Retail Strip Mall For
3661 W 86th St Indianapolis, IN 46268
3661 W 86th St, Indianapolis, IN, 46268
$3,900,000
For Sale
$3,900,000
Retail strip mall available for sale on W 86th St in Indianapolis, Indiana.
Property Size19,676 SF
Price / SF$198.21
Days on Market111
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 Updated: Jul 22 at 2:47PM Checked: Jul 22 at 2:47PM
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%
Local 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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Illusions Bar & Grill
Bar & Pub
Similar For Sale Nearby
FAQs
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%
