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32749944
32749943

8 Locations

FB
IN AB21405968
Marcus & Millichap - Indianapolis
JD
IN RB14051407
Marcus & Millichap - Indianapolis
GP
RB18000371
Marcus & Millichap - Indianapolis
Sam Curtis
ZR
RB21002086
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis, Sam Curtis
$18,320,475
22 days on market
Updated 22 days ago

Directors Row Business Park

Details
APN 49-12-24-102-001.000-900, 49-12-24-102-024.000-900
Property Type Office, Industrial
Sub Type Flex
Square Footage 214,200
Units 39
Cap Rate 8.00%
NOI $1,465,638
Occupancy 90.96%
Tenancy Multi
Price per SqFt $86
Class B
Year Built 1985
Year Renovated 2025
Buildings 8
Acreage 6.810
Zoning ZO01
Parking Spaces 481 spaces
Parking Per SqFt 2.25
Investment Type Value Add

Office | 8.00% CAP | 214,200 SqFt

Marketing 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% 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 NNN leases, below-market rents with embedded upside, and vacancy lease-up potential. Since 2021, ownership has invested $2.3M 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.

Investment highlights

  • Roughly 50% of tenants are utilizing warehouse space throughout portfolio
  • Directly across from Indianapolis International Airport — rated best in North America for 13 consecutive years
  • 91% occupied with a diverse mix of national, regional, and local tenants across 39 suites
  • 40 drive-in doors across all 8 buildings providing exceptional operational flexibility
  • Value-add opportunity: conversion of existing gross leases to NNN leases, capture of below-market rents, and vacancy lease-up
  • $2.3M of capital invested into the assets since 2021, including tenant-specific renovations, roof replacements, and HVAC work
  • Eight-building campus totaling 214,200 SF with a timeless brick façade and a campus-like environment

Listing Contacts

FB
IN AB21405968
Marcus & Millichap - Indianapolis
JD
IN RB14051407
Marcus & Millichap - Indianapolis
GP
RB18000371
Marcus & Millichap - Indianapolis
Sam Curtis
ZR
RB21002086
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis, Sam Curtis

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,465,638.00
$122,136.50/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Julia Evinger
License
RB14040143
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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