Storefront with Barber Shop
New
For Sale
$160,000
3324 N Illinois Street, Indianapolis, IN 46208
Currently used for barber and beauty services, the property carries C-4 zoning.
Property Size1,148 SF
Days on Market7
Property Features for 3324 N Illinois Street
General Information
Standard status
Active
Size
1,148 SF
Property subtype
Business Opportunity
Zoning
C-4
Property Condition
Severity
Major Repairs Needed
Evidence
substantial repairs and improvements needed
Amenities
Gravel
Building Details
Building Size
1,148 SF
Year Built
1920
Stories
2
Listing Agency:
Next Place Realty
Listed By:
Terri Davis · License #MBR50639
Source:
Evrealestate
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 12 at 6:45PM
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 Next Place Realty
Investment Insights
Based on property information with market context.
At 3324 N Illinois Street, this storefront property is currently used for barber and beauty services. The building dates to 1920 and was originally configured as a two-bedroom, one-bath residence. C-4 zoning applies.
The sale conveys the real estate only; the operating business, equipment, furnishings, and trade fixtures are excluded. The property is offered in its present condition, with substantial repair and improvement work needed. Remaining contents and debris unrelated to the business will also transfer with the property.
The sale conveys the real estate only; the operating business, equipment, furnishings, and trade fixtures are excluded. The property is offered in its present condition, with substantial repair and improvement work needed. Remaining contents and debris unrelated to the business will also transfer with the property.
Key Highlights
- C‑4 zoning
- Currently used for barber and beauty services
- Built in 1920; originally a 2‑bedroom, 1‑bath residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,353
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,060
$247.1K
Cap Rate 7%
$176,471
$176.5K
Cap Rate 9%
$137,256
$137.3K
Market Conditions
NOI Build-Up for 1,148 SF
Gross rent
$19.3K $16.80/SF
− Vacancy
−$1.6K −$1.43/SF
EGI
$17.6K $15.37/SF
− OpEx
−$5.3K −$4.61/SF
NOI
$12.4K $10.76/SF
Area
Indianapolis, IN
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$247,060
Cap Rate 7%
$176,471
Cap Rate 9%
$137,256
Alternative Uses
Best Use
Retail
$176.5K
$154.4K – $205.9K
NOI $12,353 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$285.8K
$250.0K – $333.4K
NOI $20,003 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46208, IN
23,996
Population
11,619
Households
2.1
Avg Household Size
31
Median Age
40%
College-Educated
93%
High-School Grad
6.9 sq mi
ZIP Area
3,478
Density / Sq Mi
$55,435
Median Household Income
$34,125
Median Earnings
$1,075
Median Rent
$206,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Indianapolis, IN
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Similar Off Market Nearby
- Crossroads Floral Delivery — 326 W 30th St, Indianapolis, IN 46208
Frequently Asked Questions
What type of property is this?
Storefront property - Currently used for barber and beauty services, the property carries C-4 zoning.
Where is this storefront property located?
The property is located at 3324 N Illinois Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: C‑4 zoning; Currently used for barber and beauty services; Built in 1920; originally a 2‑bedroom, 1‑bath residence
