Mixed-Use Property Near Greenwood Mall

7110 Madison Avenue Indianapolis, IN 46227

Claim this Listing
For Sale
$270,000

Two buildings on 0.64 acres with C3 zoning.

Type:Mixed Use
Property size:
1,300 SF
Lot size:
0.64 Acres
Price / SF:
$207/SF
Added:
Oct 29, 2024
Days on Market:
622
Last Refresh:
Jun 29 at 4:24 pm

Property Features for 7110 Madison Avenue

General Information

Standard status
Active
Size
1,300 SF
Lot size
0.64 Acres
Property subtype
Mixed Use

Building Details

Year Built
1930

Listing office

Listing date Oct 29, 2024

Source Xome

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 Wemy Realtor


Investment Insights

Based on property information with market context.

This mixed-use property features two buildings situated on 0.64 acres. The property is zoned C3 and is located in a commercial area on the south side of Indianapolis, offering a potential investment opportunity. The location provides convenient access to Greenwood Park Mall, various retail stores, and restaurants. Additionally, the property is approximately a 15-minute drive from downtown Indianapolis and offers easy access to I-65 and I-465. The property size is 1300 square feet.

Key Highlights

  • C3 Zoning: Ideal for a wide range of commercial ventures.
  • Prime Location: Situated in a high‑traffic area near Greenwood Park Mall, retail stores, and restaurants.
  • Excellent Accessibility: Easy access to I‑65 and I‑465.

Local Financial Insights For Mixed Use

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 $28.1k $21.60
− Vacancy −$3.4k −$2.59
EGI $24.7k $19.01
− OpEx −$9.3k −$7.13
NOI $15.4k $11.88
1,300 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 37.50%

Alternative Uses

Best Use
Mixed Use
$220.6K
$193.1K – $257.4K (±1% cap)
NOI $15,444 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$323.0K
$282.7K – $376.9K (±1% cap)
NOI $22,613 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Mixed-use properties

Suggested Use

Real Estate Agency Building Supply Big Box & Wholesale Store Law Firm HVAC Service Auto Parts Store Dental Office Gym & Fitness Center Skin Care Clinic Electrical Service

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

FAQs

What type of property is this?
Mixed-use property - Two buildings on 0.64 acres with C3 zoning.
Where is this mixed-use property located?
The property is located at 7110 Madison Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: C3 Zoning: Ideal for a wide range of commercial ventures.; Prime Location: Situated in a high‑traffic area near Greenwood Park Mall, retail stores, and restaurants.; Excellent Accessibility: Easy access to I‑65 and I‑465.
Contact an agent
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