86th Street Business Center — Sale in Indianapolis, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Indianapolis, IN 46256
  • Submarket: Fishers
  • Year built: 2001

Photos

86th Street Business Center — Sale in Indianapolis, IN, photo 1 of 2
86th Street Business Center — Sale in Indianapolis, IN, photo 2 of 2

Investment Figures

Cap rate
8.27%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present for sale the 86th Street Business Park, a two-building office/flex asset totaling 61,691 square feet situated on approximately 4.75 acres on the northeast side of Indianapolis. The park is 100 percent occupied by a diverse mix of national, regional, and local tenants and has maintained high historical occupancy — a testament to the quality of the tenant mix and the strength of the submarket. Limited owner expense obligations with tenants reimbursing their share of expenses over the base year. High historical occupancy provides a durable income profile with minimal lease-up risk for a new owner. Direct I-69 access with over 162,311 vehicles per day — the primary corridor connecting northern and southern Indiana into downtown Indianapolis. Dual interstate connectivity via I-69 and I-465, Indianapolis’s major beltway, providing metro-wide accessibility from every direction. Adjacent to Fishers, Indiana — one of the most affluent and fastest-growing communities in the state, generating sustained demand for professional flex and office space in this corridor. Exceptionally tight submarket — per CoStar, blended flex/office vacancy within a one-mile radius sits at just 1.5 percent, supporting rent stability and limiting competing supply. The Yard at Fishers District — approximately 4.5 miles north via I-69, Fishers District is one of Central Indiana's premier mixed-use destinations, anchored by IKEA, Portillo's, Shake Shack, and the Fishers Event Center. The development draws regional traffic and reflects the sustained growth and affluence of the Fishers market directly adjacent to the subject property's corridor. Investment Highlights: • Anchor Tenant Stability - Sharp Electronics Corporation Occupies 24,400 Square Feet (47% of the Center) Under a Lease Through April 2029 Providing a Creditworthy Foundation for the Income Stream • 100 Percent Occupied with a Diverse, Creditworthy Tenant Roster and a History of Consistent Collecti

Market Context

This office in Indianapolis, IN is listed for sale. It is offered at an approximate 8.3% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2001. Compare it against other office listings for sale in Indianapolis, IN — view the full market.

As of Q2 2026, the Indianapolis office market showed a 20.0% vacancy rate, average asking rents near $22.12/SF/yr, and rents up 0.1% year over year. Source: multiple brokerage reports, Q2 2026.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

Is the Indianapolis office market tightening or softening?
Vacancy is around 20.0% (Q2 2026).

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