1502 Emerson AveIndianapolis, IN 46219

Property Details for 1502 Emerson Ave

Year built

1953

Construction

TYPE NOT SPECIFIED

Lot size

0.08 AC

Property size (Sq ft)

2,736 SF

Zone code

ZO01

Property type

Medical offices

Property subtype

Medical centers

APN

49-07-33-167-053.000-101

APU

490733167053000101

Description

This exceptional 0.08-acre commercial land parcel, located at 1502 N Emerson Ave in Indianapolis, Indiana (zip code 46219), presents a compelling redevelopment opportunity. The property boasts a highly visible location on a main thoroughfare with over 19,600 vehicles passing daily along North Emerson Avenue and an additional 12,000 vehicles on East 16th Street. Its strategic position within a dense retail corridor offers immediate proximity to numerous established businesses, including CVS Pharmacy, Ross, Kroger, Hardee's, Family Dollar, Little Caesars, Subway, Dunkin', McDonald's, and Bank of America. Furthermore, the site's adjacency to Scecina Memorial High School, with an enrollment exceeding 400 students, provides a significant demographic advantage. The strong local demographics are further underscored by the presence of over 287,200 individuals residing within a 5-mile radius. The property's size is approximately 2,760 square feet and was previously utilized as a veterinary clinic. This location offers excellent visibility and access, making it ideal for a variety of commercial ventures. The asking price for this prime redevelopment opportunity is $575,000. Don't miss this chance to capitalize on this high-traffic, high-visibility location in a thriving Indianapolis neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $355,972

  6.5%

  $328,589

  7%

  $305,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $258,238

  Geo Method

  $258,238

• Alternative Use

  Use

  Valuation

  Residential

  $407,451

  Hospitality

  $373,223

  Educational

  $310,517

  Medical

  $321,196

  Retail

  $483,026

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7881

Longitude

-86.0836

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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