6555 Carrollton AveIndianapolis, IN 46220

Property Details for 6555 Carrollton Ave

Year built

1974

Construction

WOOD

Lot size

0.26 AC

Property size (Sq ft)

4,464 SF

Property type

Office properties

APN

49-03-36-105-034.000-801

APU

490336105034000801

Description

This 4,464 square foot, Class A office building in Indianapolis' Broad Ripple neighborhood is for sale at $1,100,000. The two-story building, constructed in 1974 and extensively renovated in 2018, features 2,232 square feet per floor and offers versatile space ideal for owner-occupancy. The property includes 20 parking spaces with an approved parking lot barn, four restrooms (two per floor), and a new HVAC system, roof, and electrical system (circa 2018). The building boasts 600 amps of 3-phase and single-phase electric service, and a generator providing backup power for lighting, electric, and server air conditioning. The interior is designed with quality finishes and soundproofed offices. The main level features easily removable half-walls, allowing for flexible space configuration. The lower level has a dropped ceiling (currently 7.5 feet high) and a structural wall that could be opened to expand the space. A dedicated server room with air conditioning is also present. The current tenant's lease expires July 31, 2025, with potential for lease expansion. The property is zoned D-4 with a commercial/medical use variance and enjoys a prime location, just one block east of North College Avenue and south of East 66th Street, offering easy access to shopping, entertainment, and restaurants. The 0.39-acre lot provides ample space. The building is currently 49% occupied, with the occupancy date set for December 1, 2024.

• CAP approach

  CAP return

  Valuation

  6%

  $580,754

  6.5%

  $536,080

  7%

  $497,789

• Comparable approach

  Method

  Valuation

  Relative Method

  $421,281

  Geo Method

  $421,281

• Alternative Use

  Use

  Valuation

  Residential

  $664,740

  Hospitality

  $608,898

  Educational

  $506,596

  Medical

  $524,019

  Retail

  $788,038

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8756

Longitude

-86.1444

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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