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    1132 16Th St Indianapolis, IN 46202

    Sponsored
    For Sale
    $495,000

    1,536 SF Restaurant, Monon 16 District

    Property size:
    1,536 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1,536-square-foot vacant restaurant space, located at 1132 E. 16th Street in Indianapolis, Indiana, presents a unique redevelopment opportunity. Situated on a sizable 11,299-square-foot lot (approximately 1/4 acre) in the vibrant Monon 16 district, this property benefits from its proximity to the Monon Trail and the recently completed $20 million Monon Lofts development. The property is zoned C5, offering flexibility for various uses including restaurant, retail, automotive, or residential redevelopment. Its location on a "transportationally significant thoroughfare," as designated by the Indianapolis Department of Metropolitan Development (DMD), allows for less stringent parking requirements. Adding to its potential, an adjacent 1,836-square-foot parcel is available for purchase, creating the possibility of expanding the footprint to up to 3,000 square feet. The current owner is open to build-to-suit options for qualified operators and projects, offering long-term lease opportunities with build-to-suit credit. The property's APN is 49-07-31-213-359.000-101. This is a rare chance to acquire a prime piece of real estate in a rapidly growing area of Indianapolis. The asking price is $495,000.

    Property Features for 1132 16Th St

    General Information

    Property type
    Restaurants
    Square Feet
    1,536 SF
    Lot Size
    492,184,440 SF

    HighLights

    • 1,536‑square‑foot vacant restaurant space in Indianapolis' Monon 16 district.
    • Located on a 11,299‑square‑foot lot (approx. 1/4 acre) near the Monon Trail and Monon Lofts.
    • C5 zoning allows for flexible uses including restaurant, retail, automotive, or residential.
    • Transportationally significant location offers reduced parking requirements.
    • Adjacent 1,836‑square‑foot parcel available for purchase, allowing expansion to 3,000 square feet.
    • Owner offers build‑to‑suit options with long‑term lease opportunities and build‑to‑suit credit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.138480897212
    Latitude
    39.788495248199

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    FAQs

    What type of property is this?
    Restaurant - 1,536 SF Restaurant, Monon 16 District
    Where is this restaurant located?
    The property is located at 1132 16Th St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: 1,536-square-foot vacant restaurant space in Indianapolis' Monon 16 district.; Located on a 11,299-square-foot lot (approx. 1/4 acre) near the Monon Trail and Monon Lofts.; C5 zoning allows for flexible uses including restaurant, retail, automotive, or residential.
    Request Owner's contact information
    1132 16Th St Indianapolis, IN 46202
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    Indianapolis, IN 46202
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1132 16Th St Indianapolis, IN 46202
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