Property profile

3023 W Morris St Indianapolis, IN 46241

FOR SALE
Commercial real estate
Property ID
US31-0531464
1,250 SF 0.33 ac lot Built 1953
Entity Owned 6-yr Hold Free & Clear
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional 80-acre industrial site presents a unique investment opportunity in Indianapolis, Indiana. Located at 3023 W Morris Street, Marion County, zip code 46241, this urban infill property offers significant development potential. The land is comprised of two distinct zoning classifications: 65 acres zoned I-3 and 15 acres zoned D-11. The asking price is $8,000,000 per acre. Strategically positioned for easy access to three interchanges and within three miles of downtown Indianapolis and I-465, this location provides unparalleled connectivity. The property boasts three points of access, enhancing logistical efficiency. Importantly, this site is situated within a Qualified Opportunity Zone, offering potential tax advantages for investors. While a 100-foot buffer zone is required for abutting residential areas, the substantial acreage allows for ample development possibilities. This is a rare opportunity to acquire a large, well-located industrial parcel in a thriving urban market. The property's size, zoning, and accessibility make it ideal for a variety of industrial uses. Contact us today to learn more about this exceptional investment opportunity.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1953
Construction TYPE NOT SPECIFIED
Total area 1,250 SF
Lot 0.33 ac (14,375 SF)
APN 49-11-16-124-006.000-900
UPID US31-0531464

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

3023 W Morris St Indianapolis, IN 46241
Indianapolis metro Census 342400 INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$130k

Owner & transaction history

since 2020
1 recorded transaction
2020
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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