2401 Directors RowIndianapolis, IN 46241

Property Details for 2401 Directors Row

Year built

1985

Construction

TYPE NOT SPECIFIED

Lot size

7.74 AC

Property size (Sq ft)

19,036 SF

Property type

Office properties

APN

49-12-24-102-024.000-900

APU

491224102024000900

Description

Directors Row Business Park offers a unique opportunity to lease 34,450 square feet of prime flex space in Building 2401. Currently undergoing a comprehensive conversion from traditional office to modern flex space, this property is slated for completion on August 1st, 2024. The renovation includes the demolition of existing office space and the strategic addition of three 10' x 10' drive-in doors, enhancing functionality and accessibility for various business needs. Built in 1985, the building boasts ample parking, catering to both employees and clients. Its strategic location within Directors Row Business Park provides easy access to major transportation arteries, including I-465 and I-70, ensuring seamless connectivity to Downtown Indianapolis and the Indianapolis International Airport. The property is zoned I-3 and CS, offering flexibility for a wide range of commercial uses. Its proximity to the popular Park Fletcher Business Park further enhances its desirability and potential for synergistic business relationships. This is an exceptional opportunity to secure a modern, well-located flex space in a thriving business community. The total building size is 214,200 square feet, with multiple tenants currently occupying the building. This specific unit offers a significant upgrade in functionality and accessibility, making it ideal for businesses requiring both office and warehouse space.

• CAP approach

  CAP return

  Valuation

  6%

  $2,466,773

  6.5%

  $2,277,021

  7%

  $2,114,377

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,783,786

  Geo Method

  $1,783,786

• Alternative Use

  Use

  Valuation

  Residential

  $2,823,506

  Hospitality

  $2,586,317

  Educational

  $2,151,785

  Medical

  $2,225,788

  Retail

  $3,347,221

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7324

Longitude

-86.2626

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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