tenant office/flex space in Lawrence Village.
      9130 Otis Ave, Indianapolis, IN 46216
      View Details
    • Contact for pricing
      62,162 SF

      Fort Harrison Office Building: Prime Indy Location

      62,162 SF Executive Office, Owner/User Opportunity
      8901 Otis Ave, Indianapolis, IN 46216
      View Details
    • Contact for pricing
      0.60 Acres

      Fort Harrison Commercial Land

      Prime location, high traffic, development potential.
      9140 Harrison Park Dr, Indianapolis, IN 46216
      View Details
    • Contact for pricing

      Land Parcels Near Federal Center

      Two land parcels for sale near the Major General Center.
      9140 Harrison Park Ln, Indianapolis, IN 46216
      View Details

    Similar Nearby for Lease

    • New
      $18 SF/Yr
      16,840 SF

      Multi-Tenant Flex Space Available

      Industrial/office/flex space in Lawrence Village near Fort Harrison.
      9130 Otis Ave, Indianapolis, IN 46216
      View Details
    • $17 SF/Yr
      5,600 SF

      Indianapolis Creative Office Suites

      Two 1,400 SF Suites Available Now
      5805-5811 Post Rd, Indianapolis, IN 46216
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    • Contact for pricing
      6,500 SF

      Historical Office Space Sublease

      Furnished office space with modern amenities in a historic building.
      9120 Otis Ave, Indianapolis, IN 46216
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    • $18 SF/Yr

      Lawrence Village Flex Space

      Multi-tenant industrial/office/flex space in Lawrence Village at Fort Harrison.
      9130 Otis Ave, Indianapolis, IN 46216
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    • $17 SF/Yr

      Restored Office Space For Rent

      Two-story office space with hardwood floors, easy access, and parking.
      5805-5811 North Post Rd, Indianapolis, IN 46216
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    • Contact for pricing
      19,096 SF

      Sublease Office with Fitness Room

      Office space with fitness room, walking trails, and parking.
      5724 Birtz Rd, Indianapolis, IN 46216
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    Indianapolis, IN 46216
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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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