247 Meridian StIndianapolis, IN 46225

  • Other commercial real estate
  • 17,500 SF
For Lease
$34/SF/YR View listing

Property Details for 247 Meridian St

Year built
1880
Construction
WOOD
Lot size
0.12 AC
Property size (Sq ft)
17,500 SF
Zone code
ZO01
Property type
Other commercial real estate
APN
49-11-12-238-006.000-101
APU
491112238006000101

Description

This exceptional turnkey restaurant opportunity encompasses 8,750 square feet of street-level space within the historic Rusch Building, constructed in 1867 and extensively renovated in 2022. Located in the vibrant Wholesale District, this property offers a unique blend of historical charm and modern amenities. The building boasts four stories and sits on a 0.25-acre lot. The space is zoned CBD2 and features a single suite within the building. The lease includes essential restaurant equipment such as a grease trap, hood system, and walk-in cooler. Significant upgrades include a new HVAC system, electrical work, and plumbing. Parking is available via street parking. The building is equipped with elevators for convenient access to all four floors. Multiple tenant options exist, making this property suitable for a variety of uses including a restaurant, bar, nightclub, speakeasy, concert venue, or retail establishment. Its prime downtown location offers unparalleled access to high foot traffic, placing it within close proximity to the Convention Center, Lucas Oil Stadium, Indianapolis Zoo, White River State Park (Miles Square), Victory Field, and a dense concentration of hotels and hospitality businesses. This location is situated in a high-traffic walking district brimming with shopping, entertainment, and dining options. The APN is 1090352.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $2,601,440
    Hospitality
    $2,382,905
    Educational
    $1,982,549
    Medical
    $2,050,732
    Retail
    $3,083,965
247 Meridian St, Indianapolis, Indiana

Location Insight

City
Indianapolis
County
Marion
State
Indiana
Latitude
39.763
Longitude
-86.1577
CBSA code
26900
CBSA name
INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$23,136
$519,800
$314,300
$834,100
-
$519,800
$314,300
$834,100

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