Office for Sale in Indianapolis, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Indianapolis, IN 46241
  • Year built: 1985

Description

This offering presents the opportunity to acquire Directors Row Business Center, an eight-building office and flex-industrial campus totaling 214,200 square feet at the entrance to Park Fletcher — one of Indianapolis's most recognized business parks. The campus is 91 percent occupied with a diverse mix of national, regional, and local tenants across 39 suites. Directors Row offers a compelling value-add profile through the conversion of gross leases to triple-net leases, below-market rents with embedded upside, and vacancy lease-up potential. Since 2021, ownership has invested $2.3 million into the assets through tenant-specific renovations, roof replacements, and HVAC improvements — providing a well-maintained and operationally sound foundation for the next owner. The property features six flex industrial buildings and two office buildings, each with a timeless brick façade and flexible suite configurations ranging from small professional offices to large flex-industrial bays. With 40 drive-in doors spread across all eight buildings, the campus is exceptionally functional for a wide range of users. Directors Row is positioned directly across from Indianapolis International Airport with immediate access to the I-70 / I-465 interchange — making it highly attractive to logistics, e-commerce, and next/same-day delivery operators. PROPERTY HIGHLIGHTS - 214,200-square-foot gross leasable area across six flex industrial buildings and two office buildings, zoned for office and flex industrial use - Clear heights ranging from 12 to 20 feet with side-loading dock opportunities, roll-up doors, ramp doors, and garage spaces - Private mezzanine office space, engaging entrance/showroom configurations, and move-in ready suites available throughout the campus - Established tenant roster including Nextech, Evens Time Inc., FE Moran, Motorola, and ATI Physcial Therapy - Ideal for professional offices, research, development, data centers, laboratories, third-party logistics, and high

Market Context

This office in Indianapolis, IN is listed for sale. It is offered at an approximate 8.0% capitalization rate, a key benchmark for income-producing office assets. The building dates to 1985. It has been on the market for 46 days. Compare it against other office listings for sale in Indianapolis, IN — <a href="/search/sale/office/indiana/indianapolis">view the full market</a>.

As of Q1 2026, the Indianapolis office market showed average asking rents near $20.98/SF/yr, and cap rates around 8.6%. Source: Consensus Q1 2026 market report.

Its 8.0% asking cap rate is below the Indianapolis office market average of about 8.6%, reflecting premium pricing relative to comparable assets.

Office market FAQ

What is the typical cap rate for office in Indianapolis?
About 8.6% as of Q1 2026, per Consensus.

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.

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