This exceptional ±13,000 square foot multi-tenant industrial building presents a compelling owner-user or value-add investment opportunity in Indianapolis, Indiana. Located at 2217-2225 Duke Street, this property boasts I-2 zoning, providing versatility for a range of uses. The building features five loading docks with drive-in bays, and a desirable 12-foot clear ceiling height. Currently, some tenants are on month-to-month leases, offering flexible occupancy options for the new owner. Its strategic location just off Binford Boulevard, adjacent to the Indiana State Fairgrounds, ensures excellent accessibility and visibility. A short 15-minute drive to downtown Indianapolis and surrounding suburbs, including Broad Ripple, provides convenient access to a diverse array of amenities and a strong workforce. The asking price is $1,100,000. This property is ideally suited for investors seeking a prime commercial real estate investment in a thriving Indianapolis market, offering strong potential for both immediate income and future appreciation. The property's central location and convenient access to the newly renovated Nickel Plate Trail further enhance its appeal.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$262,256
6.5%
$242,083
7%
$224,791
Comparable approach
Method
Valuation
Relative Method
$190,230
Geo Method
$190,230
Alternative Use
Use
Valuation
Residential
$300,183
Hospitality
$274,966
Educational
$228,768
Medical
$236,636
Retail
$355,862
Location Insight
City
Indianapolis
County
Marion
State
Indiana
Latitude
39.8372
Longitude
-86.1234
CBSA code
26900
CBSA name
INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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