2905 46Th StIndianapolis, IN 46205

Property Details for 2905 46Th St

Year built

1971

Construction

TYPE NOT SPECIFIED

Lot size

0.34 AC

Property size (Sq ft)

5,880 SF

Property type

Office properties

APN

49-07-17-111-070.000-801

APU

490717111070000801

Description

This 5,880 square foot, two-story office building presents a compelling owner-user investment opportunity in Indianapolis, Indiana. Built in 1964, the property sits on a 0.34-acre lot and features a flexible layout easily divisible into four suites, each approximately 1,035 square feet (excluding common areas). Currently configured for single occupancy, the building includes several private offices, a kitchenette, conference and training rooms, and ample storage. The property boasts 21 parking spaces within a fenced area, along with a monument sign for excellent visibility. Located on East 46th Street, between Allisonville Road and Binford Boulevard, it offers convenient access to I-465N (less than 10 minutes away) and is within close proximity to major amenities such as Castleton Square Mall (13 minutes), Downtown Indianapolis (16 minutes), Carmel City Center (20 minutes), and Indianapolis International Airport (24 minutes). The property is zoned MU-1, allowing for flexible commercial uses, including general and medical office spaces. The 2024 property taxes (payable in 2025) totaled $10,215.50, or $1.74 per square foot. The tax parcel ID number is 8006441. This property offers a unique blend of convenience, accessibility, and adaptability for a variety of business needs. The occupancy date is July 1, 2025.

• CAP approach

  CAP return

  Valuation

  6%

  $798,560

  6.5%

  $737,132

  7%

  $684,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $601,711

  Geo Method

  $601,711

• Alternative Use

  Use

  Valuation

  Residential

  $914,044

  Hospitality

  $837,260

  Educational

  $696,590

  Medical

  $720,547

  Retail

  $1,083,585

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8399

Longitude

-86.1159

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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