5110 Commerce Square Dr

Baths
12,698 Sq. Ft.
$173 / Sq. Ft.
12,698
Sq. Ft.
$173
per Sq. Ft.

Description

This is a fully leased building in the heart of Franklin Township. This property a just down the street from Franciscan Hospital and has excellent visibility and access. The center has an array of medical and financial services tenants and leases that are in place for at least 3 years with some even longer. The leases have annual rental increases in them as well which will only improve the cap rate each year. This could be a great investment in a great location.This is a fully leased building in the heart of Franklin Township. This property a just down the street from Franciscan Hospital and has excellent visibility and access. The center has an array of medical and financial services tenants and leases that are in place for at least 3 years with some even longer. The leases have annual rental increases in them as well which will only improve the cap rate each year. This could be a great investment in a great location.

Property Details for 5110 Commerce Square Drive

Township
Franklin
Zoning
CS
LISTING UPDATED: 11/04/2025 10:02 PM

Property Details for 5110 Commerce Square Drive

StatusClosed
MLS #21986877
Days on Market41
Taxes$11,573 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1985
Lot Size1.57 AC / 68,389 SF
CountyMarion County

Location

Listing Courtesy of RE/MAX Advanced Realty

Sold By MIBOR REALTOR® Association

Add your commute

Building Information for 5110 Commerce Square Drive

Stories-Residences-Year Built1985Lot Size1.57 AC / 68,389 SF

Payment Calculator

$12,646 per month

30 year fixed, 6.15% Interest

Principal and Interest

$10,718

Property Taxes

$1,929

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5110 Commerce Square Drive

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46237
  • Postal Code Plus4: 8554
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 491515107028000300
  • Semi Annual Property Tax Amt: 11573
  • Tax Year: 2023
  • TaxLot: 1
School Information
  • School District: Franklin Township Com Sch Corp
Property
Lot Information
  • Acreage: 1-3 Acres
  • Current Use: Office
  • Lot Size Square Feet: 68389.0
  • Lot Size Acres: 1.57
  • New Construction: False
  • Space Available: 0
  • Sq Ft Total: 12698.0
  • Year Built Numeric: 1985
Property and Assessments
  • Affected by Disclosures: No
  • DPRYN: No
  • Legal Subdivision: Pt Sw1/4 Sw1/4 S15 T14 R4 Beg 951Ft N & 50Ft E &60Ft N Of Sw Cor N 205Ft E 300Ft S 205Ft Sw35.36Ft W 250Ft Nw 35.36Ft To Beg1.57Ac
  • Photos Count: 2
  • Property Sub Type: Mixed Use
  • Property Type: Commercial Sale
  • Transaction Type: Sale
Utilities
  • Utilities: Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
Multi Family
Income & Expenses
  • Net Operating Income: $163,031.00

Property History for 5110 Commerce Square Drive

DateEvent & SourcePriceAppreciation
Aug 28, 2024

Sold

MIBORMLS #21986877

$2,199,000
Aug 1, 2024

Pending

MIBORMLS #21986877

Jun 21, 2024

Listed (Active)

MIBORMLS #21986877

$2,299,900
DateEvent & SourcePrice
08/28/2024

Sold

MIBORMLS #21986877

$2,199,000
08/01/2024

Pending

MIBORMLS #21986877

06/21/2024

Listed (Active)

MIBORMLS #21986877

$2,299,900

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5110 Commerce Square Drive

Taxable ValueLand$386,600Additions$459,300Total$845,900
Tax Record2024$21,745 ($1,812 / month)
Home Facts
Total Finished SqFt12,698 SqFtAbove Grade Finished SqFt12,698 SqFtStories1Lot Size68,389 SqFtStyleOffice BuildingYear Built1985CountyMARIONAPN49-15-15-107-028.000-300

Schools near 5110 Commerce Square Drive

This home is within Franklin Township Com Sch Corp.
Rating
School
Type
Grades
Distance
Public - K to 3
Public - 7 to 8
Public - 9 to 12
Public - K to 3
Rating
School
Distance
Bunker Hill Elementary School
PublicK to 3

Franklin Central Junior High
Public7 to 8

Franklin Central High School
Public9 to 12

Arlington Elementary School
PublicK to 3

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of RE/MAX Advanced Realty

Based on information submitted to the MLS GRID as of 11/04/2025 10:02 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.