Indianapolis, IN Commercial Real Estate for Lease and Sale

Explore 943 listings of Indianapolis commercial real estate to find the best space for your business.

U.S. Geological Survey & U.S. Department of Agriculture - Indiana State Headquarters

5957-6035 Lakeside Blvd, Quail Ridge, Indianapolis, IN
Property

Office

87,833 SF
Year Built

1986
For Sale

$13,510,000
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30th & Mitthoeffer

10040 E 30th St, Eastbrooke Meadows, Indianapolis, IN
Property

VacantLand

3.25 Acre
Availability

1 Space

3.25 Acre
For Lease Contact for pricing
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Valley Ridge Development

5350 E Southport Rd, I65 - South Emerson, Indianapolis, IN
Property

Other
For Sale Contact for pricing
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Kohl’s Outlot

8141 E. 96th St., Brunson Acres, Indianapolis, IN
Property

VacantLand

1 Acre
Availability

1 Space

1 Acre
For Lease Contact for pricing
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Building 42 Park 100

5366 West 79th Stre, Park 100, Indianapolis, IN
Property

Industrial

37,400 SF
Availability

1 Space

2,400 SF
For Lease

$11.00/SF/YR
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Eleven Park Tower

1 Eleven Park, North Meridian, Indianapolis, IN
Property

Office

200,000 SF
Availability

1 Space

200,000 SF
For Lease Contact for pricing
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Esquire Plaza

8101–8401 Pendleton Pike, Farmington Lakes, Indianapolis, IN
Property

VacantLand

2.25 Acre
Availability

3 Spaces

2.25 Acre
Year Built

1962
For Lease Contact for pricing
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Frequently Asked Questions

Commercial real estate is a broad category that includes a high variety of space types designed to meet the needs of various industries of the local economy and their specialized subsectors, as presented in our real estate 101 guide to types of commercial real estate. However, there are three main categories that you are most likely to come across: office, retail, and industrial space.
- Modern office space is typically organized over large floor plates bound by high ceilings and large windows for an abundance of natural light and is located in transit-oriented developments with good access to multiple modes of transportation, so as to facilitate employee commute. The Indianapolis commercial real estate market incorporates 28,078,783 square feet of office space across 391 buildings.
  
  Office buildings can also accommodate coworking spaces, which are shared office options that typically cater to the needs of small, startup businesses that require flexible workspaces, a concentration of amenities, and services that can be accessed on an occasional or short-term basis. In Indianapolis, the coworking segment of the commercial real estate market incorporates about 3,603 square feet.
- Retail space includes shopping malls, department stores, street retail, or specialty stores dedicated to a narrow range of products. Such properties are typically located in high foot-traffic and/or car traffic areas, to facilitate customer access. The Indianapolis commercial real estate market includes 10,582,224 square feet of retail space in a variety of settings.
- Industrial property most often serves businesses operating in manufacturing or logistics and generally consists of large open spaces located within good access to roads, railways, freight airports or regional water ports. Industrial space listings can include warehouses, manufacturing plants, distribution centers, flexible industrial space, or even data center facilities. Across the Indianapolis market, there is a total of 21,018,743 square feet of industrial property.
The listing inventory in Indianapolis incorporates commercial real estate for lease and for sale of almost all property types and subtypes. However, you’ll find some categories offer more rental or investment opportunities than others.

The largest share of commercial real estate space for lease in Indianapolis is represented by Industrial space, which accounts for 15,321,226 square feet of available listings. Office space available in Indianapolis adds up to 8,924,638 square feet.

Meanwhile, most of the listings of commercial property for sale in Indianapolis are in the Office category.
The price of renting or buying commercial real estate is influenced by a variety of factors, including: the property type (for example, office space is priced higher than other property types in most locations); the condition and asset class rating (property rated class A or above will typically command a higher price than lower grade classifications); the quality or the development potential of the property location; whether or not there is high demand for the type of commercial asset in question; and what the state of supply is relative to demand.
The average rent for commercial real estate space listed for lease in Indianapolis is $19.11 per square foot. However, this value does not offer enough perspective on its own, as you will find significant variation in prices across property types, property classes, and location, as well as other impacting factors. For instance, rent per square foot of office space in Indianapolis can vary greatly depending on the rating of the property from Class A to Class C, as well as across the city depending on the location of the asset. What’s more, each commercial property type makes its own rent market: while the average rent for office space rested at $23.79 per square foot, industrial space in Indianapolis saw average rents of $7.78 per square foot.
Whether you are looking for commercial real estate for lease or commercial property for sale, the best choice of location depends on the factors that are most relevant to your business strategy. A good thing to look for at the start, however, is the areas of the city that have the highest concentration of your preferred type of property, as these areas are generally well connected to the amenities and points of interest that are most relevant to each property type.

As such, there are several areas that you could consider to be the best location for commercial real estate in Indianapolis, depending on the property type you are interested in. The highest concentration of commercial space listings of any kind in Indianapolis is in the North Meridian neighborhood. But if we look at each commercial property type, we find that for office space, the best location is the North Meridian area.

Meanwhile, retail space opportunities are most abundant in the Castleton submarket. Alternatively, if you are looking for warehouse or other industrial space, consider looking at listings in Park 100.

Select your preferred property type from the search filters menu at the top of the search page and then navigate the interactive map for a better view of commercial real estate availability in the locations most suited to your needs.
Regardless of whether buying or leasing commercial space is a new experience for you, there are significant benefits to working with a commercial real estate broker. In addition to saving you time and money, an experienced broker will contribute specialist knowledge of the local market, the property type you need representation for, and will handle negotiations on your behalf in your best interest.

To start, it is important for you to have a good understanding of what kind of broker you need. For instance, there are differences between a tenant broker and a listing broker. Also important at the start is to have a clear idea of what kind of space (or tenant) you are looking for and what (if any) particular needs and requirements you might have. And, while it is good to get a referral, you should interview several brokers to better gauge who you feel would best represent your interests.

CommercialCafe hosts listings from some of the most trusted commercial real estate brokerages in the country. Use the contact form available on each listing page or the contact details for the property representatives to reach out and start your search!
The profitability of a commercial real estate investment depends on a multitude of factors working together. These factors include the quality of the asset itself — which itself includes aspects such as location, property class, amenities, and the quality of the property management — to the local market conditions, the state of the local economy, the demand for that particular type of commercial property, and of course the costs of owning and maintaining it relative to what leasing rate or sale price you get from the property. Asking rents in the city went as high as $43 per square foot. In particular, the property type commanding the highest lease rates in Indianapolis was Retail space.

Conversely, the highest sale price last year was $11,500,000 that is located at 8650 Commerce Park Place.
The average size of a commercial property in Indianapolis depends greatly on the property type and the location — geographical possibilities and zoning allowances have significant influence on how big developers can build. While there are outliers that break height or volume records in the city, we can look at some average sizes by property use:
- In Indianapolis, the average size of an office property is 89,709 square feet.
- Retail properties here incorporate an average of 66,139 square feet.
- Industrial space in Indianapolis is in buildings that are, on average 142,985 square feet in size.

Indianapolis, IN Currently Available Listings

Commercial Space for Lease Breakdown

Commercial real estate listings for rent in Indianapolis currently add up to 31,565,999 square feet. The market offers 334 active office listing(s), which amount to 8,922,810 square feet and account for 46% of commercial spaces on the market. Local retail availability includes 2,140,410 square feet across 145 retail space(s). Industrial space for rent opportunities in Indianapolis amount to 15,279,708 square feet across a total of 201 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	334	8,922,810
Retail	145	2,140,410
Industrial	201	15,279,708
Other	44	5,223,071

Commercial Space for Sale Breakdown

What’s more, if you are interested in making an investment in the local market, you can also find commercial real estate for sale in Indianapolis, IN. Currently, there is 7,567,198 square feet of commercial property for sale here , which includes 58 office building(s) for sale , 32 retail investment opportunity listing(s) , and 52 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	58	1,980,963
Retail	32	703,896
Industrial	52	2,396,595
Other	65	2,485,744

Indianapolis, IN Commercial Real Estate Market Overview

The statistical metropolitan area that has grown from and around Indianapolis is home to more than 2 million residents. Although frequently overlooked in rankings of the country’s strongest labor markets due to its traditionally more modest growth rates, Indianapolis stands as one of the most important economic engines in the midwestern region. Top sectors of the city’s diverse economy include finance; insurance; manufacturing; professional and business services; and healthcare.

Following the decline in heavy manufacturing at the close of the great Industrial Age, services replaced manufacturing as the largest sector of the local economy. In particular, biological sciences became a main focus of development efforts. Indianapolis commercial real estate caters to a diverse mix of industries and is home to leading producers of pharmaceuticals, musical instruments, electrical products and mobile phones. Real estate, insurance and financial services are the main drivers of the services sector, followed by professional and technical services.

Indianapolis Commercial Real Estate Overview

About us

CommercialCafe is your go-to commercial real estate listing source. We partner with highly respected major brokerages from across the country to ensure high-quality listings that are updated frequently. Our online marketplace lists all commercial property types from office, coworking, retail, and industrial to special purpose properties.

CommercialCafe is a trusted Yardi brand and is an integral part of the CommercialEdge network — the fastest-growing network of online real estate marketplaces, which ranks on the 1st page of Google for all top markets, attracts more than 2 million monthly visits, and generates more than 350,000 broker contacts.

Indianapolis, IN Commercial Real Estate for Lease and Sale

U.S. Geological Survey & U.S. Department of Agriculture - Indiana State Headquarters

30th & Mitthoeffer

Valley Ridge Development

Kohl’s Outlot

Building 42 Park 100

Eleven Park Tower

Esquire Plaza

Frequently Asked Questions

Indianapolis, IN Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

Indianapolis, IN Commercial Real Estate Market Overview

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