5959 71St StIndianapolis, IN 46220

Property Details for 5959 71St St

Year built

2006

Construction

WOOD

Lot size

1.09 AC

Property size (Sq ft)

4,772 SF

Zone code

ZO01

Property type

Banks

APN

49-02-34-121-004.001-400

APU

490234121004001400

Description

This exceptional retail opportunity presents a 4,772 square foot former bank building situated on a sizable 1.09-acre lot at the highly visible southeast corner of 71st Street and Binford Boulevard in Indianapolis, Indiana. Constructed in 2006, the property boasts a substantial footprint ideal for a variety of retail uses. Its prime location offers excellent visibility and accessibility, ensuring high traffic volume and strong potential for customer engagement. The building's previous use as a bank suggests a robust and secure structure, potentially minimizing significant renovation needs. The address is 5959 E 71st St, Indianapolis, IN 46220, within Marion County. This property is listed at $1,200,000 and presents a compelling investment opportunity for savvy entrepreneurs and developers seeking a well-located, established building in a thriving Indianapolis neighborhood. The expansive lot size also offers significant potential for future expansion or development, adding further value to this already attractive proposition. The property's location provides easy access to major roadways and a dense residential population, making it an ideal location for a variety of retail businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $994,489

  6.5%

  $917,990

  7%

  $852,419

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,493,439

  Geo Method

  $1,493,439

• Alternative Use

  Use

  Valuation

  Residential

  $774,359

  Hospitality

  $709,308

  Educational

  $590,136

  Medical

  $610,432

  Retail

  $917,990

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8829

Longitude

-86.0658

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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