Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    3003 Kentucky Ave Indianapolis, IN 46221

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $400,000

    Corner lot with visibility, access, and redevelopment potential.

    Building Details

    Year built
    1957

    We can help!

    Listing Contact
    Nathan Smith
    Source: Bradleyco

    Listing Agent: Nathan Smith

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Former Bank Branch with Redevelopment

    This property is a former bank branch situated on a corner lot, offering visibility and access along Kentucky Avenue. It is suitable for a variety of uses. The property includes a 0.36-acre paved lot on the east side of 4th Street, providing additional parking and redevelopment potential. There are two dedicated parking lots with a combined total of 44 spaces. The building features three drive-thru lanes. Constructed in 1957, the property is zoned C-5, General Commercial District. The location is near the southwest I-70/I-465 interchange, and it is less than 15 minutes from both the Indianapolis International Airport and downtown Indianapolis.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    PNC Bank Bank PNC ATM Atm

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.225435
    Latitude
    39.720002

    Nearby Similar for Sale

    • $543,000
      0.15 Acres

      High-End Rebuilt Duplex in Indianapolis

      Fully furnished duplex with excellent rental history and modern amenities.
      606/608 N Emerson Ave, Indianapolis, IN 46219
      View Details
    • New
      $1,300,000
      Pending

      Indianapolis Multi-Family Investment Opportunity

      17-unit rental portfolio near I-465 with diverse unit types.
      3805 Biscayne Rd, Indianapolis, IN 46226
      View Details
    • $415,000
      0.14 Acres

      Indianapolis Duplex with Modern Updates

      Turnkey duplex in downtown Indianapolis, featuring modern updates and strong rental income.
      1036 N Parker Ave, Indianapolis, IN 46201
      View Details
    • $719,800
      0.26 Acres

      New Construction Duplex Near Monon

      New construction duplex near Monon offering urban living and investment potential.
      2051-2053 Columbia Ave, Indianapolis, IN 46202
      View Details
    • $290,000
      Pending

      Indianapolis Duplex in Englewood Neighborhood

      Investment or owner-occupancy opportunity in thriving Englewood neighborhood.
      233 N Oxford St, Indianapolis, IN 46201
      View Details
    • $425,000
      2,156 SF

      Indianapolis Mixed-Use Property with Daycare

      Two-bedroom home with daycare business opportunity on a large lot.
      839 S Lynhurst Dr, Indianapolis, IN 46241
      View Details
    • $205,000
      Pending

      Indianapolis Duplex Near Eastside

      3-bedroom, 1-bath duplex near downtown Indianapolis.
      1018 N Tuxedo St, Indianapolis, IN 46201
      View Details
    • $375,000
      0.13 Acres

      Updated Duplex Near Monon Trail

      Renovated duplex near Monon Trail, ideal for investors.
      2321 Guilford Ave, Indianapolis, IN 46205
      View Details
    • $395,000
      0.14 Acres

      Charming Triplex with Cashflow Potential

      Well-maintained triplex with historical charm, ideal for investment or owner-occupancy.
      1102 N Oakland Ave, Indianapolis, IN 46201
      View Details
    • $429,000
      0.16 Acres

      Broad Ripple Multifamily Investment Opportunity

      Four-unit property near Monon Trail and Broad Ripple Avenue.
      5917 Carrollton Ave, Indianapolis, IN 46220
      View Details
    • $224,000
      0.15 Acres

      Turnkey Duplex Close to Downtown

      Updated duplex near downtown Indianapolis, ready for immediate occupancy.
      1020-1022 N Rural St, Indianapolis, IN 46201
      View Details
    • $649,900
      0.16 Acres

      Remodeled Duplex in Fountain Square

      Move-in ready duplex near downtown Indianapolis with dedicated garage spaces.
      1622-1624 Prospect St, Indianapolis, IN 46203
      View Details

    FAQs

    What type of property is this?
    Bank - Corner lot with visibility, access, and redevelopment potential.
    Where is this bank located?
    The property is located at 3003 Kentucky Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: - High-visibility corner lot on Kentucky Avenue suitable for various uses.; - Includes a 0.36-acre paved lot for additional parking or redevelopment.; - Convenient location near I-70/I-465 interchange, airport, and downtown Indianapolis.
    (317) 525-2130
    Request Owner's contact information
    3003 Kentucky Ave Indianapolis, IN 46221
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3003 Kentucky Ave
    Indianapolis, IN 46221
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3003 Kentucky Ave Indianapolis, IN 46221
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Nathan Smith
    (317) 525-2130
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.