Indianapolis, IN Commercial Real Estate for Lease - 646 Listings

5621 Dividend Road

5621 Dividend Road, Drexel Gardens, Indianapolis, IN
Property

Industrial

83,520 SF
Availability

1 Space

25,805 SF
Year Built

1996
For Lease Contact for pricing
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PNC Center

101-115 W Washington St, Wholesale District, Indianapolis, IN
Property

Office

575,552 SF
Availability

1 Space

12,857 SF
Year Built

1976
For Lease

$18.00/SF/YR
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Park 100 Building 7

5333-5367 W 86th Street, Park 100, Indianapolis, IN
Property

Industrial

42,156 SF
Availability

1 Space

3,637 SF
Year Built

1974
For Lease Contact for pricing
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245 South Franklin Road

245 South Franklin Road, Bullman Home Place, Indianapolis, IN
Property

Industrial

118,850 SF
Availability

1 Space

118,850 SF
Year Built

2002
For Lease Contact for pricing
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2900 N Shadeland Ave

2900 N Shadeland Ave, Arlington Woods, Indianapolis, IN
Property

Industrial

926,840 SF
Availability

2 Spaces

346,145 SF
Year Built

1951
For Lease

$3.25/SF/YR
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5505 N. Keystone Ave.

5505 N. Keystone Ave., Lake Maxinhall Estates, Indianapolis, IN
Property

Retail

4,800 SF
Availability

1 Space

4,800 SF
Year Built

1967
For Lease Contact for pricing
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Penrose on Mass Project

530 Massachusetts Ave, Chatham Arch and Mass Avenue, Indianapolis, IN
Property

Retail

39,000 SF
Availability

2 Spaces

9,555 SF
For Lease Contact for pricing
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Crosspoint IV

9795 Crosspoint Blvd, Castleton, Indianapolis, IN
Property

Office

41,698 SF
Availability

2 Spaces

22,952 SF
Year Built

1989
For Lease Contact for pricing
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Crosspoint V & VI

9775 Crosspoint Blvd, Castleton, Indianapolis, IN
Property

Office

86,386 SF
Availability

5 Spaces

31,769 SF
Year Built

1999
For Lease Contact for pricing
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Shadeland Office Building

6910 N. Shadeland Ave, East Avalon Hills, Indianapolis, IN
Property

Office

25,445 SF
Availability

2 Spaces

10,000 SF
Year Built

1975
For Lease

$20.00/SF/YR
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CityWay

229 S Delaware St., Fletcher Place, Indianapolis, IN
Property

Retail

44,000 SF
Availability

3 Spaces

10,945 SF
For Lease Contact for pricing
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Lake Pointe Center II

8440 Allison Pointe Blvd, Castleton, Indianapolis, IN
Property

Office

87,396 SF
Availability

4 Spaces

18,353 SF
Year Built

1992
For Lease

$21.00/SF/YR
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Lakefront at Keystone - Lakefront 14

9225 Priority Way West Drive, Keystone at The Crossing, Indianapolis, IN
Property

Office

72,481 SF
Availability

2 Spaces

6,313 SF
Year Built

2006
For Lease Contact for pricing
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Woodland Center II

8335 Allison Pointe Trail, Castleton, Indianapolis, IN
Property

Office

76,914 SF
Availability

4 Spaces

62,369 SF
Year Built

1988
For Lease Contact for pricing
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1240 Brookville Way

1240 Brookville Way, Glenroy Village, Indianapolis, IN
Property

Industrial

62,308 SF
Availability

2 Spaces

31,500 SF
Year Built

1989
For Lease Contact for pricing
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Southport Shoppes

2222 W. Southport Rd. , Governors Pointe, Indianapolis, IN
Property

Retail

16,409 SF
Availability

3 Spaces

7,174 SF
Year Built

2007
For Lease

$14.00/SF/YR
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Hillsdale Building 1

6911-6999 Hillsdale Ct, Bayview, Indianapolis, IN
Property

Industrial

73,866 SF
Availability

3 Spaces

14,034 SF
Year Built

1986
For Lease Contact for pricing
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Castleton Park - Buildings 16 & 48

8041 Knue Road, Castleton, Indianapolis, IN
Property

Office

50,485 SF
Availability

2 Spaces

36,217 SF
Year Built

1978
For Lease Contact for pricing
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5980 West 71st Street

5980 West 71st Street, Park 100, Indianapolis, IN
Property

Office

27,262 SF
Availability

2 Spaces

27,262 SF
For Lease

$16.75/SF/YR
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96th St Commerce Park

4141, Keystone at The Crossing, Indianapolis, IN
Property

Industrial
Availability

1 Space

145,123 SF
For Lease Contact for pricing
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3.3 Acres of Industrial Outdoor Storage

602 W Ray St, Babe Denny, Indianapolis, IN
Property

Other
Availability

1 Space

3.3 Acre
For Lease Contact for pricing
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96th St Commerce Park - Outlots

96th St Commerce Park - Outlot, Keystone at The Crossing, Indianapolis, IN
Property

Retail
Availability

1 Space

4.03 Acre
For Lease Contact for pricing
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117 East Washington Street

117 East Washington Street, Fletcher Place, Indianapolis, IN
Property

Office

48,702 SF
Availability

1 Space

8,067 SF
Year Built

2007
For Lease

$22.00/SF/YR
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Bottleworks | Building 1

850 Massachusetts Ave, Chatham Arch and Mass Avenue, Indianapolis, IN
Property

Office
Availability

1 Space

12,334 SF
For Lease Contact for pricing
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WFYI Headquarters Building

1630 N Meridian St, Herron - Morton Place, Indianapolis, IN
Property

Office

94,000 SF
Availability

1 Space

3,561 SF
Year Built

1964
For Lease Contact for pricing
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8465 Keystone Crossing

8465 Keystone Crossing, Keystone at The Crossing, Indianapolis, IN
Property

Office

29,232 SF
Availability

1 Space

496 SF
Year Built

1983
For Lease

$21.00/SF/YR
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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 25,891,940 square feet of office space across 374 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 2,395 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 18,704,057 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 16,397,598 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 13,985,680 square feet of available listings. Office space available in Indianapolis adds up to 8,034,861 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 $19.36 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 $20.84 per square foot, industrial space in Indianapolis saw average rents of $8.11 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 $18,000,000 that is located at 8711 River Crossing Blvd.

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 86,596 square feet.
Retail properties here incorporate an average of 142,780 square feet.
Industrial space in Indianapolis is in buildings that are, on average 153,249 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 26,797,306 square feet. The market offers 317 active office listing(s), which amount to 8,034,861 square feet and account for 49% of commercial spaces on the market. Local retail availability includes 1,809,354 square feet across 119 retail space(s). Industrial space for rent opportunities in Indianapolis amount to 13,985,680 square feet across a total of 179 warehouse and other industrial listing(s).

Property Type	Count of Listings	Total SF
Office	317	8,034,861
Retail	119	1,809,354
Industrial	179	13,985,680
Other	21	2,967,412

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 14,982,701 square feet of commercial property for sale here , which includes 57 office building(s) for sale , 30 retail investment opportunity listing(s) , and 24 listing(s) of industrial real estate property for sale .

Property Type	Count of Listings	Total SF
Office	57	2,013,342
Retail	30	10,645,456
Industrial	24	761,436
Other	53	1,562,468

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, IN Commercial Real Estate for Lease - 646 Listings

5621 Dividend Road

PNC Center

Park 100 Building 7

245 South Franklin Road

2900 N Shadeland Ave

5505 N. Keystone Ave.

Penrose on Mass Project

Crosspoint IV

Crosspoint V & VI

Shadeland Office Building

CityWay

Lake Pointe Center II

Lakefront at Keystone - Lakefront 14

Woodland Center II

1240 Brookville Way

Southport Shoppes

Hillsdale Building 1

Castleton Park - Buildings 16 & 48

5980 West 71st Street

96th St Commerce Park

3.3 Acres of Industrial Outdoor Storage

96th St Commerce Park - Outlots

117 East Washington Street

Bottleworks | Building 1

WFYI Headquarters Building

8465 Keystone Crossing

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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Indianapolis, IN Commercial Real Estate for Lease - 646 Listings

Frequently Asked Questions

What are the different types of commercial real estate?

What types of commercial real estate are available in Indianapolis, IN?

What factors affect the price of commercial real estate in Indianapolis, IN?

What is the average rent for commercial space in Indianapolis, IN?

What are the best areas for commercial real estate in Indianapolis, IN?

How do I find a good commercial real estate broker?

What is the most profitable commercial real estate?

What is the average size of a commercial property in Indianapolis, IN?

Indianapolis, IN Currently Available Listings

Commercial Space for Lease Breakdown

Commercial Space for Sale Breakdown

Indianapolis, IN Commercial Real Estate Market Overview

Other Popular Searches

Popular Coworking Searches

Popular Office Searches

Popular Retail Searches

Popular Industrial Searches

About us