539 Market StIndianapolis, IN 46204

Property Details for 539 Market St

Year built

2003

Lot size

0.09 AC

Property size (Sq ft)

1,000 SF

Zone code

ZO01

Property type

Office properties

Property subtype

Office buildings

APN

49-11-01-125-004.000-101

APU

491101125004000101

Description

This stunning 3,162 square foot creative office building, located at 539 E Market St in Indianapolis, Indiana, presents a unique investment opportunity. Built in 1900 and extensively renovated in 2010, this Class B property boasts a prime location in the heart of downtown, offering easy access to Whole Foods and the vibrant amenities of Mass Ave. The building sits on a 0.26-acre lot encompassing three parcels (1075618, 1068627, and 1074978) and currently includes 8 parking spaces with expansion potential. The property is zoned CBD2 and features a two-story structure with a net rentable area of 2,059 square feet. Currently vacant, this building is priced at $495,000, or $156.55 per square foot, making it an attractive option for owner-occupants or investors seeking a well-maintained, historically significant property in a thriving urban environment. The building's convenient location and recent renovations offer immediate occupancy and the potential for significant return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $129,906

  6.5%

  $119,913

  7%

  $111,348

• Comparable approach

  Method

  Valuation

  Relative Method

  $94,123

  Geo Method

  $94,123

• Alternative Use

  Use

  Valuation

  Residential

  $148,692

  Hospitality

  $136,201

  Educational

  $113,318

  Medical

  $117,215

  Retail

  $176,272

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.768

Longitude

-86.1476

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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