3340 Shelby StIndianapolis, IN 46227

Property Details for 3340 Shelby St

Year built

1952

Construction

TYPE NOT SPECIFIED

Lot size

6.52 AC

Property size (Sq ft)

15,200 SF

Zone code

ZO01

Property type

Truck terminals

APN

49-11-25-105-019.000-500

APU

491125105019000500

Description

This exceptional industrial property, located at 3340 Shelby St, Indianapolis, IN 46227, presents a unique opportunity. The 7,465 square foot building sits on a fully paved 6.57-acre lot, offering ample space for truck terminal operations. Built in 1952 and extensively renovated in 2023, the single-story structure boasts a functional layout. Approximately 3,694 square feet are dedicated to office space, featuring a welcoming lobby, five private offices, three bathrooms, and a driver's lounge. The remaining 3,771 square feet comprises warehouse space, equipped with three existing 9'x9' dock doors, with the potential to add eleven more. The high ceilings, ranging from 11.5' to 13', provide excellent vertical clearance. The property's I-3 zoning ensures flexibility for various industrial uses. Its strategic location, just 1.5 miles from both I-465 and I-65, provides easy access to major transportation arteries and is only a few miles from downtown Indianapolis. The $16,000 per month NNN lease makes this a compelling investment. This fully paved lot offers significant potential for a variety of businesses seeking a well-maintained and conveniently located industrial space.

• CAP approach

  CAP return

  Valuation

  6%

  $4,737,210

  6.5%

  $4,372,810

  7%

  $4,060,470

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,286,410

  Geo Method

  $2,286,410

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $2,181,950

  Mixed-Use / Specialty

  $2,126,580

  Hospitality / Lodging

  $1,498,230

  Office

  $2,064,370

  Institutional / Educational

  $2,193,770

  Residential Income

  $2,566,710

  Multifamily

  $3,342,250

  Automotive / Energy

  $1,880,380

  Parking / Income-Based Land

  $695,920

  Restaurant / Food Service

  $1,004,470

  Healthcare / Senior Housing

  $2,229,580

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7172

Longitude

-86.1413

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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