8760 Michigan RdIndianapolis, IN 46268

Property Details for 8760 Michigan Rd

Year built

2007

Construction

TYPE NOT SPECIFIED

Lot size

0.89 AC

Property size (Sq ft)

8,400 SF

Zone code

ZO01

Property type

Strip malls

Property subtype

Neighborhood centers

APN

49-03-18-106-024.003-600

APU

490318106024003600

Description

This exceptional 2,798 square foot retail space is located in the thriving Michigan Road Shoppes, a highly visible shopping center in Marion County. Previously a restaurant, the property boasts existing fixtures, furniture, and equipment (FF&E), and includes a patio area and a potential pick-up window. The space benefits from an endcap location with access to a pylon sign, ensuring maximum brand exposure. The shopping center enjoys strong co-tenancy with established businesses such as Verizon and Panda Express, and is anchored by major retailers including Costco, a newer Crunch Fitness, and Harbor Freight. The strategic location provides excellent access to Michigan Road (46,020 vehicles per day), with a stoplight and a second full access point. Additional access points are available via 86th Street (35,142 vehicles per day). The property's proximity to I-465 (138,978 vehicles per day) further enhances its accessibility. A significant daytime population is guaranteed by nearby office complexes like College Park and Park 100. The area also boasts a wealth of nearby amenities, including Trader Joe's, Walmart, Target, Kroger, and Lowe's, creating a robust customer base. This turnkey opportunity is ideal for a variety of retail concepts.

• CAP approach

  CAP return

  Valuation

  6%

  $1,604,940

  6.5%

  $1,481,483

  7%

  $1,375,662

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,994,327

  Geo Method

  $1,994,327

• Alternative Use

  Use

  Valuation

  Residential

  $1,249,686

  Hospitality

  $1,144,706

  Educational

  $952,382

  Medical

  $985,136

  Retail

  $1,481,483

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.9143

Longitude

-86.2245

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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