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2,237 Commercial Real Estate Listings in Indianapolis, IN

Indianapolis, IN Commercial Real Estate

There are currently 2,257 commercial listings available in Indianapolis, IN. These listings include 1,268 commercial spaces that encompass a total of 15,124,449 square feet. Available commercial spaces in Indianapolis, IN range in size from 1 square feet to 607,868 square feet. A total of 1,516 off-market commercial properties located in Indianapolis, IN are also available for research.

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Indianapolis, IN Commercial Real Estate Market Overview

Location Photo

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, IN Commercial Inventory Breakdown

In 2022 the Indianapolis, IN commercial real estate market totaled 43,243,393 square feet of office spaces, 26,164,511 square feet of office spaces with retail, and 126,239,881 square feet of industrial space.

Office Spaces

Total: 43,243,393 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail
By square footage range:
50k to 100k SqFt 14,256,587 SqFt 32.97% of total office
100k to 500k SqFt 22,920,561 SqFt 53% of total office
500k to 1M SqFt 4,913,445 SqFt 11.36% of total office
> 1M SqFt 1,152,800 SqFt 2.67% of total office
By class:
Class A 16,926,744 SqFt 39.14% of total office
Class B 22,334,379 SqFt 51.65% of total office
Class C 1,467,587 SqFt 3.39% of total office
Roughly 11.36% of the total office space in Indianapolis, IN is comprised of properties between 500K to 1M square feet, and buildings between 50k to 100k square feet represent 32.97% of the office inventory.

Class A office space holds a 39.14% share of the overall Indianapolis, IN office market, while Class B office assets make up approximately 51.65%.

Industrial

Total: 126,239,881 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 23,828,958 SqFt 18.88% of total industrial
100k to 500k SqFt 61,622,046 SqFt 48.81% of total industrial
500k to 1M SqFt 21,358,393 SqFt 16.92% of total industrial
> 1M SqFt 19,430,484 SqFt 15.39% of total industrial
By class:
Class A 34,909,610 SqFt 27.65% of total industrial
Class B 82,438,080 SqFt 65.3% of total industrial
Class C 4,797,067 SqFt 3.8% of total industrial
There are 61,622,046 square feet of commercial real estate properties between 100k to 500k square feet, representing 48.81% of the Indianapolis, IN industrial inventory. Class A assets total 34,909,610 square feet of industrial space, with an additional 82,438,080 square feet of Class B and 4,797,067 square feet of Class C properties.

Office Spaces with Retail

Total: 26,164,511 SF

Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
50k to 100k SqFt 6,699,638 SqFt 25.61% of total office with retail
100k to 500k SqFt 16,958,323 SqFt 64.81% of total office with retail
500k to 1M SqFt 1,306,550 SqFt 4.99% of total office with retail
> 1M SqFt 1,200,000 SqFt 4.59% of total office with retail

Indianapolis, IN Currently Available Listings & Spaces

Number of Available Listings
City Property Type Count of listings Total SF
Indianapolis, IN Office 390 7,625,893
Indianapolis, IN Retail 140 1,254,235
Indianapolis, IN Industrial 137 6,198,068
Indianapolis, IN Other 760 15,150,799
Ofice Icon

390

Office

Industrial Icon

137

Industrial

Retail Icon

140

Retail

Current local active listing encompass 30,228,994 square feet of commercial space for lease in Indianapolis. There are 390 active office listings, which amount to 7,625,893 square feet and account for 27% of commercial spaces on the market. Local retail availability includes 1,254,235 square feet across 140 listings. Current industrial offerings on the market amount to 6,198,068 square feet across a total of 137.

Employment in Indianapolis city, IN

Employed Population 423,370

Employed population - Industry % Distribution

Management, business, science, and arts occupations

37%

Sales and office occupations

21%

Production, transportation, and material moving occupations

18%

Service occupations

17%

Natural resources, construction, and maintenance occupations

8%

In 2020, roughly 37% of a total of 423,370 employed in Indianapolis city worked in Management, business, science, and arts occupations, followed by 21% in Sales and office occupations and 18% in Production, transportation, and material moving occupations.

Income per capita $29,008  Median household income $49,661

Household income

50%

Under $50k

30%

$50k - $100k

16%

$100k - $200k

4%

Over $200k

The median household income in Indianapolis city stands at $49,661, with per capita income at $29,008. Households earning between $50k and $100k represent 30% of the total, while those earning over $200k make up 4%. Approximately 50% of Indianapolis city households earn less than $50k per year.

Commuting in Indianapolis city, IN

Mean travel time to work 24 minutes

Means of transportation to work

80.90%

Driving alone

10.50%

Carpool

1.50%

Public transit

0.40%

Bicycle

2.00%

Walking

0.70%

Other

4.00%

Work at Home

*Universe: Workers 16 and over

Education in Indianapolis city, IN

High school grad or higher 87%

Bachelor's degree or higher 31%

Population by minimum level of education

13%

No degree

30%

High school

26%

Some College

20%

Bachelor's

11%

Post-grad

*Universe: Workers 25 and over

An estimated 87% of Indianapolis city residents aged 25 or over hold a high school degree or higher. Of those, 30% are high school graduates, 26% attended some college, 20% earned a bachelor's degree, with an additional 11% holding post-graduate degrees.

Indianapolis city, IN Demographics

As of 2020, Indianapolis city had a total population of 870,340, with a median age of 34.30 years. Roughly 66.30% of the total population was between the ages of 16 and 64 years old.

Market News

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