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    8909 Purdue Rd Indianapolis, IN 46268

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    Property profile & analytics

    8909 Purdue Rd Indianapolis, IN 46268

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    • Office properties & Spaces
    • 179,586 SF
    • 10.23 lot acres
    For Lease
    $14,710,000
    View Listing →
    Class A Office Building For Lease
    $14,710,000

    Class A Office Building

    Class A office building with fitness center and conference room.

    8909 Purdue Rd, Indianapolis, IN 46268
    View Listing
    Property ID
    US31-3529469
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Construction Family Assistance Foundation, Inc. / Association / Organization
    • Shuttle America Corporation / Freight Service / Logistics Company
    • Build Your Future Indiana. / Construction Company
    • Medical Decision Modeling Inc / Medical Clinic
    • Usda National Appeals TDD / Government

    Property Details for 8909 Purdue Rd

    Year built
    1997
    Construction
    TYPE NOT SPECIFIED
    Lot size
    10.23 lot acres
    Property size
    179,586 SF
    Zone code
    ZO01
    Property type
    Office properties & Spaces
    APN
    49-03-17-102-034.000-600
    APU
    490317102034000600

    Description

    College Park Plaza, located at 8909 Purdue Rd in Indianapolis, Indiana, presents a unique opportunity for businesses seeking premium office space in the northwest submarket. This Class A building, constructed in 1998, boasts a total of 181,000 square feet, with 31,000 square feet currently available for lease. The property sits on a generous 10-acre lot and offers flexible tenancy options, accommodating businesses of various sizes. Currently, there are four available spaces ranging from 2,286 to 25,704 square feet. The building features attractive 10'9" ceilings and ample parking with 720 spaces available. Tenants enjoy a range of on-site amenities, including a state-of-the-art fitness center complete with showers, a convenient conference/training room, and expansive outdoor patio areas perfect for relaxation or informal meetings. The property is zoned C4 and provides a highly desirable location within the northwest submarket of Indianapolis. This is an exceptional opportunity to secure high-quality office space in a well-maintained and amenity-rich building. Contact us today to learn more about available suites and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,912,000
      Market price range: $5.35M - $21.5M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $13,455,000
      Current use
      AUTO REPAIR, GARAGE
      $14,300,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $13,420,000
      Change: -0% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $11,215,000
      Change: -17% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.22
    Latitude
    39.917
    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
    $397,424
    $2,390,100
    $14,647,000
    $17,037,100
    -
    $2,390,100
    $14,647,000
    $17,037,100

    Comparable in this City

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    • Value Estimation
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      50,336 SF

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      OFFICE (GENERAL) • 50,336 SF
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      View Details

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      Office Property For Sale

      Office property available for purchase in Indianapolis, Indiana.
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      7,200 SF

      Northwest Indianapolis Office Building

      Well-located office property in a high-demand commercial area.
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    • $329,500
      Pending

      Stand-Alone Retail/Office Building For Sale

      Well-maintained commercial building with flexible layout and high visibility.
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      10,790 SF

      Well-Maintained Office Space Available

      10,790 SF office building in College Park area.
      3334 Founders Rd, Indianapolis, IN 46268
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    • $329,500
      1,804 SF

      Free-Standing Brick Office/Retail Building

      High-visibility commercial building with flexible layout and expansion potential.
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      Indianapolis Office Building For Sale

      Prime location with I-465 visibility and recent building updates.
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    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Lease

      Office spaces available for lease in Indianapolis.
      5273-5307 Lakeview Pkwy Dr S, Indianapolis, IN 46268
      View Details
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      Commercial Space For Lease

      Commercial space available for lease in Indianapolis, Indiana.
      7108-7176 Waldemar Dr, Indianapolis, IN 46268
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      Park 100 Flex Space Available

      Flex spaces with office and drive-in doors in Park 100.
      8102-8176 Zionsville Rd, Indianapolis, IN 46268
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      20,000 SF

      Mixed-Use Development in Keystone Submarket

      Office and retail spaces in a high-traffic, amenity-rich location.
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    • Contact for pricing
      13,649 SF

      Remodeled Office Space Available

      Four buildings with tenant fitness and conference centers.
      9100 Purdue Rd, Indianapolis, IN 46268
      View Details
    • Contact for pricing
      3,810 SF

      Class A Office Building

      Class A office building with fitness center and heavy parking.
      8910 Purdue Rd, Indianapolis, IN 46268
      View Details
    View Listing
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    8909 Purdue Rd
    Indianapolis, IN 46268
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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.

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    8909 Purdue Rd, Indianapolis, IN, 46268

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