One of the crucial advancements in next-generation 5G wireless networks is the use of high-frequency signals specifically those are in the millimeter wave (mm-wave) bands. Using mmwave frequency will allow more bandwidth resulting higher user data rates in comparison to the currently available network. However, several challenges are emerging (such as fading, scattering, propagation loss etc.), whenever we utilize mm-wave frequency wave bands for signal propagation. Optimizing propagation parameters of the mm-wave channels system are much essential for implementing in the real-world scenario. To keep this in mind, this paper presents the potential abilities of high frequencies signals by characterizing the indoor small cell propagation channel for 28, 38, 60 and 73 GHz frequency band, which is considered as the ultimate frequency choice for many of the researchers. The most potential Close-In (CI) propagation model for mm-wave frequencies is used as a Large-scale path loss model. Results and outcomes directly affecting the user experience based on fairness index, average cell throughput, spectral efficiency, cell-edge user’s throughput and average user throughput. The statistical results proved that these mm-wave spectrum gives a sufficiently greater overall performance and are available for use in the next generation 5G mobile communication network.