16 Pennsylvania StIndianapolis, IN 46204

Property Details for 16 Pennsylvania St

Year built

1964

Construction

WOOD

Lot size

0.03 AC

Property size (Sq ft)

4,200 SF

Zone code

ZO01

Property type

Office properties

APN

49-11-01-240-165.000-101

APU

491101240165000101

Description

This exceptional two-story, +/- 2,300 square foot retail/office building presents a unique opportunity in the heart of Indianapolis' Central Business District. Ideally situated at the high-traffic intersection of Pennsylvania and Washington Streets, just one block from Monument Circle, this property offers unparalleled visibility and accessibility. The building currently features two available suites, each ranging from 1,100 to 1,200 contiguous square feet, perfect for coworking spaces or similar uses. With a total of 2,300 square feet of vacant space, this property is ready for immediate occupancy. Tenants will benefit from convenient access to nearby parking garages, BlueIndy stations, and street parking, ensuring ease of access for employees and clients. Furthermore, its location adjacent to the Cultural Trail and within walking distance of numerous downtown attractions and businesses provides a vibrant and desirable work environment. This is an exceptional opportunity to establish a presence in one of Indianapolis' most sought-after locations. The building's prime location and flexible space make it an ideal choice for businesses seeking a dynamic and convenient workspace. The property is in Marion County.

• CAP approach

  CAP return

  Valuation

  6%

  $569,186

  6.5%

  $525,402

  7%

  $487,873

• Comparable approach

  Method

  Valuation

  Relative Method

  $427,990

  Geo Method

  $427,990

• Alternative Use

  Use

  Valuation

  Residential

  $651,498

  Hospitality

  $596,769

  Educational

  $496,505

  Medical

  $513,580

  Retail

  $772,341

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7675

Longitude

-86.1565

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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