724 Broad Ripple AveIndianapolis, IN 46220

Property Details for 724 Broad Ripple Ave

Year built

1946

Construction

TYPE NOT SPECIFIED

Lot size

0.28 AC

Property size (Sq ft)

7,020 SF

Property type

Office properties

APN

49-03-36-113-009.000-801

APU

490336113009000801

Description

This exceptional retail opportunity is located at 724 Broad Ripple Ave, Indianapolis, IN 46220, within the vibrant Broad Ripple neighborhood of Marion County. The property, formerly occupied by Huntington Bank, offers a total of three suites within a multi-tenant building. Currently, one suite is available for lease, boasting 1,869 square feet of clean, open space. Ideal for a variety of retail uses, this suite features a convenient kitchenette, an ADA-compliant in-suite bathroom, and a private side entrance accessible via a shared hallway. The property's location provides excellent visibility and accessibility, benefiting from high foot traffic and proximity to local amenities. The suite's layout is versatile and adaptable to suit diverse business needs. This is a rare chance to secure a well-appointed retail space in a thriving Indianapolis neighborhood. The property is classified as Retail, with a Commercial, Bank subtype. Serious inquiries are encouraged to explore this promising investment opportunity. The building is located at 39.869988 latitude and -86.1450203 longitude.

• CAP approach

  CAP return

  Valuation

  6%

  $953,176

  6.5%

  $879,854

  7%

  $817,008

• Comparable approach

  Method

  Valuation

  Relative Method

  $718,060

  Geo Method

  $718,060

• Alternative Use

  Use

  Valuation

  Residential

  $1,091,020

  Hospitality

  $999,368

  Educational

  $831,462

  Medical

  $860,058

  Retail

  $1,293,386

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8701

Longitude

-86.145

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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