Office

5151 Exploration Drive

5151 exploration drive, indianapolis, IN 46241

Price

Price on request

Market rate estimate — not broker-provided

Cost-of-Business Details

Very Low Confidence

Low

$28.05/SF

Mid

$33.00/SF

High

$37.95/SF

Tier Used

peer_city_transfer

Transferred from peer market tampa (similarity: 100%) with 15 comparable listings.

Peer market: tampa (100% similarity)

Tier Resolution Trace

Tier 1insufficient_data

Tier 2insufficient_data

Tier 3insufficient_data

Tier 4successselected

Cost Breakdown

Component	Value	Detail	Source
Base Rent	$33.00/SF	—	peer_city_transfer
Utilities	—	5.1¢/kWh	OpenEI URDB
Property Tax	—	0.0% eff. rate	API Ninjas
Labor Index	—	$1450/wk	BLS QCEW

Source Provenance (1)

Source	Type	Count	Year	Freshness	Peer
Peer City Transfer	economic_similarity	15	—	real-time	tampa (100%)

Data sources used

peer_city_transfer

Description

•Office/Flex Building for Sublease
•4,802 SF open training/flex space with one drive-in door
•40,144 SF Office/Training Facility
•Sublease expires February 28, 2031
•Building can be modified to accommodate additional warehouse
•Interstate building signage
•Building Size: 40,144 SF (160’ x 260’)
•Large open work area and open area/training area
•Multiple Classrooms: up to 424 seats
•Multiple Private Offices: up to 24+
•Large open lobby/reception area
•Locker room/changing room
•Large cafeteria: up to 96 seats
•Drive-In door: 1 (12’ x 14’)
•Ceiling Height: 18’ Clear
•Parking: 194 spaces
•Year Built: 2015
•Large open lobby and reception area with modern finishes
•All fixtures and furniture included in the sublease terms

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

5151 exploration drive, indianapolis, IN 46241

Leaflet © OpenStreetMap contributors

Market Context

As of Q1 2026, the Indianapolis office market showed average asking rents near $20.98/SF/yr. Source: multiple brokerages Q1 2026 market report.

Projected current pricing

low confidence

Projected asking rent

$20.98/SF/yr

Estimated sale value

$112–$146/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 8.6%, asking rent held flat).

View the full Indianapolis Office market report →

Compare it against other office listings for sale in Indianapolis, IN to benchmark pricing and space — view the full market.

Unified Estimate

Very Low Confidence

$21.62/SF-$29.24/SF

Mid: $25.43/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market tampa (similarity: 100%) with 15 comparable listings.