2131 E 54th St, Indianapolis, IN — Lease in Indianapolis, IN

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Indianapolis, IN 46220
  • Size: 5,530 SF
  • Year built: 1964

Description

High-visibility Broad Ripple commercial building available for sale or lease. This 5,530 SF freestanding building offers excellent access and exposure along the north Indianapolis corridor, making it ideal for a variety of users seeking strong presence and convenience. The flexible layout supports one to three users and has a history of use as a daycare, church, and office facility. The building’s configuration allows for a range of future uses including office, educational, nonprofit, and religious organizations. Features include a fenced outdoor area used as a daycare playground and a detached 22’ x 24’ garage providing additional storage or operational space. Conveniently positioned on 0.64 acres with immediate usability and future redevelopment potential, the property offers both functional space for today and long-term upside for investors or owner-users. Building SF: 5530 | Land Size: 0.64 Ac | Year Built: 1964 | Listing Type: FOR LEASE

Market Context

This office in Indianapolis, IN is listed for lease across 5,530 SF. The building dates to 1964. It has been on the market for 71 days. Compare it against other office listings for lease in Indianapolis, IN — view the full market.

As of Q1 2026, the Indianapolis office market showed average asking rents near $20.98/SF/yr, and cap rates around 8.6%. Source: multiple brokerage reports, Q1 2026.

Office market FAQ

What is the typical cap rate for office in Indianapolis?
About 8.6% as of Q1 2026, per multiple brokerage reports.

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