150 Market StIndianapolis, IN 46204

Property Details for 150 Market St

Year built

1918

Construction

TYPE NOT SPECIFIED

Lot size

0.15 AC

Property size (Sq ft)

19,596 SF

Zone code

ZO01

Property type

Commercial real estate

APN

49-11-01-240-129.000-101

APU

491101240129000101

Description

This exceptional Class A office building, located at 150 W Market St in Indianapolis, Indiana, offers a prime opportunity for businesses seeking flexible and modern workspace. The 11-story building, totaling 117,000 square feet, boasts a multitude of options, with spaces ranging from a minimum of 294 square feet to a maximum contiguous space of 6,779 square feet. Currently, 23,597 square feet is available for lease. Built in 1957 and extensively renovated in 2021, the property features upgraded amenities including a new security desk, modernized elevator cabs, enhanced common area finishes, and a significantly improved HVAC system. The building also showcases new artwork and furniture, along with digital flat-screen directories. Situated directly across from the Indiana State Capitol building in the heart of the Central Business District (CBD), this location offers unparalleled visibility and accessibility. The property is zoned CBD1 and sits on a 117,000 square foot lot. Multiple tenancy options are available, making it ideal for a variety of business needs. Elevators are present to service all floors. This is a rare opportunity to secure high-quality office space in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,884,700

  6.5%

  $2,662,800

  7%

  $2,472,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,844,030

  Geo Method

  $1,844,030

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,637,700

  Retail / Commercial

  $2,813,610

  Mixed-Use / Specialty

  $2,742,600

  Hospitality / Lodging

  $1,932,770

  Office

  $2,662,800

  Institutional / Educational

  $2,829,410

  Residential Income

  $3,310,400

  Multifamily

  $4,308,360

  Automotive / Energy

  $2,425,210

  Parking / Income-Based Land

  $897,151

  Restaurant / Food Service

  $1,296,310

  Healthcare / Senior Housing

  $2,875,010

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7688

Longitude

-86.1549

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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