Renovated Mixed-Use
For Sale
Contact for pricing
7601 Michigan Road, Indianapolis, IN 46268
A refreshed interior and exterior provide a flexible setting along a main road.
Property Size1,708 SF
Price / SF$1.05
Days on Market73
Property Features for 7601 Michigan Road
General Information
Standard status
Active
Size
1,708 SF
Property subtype
Mixed Use
Site & Location
Neighborhood
Crooked Creek
Road Access
Yes
Additional Details
Condition
Newly Renovated
Building Details
Year Built
1900
Listing Agency:
eXp Realty, LLC
Listed By:
LockStep Realty · License #RB14011350
(317) 218-9625
Source:
Locksteprealty
Added: Aug 18
Changed: Oct 28
Last Checked: Oct 28 at 1:26PM
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 eXp Realty, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,708-square-foot mixed-use property has a flexible floor plan and renovated interior and exterior. The building was constructed in 1900 and is located at 7601 Michigan Road in Indianapolis.
Key Highlights
- 1,708 square feet
- Interior and exterior renovations completed
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,379
Suggested Prices Based on Cap Rates
Cap Rate 5%
$367,580
$367.6K
Cap Rate 7%
$262,557
$262.6K
Cap Rate 9%
$204,211
$204.2K
Market Conditions
NOI Build-Up for 1,708 SF
Gross rent
$28.7K $16.80/SF
− Vacancy
−$2.4K −$1.43/SF
EGI
$26.3K $15.37/SF
− OpEx
−$7.9K −$4.61/SF
NOI
$18.4K $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%
$367,580
Cap Rate 7%
$262,557
Cap Rate 9%
$204,211
Alternative Uses
Best Use
Mixed Use
$296.5K
$259.4K – $345.9K
NOI $20,752 @ 7.0% cap · market cap 1,152.89%
Second Best
Retail
$262.6K
$229.7K – $306.3K
NOI $18,379 @ 7.0% cap · market cap 1,021.06%
Theoretical Best
Office A
$425.1K
$372.0K – $496.0K
NOI $29,760 @ 7.0% cap · market cap 1,653.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
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
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - A refreshed interior and exterior provide a flexible setting along a main road.
Where is this mixed-use property located?
The property is located at 7601 Michigan Road Indianapolis, IN.
What are key features of this property?
This property features: 1,708 square feet; Interior and exterior renovations completed; Built in 1900
