7115 Michigan RdIndianapolis, IN 46268

Property Details for 7115 Michigan Rd

Year built

1959

Construction

TYPE NOT SPECIFIED

Lot size

7.53 AC

Property size (Sq ft)

71,534 SF

Zone code

ZO01

Property type

Strip malls

Property subtype

Neighborhood centers

APN

49-03-29-118-003.000-600

APU

490329118003000600

Description

Westlane Shopping Center, located at 7115 Michigan Road in Indianapolis, Indiana, presents a prime retail opportunity. This neighborhood center boasts a total of 17,900 square feet of retail space, situated at the busy intersection of Westlane Road and Michigan Road in Marion County. Currently, there are multiple spaces available, ranging from a minimum of 900 square feet to a maximum contiguous space of 17,000 square feet. A significant 19,500 square feet is currently vacant, offering substantial potential for expansion or multiple tenant occupancy. The property's "foot anchor" subtype suggests a strong foundation for attracting a diverse range of businesses. The convenient location and high visibility make this an ideal space for retailers seeking to establish or expand their presence in a thriving Indianapolis neighborhood. The zip code is 46268. This property offers a unique chance to secure a prominent retail space in a busy commercial area. The flexibility in space size allows for customization to suit various business needs. Interested parties are encouraged to inquire about available space and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $13,666,381

  6.5%

  $12,615,121

  7%

  $11,714,041

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,980,892

  Geo Method

  $16,980,892

• Alternative Use

  Use

  Valuation

  Residential

  $10,641,327

  Hospitality

  $9,747,398

  Educational

  $8,109,720

  Medical

  $8,388,626

  Retail

  $12,615,121

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8841

Longitude

-86.2085

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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