3520 Washington BlvdIndianapolis, IN 46205

Property Details for 3520 Washington Blvd

Year built

1962

Construction

TYPE NOT SPECIFIED

Lot size

0.82 AC

Property size (Sq ft)

7,905 SF

Zone code

ZO01

Property type

Office properties

APN

49-06-24-164-034.000-101

APU

490624164034000101

Description

This exceptional 6,000 square foot office building at 3520 Washington Boulevard in Indianapolis, Indiana presents a unique investment opportunity. Situated on a 0.82-acre lot in the desirable Midtown area, this single-story brick building boasts distinctive architecture and a convenient location. The interior currently features a mix of large and small offices, as well as open workspaces, offering flexibility for a variety of business needs. The layout is easily adaptable to suit specific requirements. Beyond the main 6,000 square feet, an additional 2,000 square feet of unfinished basement space provides potential for expansion or valuable on-site storage. The property includes a fenced parking area accommodating approximately 15 vehicles, supplemented by readily available street parking. Public transportation is also easily accessible via a nearby bus line. The building's history includes successful tenancies by both an engineering firm and a law practice, demonstrating its suitability for a range of professional uses. Currently occupied under a lease expiring April 30th, 2025, this property offers a strong investment potential with a clear path to future occupancy and income generation. The building is well-maintained and presents a solid opportunity for a discerning buyer.

• CAP approach

  CAP return

  Valuation

  6%

  $1,072,327

  6.5%

  $989,840

  7%

  $919,138

• Comparable approach

  Method

  Valuation

  Relative Method

  $807,078

  Geo Method

  $807,078

• Alternative Use

  Use

  Valuation

  Residential

  $1,227,402

  Hospitality

  $1,124,294

  Educational

  $935,399

  Medical

  $967,569

  Retail

  $1,455,065

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.8197

Longitude

-86.1528

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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