1520 Riverside DrIndianapolis, IN 46202

Property Details for 1520 Riverside Dr

Year built

1958

Construction

TYPE NOT SPECIFIED

Lot size

0.42 AC

Property size (Sq ft)

9,808 SF

Property type

Office properties

APN

49-06-34-123-021.000-101

APU

490634123021000101

Description

This 9,000 square foot, two-story office building presents a unique owner-occupant opportunity. Constructed in 1965, the property boasts a desirable location near the 16 Tech innovation district in Indianapolis, Indiana. Situated on a 0.94-acre lot, the building features excellent visibility and accessibility, with existing pylon signage along 16th Street, including electronic messaging capabilities. The property benefits from easy ingress and egress via a signalized intersection at 16th Street and Riverside Drive, and is conveniently located on an IndyGo bus route (lines 15, 25, and 30). The building is classified as Class C and is zoned C-5. The property's address is 1520 E Riverside Dr, Indianapolis, IN 46202 (APN: 49-06-34-123-021.000-101, 49-06-34-123-020.000-101). Furthermore, this location is within an Opportunity Zone, offering potential tax advantages. The building is well-maintained and offers a total of 9,000 square feet of net rentable space. This presents a compelling opportunity for businesses seeking a strategically located and functional office space.

• CAP approach

  CAP return

  Valuation

  6%

  $1,273,484

  6.5%

  $1,175,524

  7%

  $1,091,558

• Comparable approach

  Method

  Valuation

  Relative Method

  $922,337

  Geo Method

  $922,337

• Alternative Use

  Use

  Valuation

  Residential

  $1,457,650

  Hospitality

  $1,335,199

  Educational

  $1,110,870

  Medical

  $1,149,075

  Retail

  $1,728,020

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7885

Longitude

-86.1914

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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