3637 38Th StIndianapolis, IN 46218

Property Details for 3637 38Th St

Year built

1965

Construction

WOOD

Lot size

0.52 AC

Property size (Sq ft)

1,798 SF

Zone code

ZO01

Property type

Retail space

APN

49-07-20-109-178.000-101

APU

490720109178000101

Description

This exceptional retail investment opportunity is located at 3637 E 38th Street in Indianapolis, Indiana. The property encompasses a 1,798 square foot building situated on a 0.52-acre lot, offering significant potential for expansion. Currently, the center houses two retail spaces. One space, measuring 800 square feet, is available for immediate occupancy, presenting a fantastic chance for a new business to establish itself in a thriving location. The second space is a convenience store operating under a lease agreement extending through 2026, providing a stable and predictable income stream. The existing building's layout is well-suited for a variety of retail uses, and the generous lot size allows for the construction of an additional 1,500 square feet of building space, providing ample room for future growth and expansion. This presents a unique opportunity to increase the property's value and rental income. The property's strategic location in Indianapolis offers excellent visibility and accessibility, ensuring high foot traffic and strong potential for attracting customers. This is an ideal investment for those seeking a stable, income-producing asset with significant upside potential. The asking price for this prime retail center is $450,000. Don't miss this chance to acquire a valuable piece of Indianapolis real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $343,901

  6.5%

  $317,447

  7%

  $294,772

• Comparable approach

  Method

  Valuation

  Relative Method

  $427,704

  Geo Method

  $427,704

• Alternative Use

  Use

  Valuation

  Residential

  $267,778

  Hospitality

  $245,284

  Educational

  $204,073

  Medical

  $211,091

  Retail

  $317,447

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.825

Longitude

-86.1047

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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