1425 86Th StIndianapolis, IN 46240

Property Details for 1425 86Th St

Year built

1972

Construction

WOOD

Lot size

0.81 AC

Property size (Sq ft)

27,063 SF

Zone code

ZO01

Property type

Turn key restaurants

APN

49-03-24-113-017.000-800

APU

490324113017000800

Description

Nora Station, located at 1425 E 86th St, Indianapolis, IN 46240, presents a unique opportunity for businesses seeking Class A office space in the desirable Nora submarket. This two-building complex, constructed in 1972 and extensively renovated in 2015, offers a total of 27,588 square feet of office space. Currently, one suite is available, totaling 880 square feet, representing a minimum divisible space. While the maximum contiguous space is also 880 square feet, this provides flexibility for smaller office users. The property features a convenient shared kitchen and break room. Situated near the intersection of East 86th Street and Westfield Boulevard, this location boasts exceptional walkability to numerous amenities, including coffee shops and local businesses within the Nora business district. Enjoy the proximity to the Monon Trail and a selection of four restaurants, as well as easy access to grocery stores. The property is a two-story building, however, it does not include elevators. This executive and traditional office space provides a compelling option for businesses seeking a well-maintained, amenity-rich environment in a thriving Indianapolis neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $5,178,550

  6.5%

  $4,780,200

  7%

  $4,438,758

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,442,731

  Geo Method

  $6,442,731

• Alternative Use

  Use

  Valuation

  Residential

  $4,032,278

  Hospitality

  $3,693,545

  Educational

  $3,072,986

  Medical

  $3,178,671

  Retail

  $4,780,200

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.912

Longitude

-86.1361

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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