2 Madison AveGreenwood, IN 46142

Property Details for 2 Madison Ave

Year built

1920

Construction

TYPE NOT SPECIFIED

Lot size

0.43 AC

Property size (Sq ft)

18,360 SF

Property type

Office properties

Property subtype

Other office properties

APN

41-02-32-024-055.000-026

APU

410232024055000026

Description

This 18,000-square-foot, two-story Class B office building in Greenwood, Indiana, offers a unique opportunity for businesses seeking flexible and adaptable workspace. Located at 2 N Madison Ave, 46142, this historically significant property underwent a complete renovation in 2016, blending its charm with modern amenities. Currently, the building is fully vacant and available for lease, offering spaces ranging from 150 square feet to the entire 18,000 square feet. The building features a variety of spaces suitable for traditional office, medical office, creative office, coworking, or executive office uses, as well as training facilities. Amenities include multiple meeting rooms, collaboration areas, central reception areas, break rooms/kitchens, and a unique open atrium event space with a catering kitchen. The building's zoning is commercial, and it includes one hydraulic elevator. Its prime location in the heart of old town Greenwood offers easy access to popular restaurants, breweries, distilleries, banks, and retail shops. The owner offers flexibility in designing and modifying the space to meet specific tenant needs. This property presents a rare chance to establish a presence in a vibrant and convenient location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,380,790

  6.5%

  $2,197,652

  7%

  $2,040,677

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,722,535

  Geo Method

  $1,722,535

• Alternative Use

  Use

  Valuation

  Residential

  $2,725,089

  Hospitality

  $2,496,167

  Educational

  $2,076,782

  Medical

  $2,148,205

  Retail

  $3,230,549

Location Insight

City

Greenwood

County

Johnson

State

Indiana

Latitude

39.6157

Longitude

-86.1108

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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