5342 W Vermont St, Indianapolis, IN 46224

19,700 SF Office Investment Opportunity | Indianapolis, IN

This 19,700 SF Class B office property offers a compelling blend of stable income, future flexibility, and prime location—ideal for both investors and potential owner-users.

Situated on 1.958 acres with approximately 60 parking spaces, the property provides excellent accessibility with convenient access to I-465 and is located just minutes from Indianapolis International Airport.

Originally built in 1990 with subsequent additions and renovations, the building features a functional and versatile layout including multiple conference rooms, training areas, two kitchens, and flexible office/coworking spaces, making it well-suited for a variety of business uses.

Investment Highlights

• Price: $2,600,000
• NOI: $222,222
• Cap Rate: 8.55%
• Lease Type: Triple Net (NNN)
• Rent Growth: 2% annual increases
• Lease Term: In place through December 31, 2027
• Value-Add Potential: Tenant has indicated possible vacate or partial downsizing, creating opportunity for owner-user or multi-tenant conversion

Property Details

• Total Building Size: 19,700 SF
  • Main Floor: 16,650 SF
  • Basement: 3,050 SF
• Lot Size: 1.958 acres
• Parking: ~60 spaces
• Year Built: 1990 (with updates and additions)
• Recent Improvements: New roof and gutters (2017)
• Incentive: Seller offering $100,000 HVAC allowance