2217 Duke StIndianapolis, IN 46205

Property Details for 2217 Duke St

Year built

1924

Lot size

0.62 AC

Property size (Sq ft)

2,016 SF

Property type

Office properties

Property subtype

Office buildings

APN

49-07-18-103-309.000-801

APU

490718103309000801

Description

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.

• 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

Property Tax & Assessments

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