2424 55Th StIndianapolis, IN 46220

Property Details for 2424 55Th St

Year built

1956

Construction

TYPE NOT SPECIFIED

Lot size

1.56 AC

Property size (Sq ft)

22,802 SF

Property type

Office properties

Property subtype

Other office properties

APN

49-07-08-103-005.000-801

APU

490708103005000801

Description

This exceptional 22,804-square-foot office/flex building presents a unique investment opportunity. Situated on 1.52 acres and boasting a prime location near Keystone Ave, this single-tenant property offers unparalleled convenience. The building, constructed in 1956 and extensively renovated in 2011, features a single story with 11-foot ceilings, providing ample space for a variety of uses. Currently configured as 100% office space, the I-1 zoning allows for flexibility, potentially accommodating a conversion to accommodate industrial needs. The property includes a significant advantage with 94 parking spaces and one convenient drive-in bay. Power is robust, featuring 3-phase, 208V, 800 amp service, further enhanced by a 275KW natural gas generator ensuring reliable operation. The building's proximity to Broad Ripple Village and Glendale amenities provides employees with easy access to a variety of dining, shopping, and entertainment options. This property is ideal for an owner-occupant seeking a substantial and versatile space, or an investor looking for a strong return. The new roof (installed in 2011) adds to the property's value and reduces maintenance concerns. This is a rare opportunity to acquire a well-maintained, strategically located commercial property with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,966,981

  6.5%

  $2,738,752

  7%

  $2,543,126

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,152,554

  Geo Method

  $2,152,554

• Alternative Use

  Use

  Valuation

  Residential

  $3,396,052

  Hospitality

  $3,110,766

  Educational

  $2,588,120

  Medical

  $2,677,130

  Retail

  $4,025,965

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8532

Longitude

-86.121

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].