Indianapolis, IN Commercial Real Estate Market Trends

Commercial Real Estate Market Report

This page provides a high-level view of commercial real estate conditions in Indianapolis, combining current pricing, property scale, and active inventory to support early market evaluation.

Explore Commercial Properties in Indianapolis

Browse properties currently for sale or lease to see how local market pricing and building sizes translate into real opportunities.

Commercial Property For Sale in Indianapolis

Commercial Property For Rent in Indianapolis

Indianapolis's Demographic Profile

With a population of 879,846 and a median household income of $59,562, these metrics help investors gauge whether Indianapolis's pricing reflects local demand fundamentals.

Key Demographic Metrics	Value
Population	879,846
# Households	358,372
Median age	36
Median household income	$59,562
Avg household size	2
Renter-occupied housing units	174,947
5-year population change	-1%

Commercial Real Estate Market Snapshot in Indianapolis

These market metrics outline current pricing, typical deal size, and observed cap rate ranges, giving investors a quick read on entry costs and high-level underwriting expectations.

Key Market Metrics	Value
Avg asking sale price	$270 per SF
Avg asking lease rate	$19 per SF
Avg unit size for lease	21,514 SF
Avg building size for sale	30,308 SF
Average cap rate	7.93%

In Indianapolis, commercial properties are currently listed at an average sale price of $270 per square foot, with average lease rates around $19 per square foot. Typical leased spaces are approximately 21,514 SF, while properties for sale average 30,308 SF in building size. Observed cap rates average 7.93%, offering a reference point for return expectations relative to pricing and deal scale.

Commercial Properties For Sale In Indianapolis

The listings below reflect how current market pricing and building scale translate into active opportunities available today.

For Sale

5550 Poindexter Dr

Indianapolis, IN 46235

24,146 SF Industrial Building

For Sale

The Pennway Building

Indianapolis, IN 46204

25,016 SF Office Building
$4,950,000

For Sale

1001 Hosbrook St

Indianapolis, IN 46203

6,765 SF Specialty
$250,000

For Sale

Ciproms

Indianapolis, IN 46268

7,200 SF Office Building
$1,100,000

For Sale

3501 Massachusetts Avenue, Indianapolis, IN

Indianapolis, IN 46218

1,170 SF Specialty
$250,000

For Sale

7 Brew

Indianapolis, IN 46250

510 SF Retail Building
6.00% Cap Rate
$2,142,000

For Sale

3+ Acre Development Site Adjacent to I-465

Indianapolis, IN 46226

12,584 SF Retail Building
$3,000,000

For Sale

New Palestine Christian Church

New Palestine, IN 46163

11,362 SF Specialty
$2,500,000

Commercial Market Metrics by Property Type

Office Building Market Metrics Near Indianapolis

Office market metrics highlight how pricing, typical deal size, and return expectations vary across submarkets, helping investors compare entry costs and yield potential efficiently.

Nearby Office Markets	Avg Cost/SF	Typical Size	Cap Max
Indianapolis	$206	25,832 SF	10.38%
Carmel	$244	15,375 SF	7.78%
Zionsville	$312	9,534 SF	10.38%

Industrial Property Market Metrics Near Indianapolis

Industrial market data shows how cost per square foot and typical building size differ by submarket, supporting comparisons around deal scale and pricing alignment.

Nearby Industrial Markets	Avg Cost/SF	Typical Size	Cap Max
Indianapolis	$127	50,320 SF	10.00%
Mooresville	$223	5,293 SF	1.05%

Retail Property Market Metrics Near Indianapolis

Retail pricing varies widely across nearby markets, making this comparison useful for identifying where cost per square foot and deal size diverge most.

Nearby Retail Markets	Avg Cost/SF	Typical Size
Indianapolis	$306	14,413 SF
Carmel	$351	22,966 SF
Fishers	$339	22,459 SF
Westfield	$803	11,045 SF
Greenfield	$428	13,037 SF

How Investors Evaluate Commercial Real Estate Markets in Indianapolis

Use these tools to move from market-level signals to deal-level math. Each calculator helps translate Indianapolis pricing, rents, and building size into concrete metrics like value, income, and space requirements, so you can validate assumptions before spending time on individual listings.

Commercial Property Valuation

Understand Core Valuation Methods, Prevent Mistakes, and Use Our Instant Value Estimator

What Is a Cap Rate?

How To Calculate This Critical CRE Investment Metric and Why It Matters

Net Operating Income (NOI) Calculator

Calculating NOI and Understanding the Significance of This Metric in Commercial Real Estate Investment

Internal Rate of Return (IRR) Calculator

Use this calculator to measure annualized returns, compare investment scenarios, and evaluate risk across commercial real estate deals.

Cash on Cash Return

Learn How Cash on Cash Return Can Optimize Your Real Estate Investments

Debt Service Coverage Ratio (DSCR) Calculator

Assess Your Investment's Health in Seconds

Gross Rent Multiplier (GRM) Calculator & Investment Guide

Simplifying Your Investment Analysis

Land Loan Calculator

Use this calculator to estimate monthly payments, interest, and total financing costs for raw, unimproved, or improved land purchases.

Balloon Payment Calculator

Use this calculator to estimate monthly payments, total interest, and the final lump-sum balloon payment for commercial real estate loans.

Office Space Calculator

Estimate How Much Space Your Team Really Needs

Nearby Commercial Markets

Comparing nearby markets helps investors see whether Indianapolis pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets	Avg Cost/SF	Average Size
Indianapolis	$270	30,308 SF
Beech Grove	$211	32,246 SF
Cumberland	$108	128,380 SF
Camby	$111	4,288 SF
Greenwood	$224	24,729 SF

Multifamily For Sale In Indianapolis

Multifamily listings shown here connect market pricing and cap rate patterns with income-producing opportunities currently available.

For Sale

Six Over Meridian NNN Retail Condos

Indianapolis, IN

6.76% Cap Rate
$7,000,000

Regional Demographic Comparison

This comparison places Indianapolis alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Indianapolis or distributed across surrounding areas.

City	Population	# Households	Age	MedianHouseholdIncome	AvgHouseholdSize	RenterOccupiedHousingUnits	FiveYrPopGrowthPct
Indianapolis	879,846	358,372	36	$59,562	2	174,947	-1%
Beech Grove	13,544	5,789	38	$55,845	2	2,667	-3%
Cumberland	5,509	2,185	39	$78,505	3	818	5%
Camby	16,821	5,966	36	$78,853	3	1,467	2%
Greenwood	63,052	24,748	38	$74,373	3	9,256	6%

FAQs About Commercial Investing in Indianapolis

View All Commercial Real Estate For Sale in Indianapolis

Is Indianapolis a good market for a first-time commercial real estate investor?

Indianapolis offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Indianapolis?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Indianapolis. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Indianapolis?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Indianapolis. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Indianapolis compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Indianapolis. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Indianapolis acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Indianapolis, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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