502 Keystone AveIndianapolis, IN 46203

Property Details for 502 Keystone Ave

Year built

1920

Construction

WOOD

Lot size

0.43 AC

Property size (Sq ft)

3,674 SF

Zone code

ZO01

Property type

Retail properties

Property subtype

Retail space

APN

49-10-07-157-017.000-101

APU

491007157017000101

Description

This single-tenant property at 502 S Keystone offers 3,674 square feet of flexible space, perfect for a variety of businesses. Built in 1920, this one-story building features high ceilings throughout and is situated on a 0.43-acre lot. The property is zoned C-3, allowing for diverse uses including office, retail, bar, automotive, barber shop, sales, personal services, most shopping/durable goods, and public/semi-public uses. The interior includes a large open area, an office, a bathroom, and a unique feature: an old bank vault, perfect for secure storage. Access is convenient via a rear garage door, leading into the main space. A separate, large detached garage/storage unit is located behind the building, offering additional storage or workspace. Two vacant lots behind the building provide further potential for expansion, additional parking, or other uses. Six parking spaces are available, with some located in the front and rear of the property. The property's location is further enhanced by its proximity to English Street. This versatile property presents a unique opportunity for a business seeking a well-located, adaptable space with significant potential.

• CAP approach

  CAP return

  Valuation

  6%

  $701,857

  6.5%

  $647,868

  7%

  $601,592

• Comparable approach

  Method

  Valuation

  Relative Method

  $872,027

  Geo Method

  $872,027

• Alternative Use

  Use

  Valuation

  Residential

  $546,501

  Hospitality

  $500,592

  Educational

  $416,486

  Medical

  $430,810

  Retail

  $647,868

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7595

Longitude

-86.1215

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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