Retail Strip Mall For
For Sale
$3,900,000
3661 W 86th St, Indianapolis, IN 46268
Retail strip mall available for sale on W 86th St in Indianapolis, Indiana.
Property Size19,676 SF
Price / SF$198.21
Days on Market121
Property Features for 3661 W 86th St
General Information
Standard status
Active
Size
19,676 SF
Property subtype
Shopping Strip
Building Details
Year Built
1984
Listing Agency:
Cleveland Office
(216) 264-2043
Listed By:
Craig Fuller · License #OH: SAL.2008001551
(216) 264-2043
Source:
Marcusmillichap
Added: Apr 3
Changed: Jul 22
Last Checked: Jul 23 at 2:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cleveland Office
Investment Insights
Based on property information with market context.
College Park Place is a retail strip mall offered for sale in Indianapolis, Indiana.
The property is located at 3661 W 86th St and totals 19,676 square feet. It is being marketed for $3,900,000, and the public remarks reference a projected 8.00% (as stated in the listing information).
The property is located at 3661 W 86th St and totals 19,676 square feet. It is being marketed for $3,900,000, and the public remarks reference a projected 8.00% (as stated in the listing information).
Key Highlights
- Retail strip mall for sale on W 86th St in Indianapolis, IN
- Year built: 1984
- Public remarks note 8.00%
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $330.6k | $16.80 |
| − Vacancy | −$28.1k | −$1.43 |
| EGI | $302.5k | $15.37 |
| − OpEx | −$90.7k | −$4.61 |
| NOI | $211.7k | $10.76 |
19,676 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.02M
$2.65M – $3.53M
NOI $211,722 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.90M
$4.29M – $5.71M
NOI $342,835 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,407
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 100%
Comfort Inn & Suites North at the Pyramids
Hotels & Casinos
1,386 visits/mo
0.5 miles
Extended Stay America - Indianapolis - Northwest - College Parks
Hotels & Casinos
586 visits/mo
0.4 miles
Demographics for 46268, IN
26,353
Population
11,904
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
12.7 sq mi
ZIP Area
2,075
Density / Sq Mi
$63,322
Median Household Income
$41,596
Median Earnings
$1,171
Median Rent
$208,500
Median Home Value
Market
Vacancy Rate% for Retail in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip mall available for sale on W 86th St in Indianapolis, Indiana.
Where is this strip mall located?
The property is located at 3661 W 86th St Indianapolis, IN.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Retail strip mall for sale on W 86th St in Indianapolis, IN; Year built: 1984; Public remarks note 8.00%
