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    1175 16Th St Indianapolis, IN 46202

    Sponsored
    For Sale
    $1,895,000

    15,900 SF Industrial Flex Space, $1.895M

    Property size:
    15,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 15,900-square-foot industrial flex space, located at 1175 W 16th St in Indianapolis, Indiana, presents a unique redevelopment opportunity. Priced at $1,895,000 ($119.18/sq ft), this property boasts a prime location directly adjacent to the burgeoning 16 Tech Innovation District. Built in 1947, the building features an open floor plan showcasing exposed brick walls, adding character and potential for creative design. The property is zoned C3, allowing for a wide range of potential uses, making it ideal for adaptive reuse. Five dock-high doors provide excellent access for loading and unloading. The property is immediately available and benefits from heavy traffic flow, making it highly visible and accessible. Its proximity to downtown hospitals and IUPUI further enhances its appeal. The neighboring property's recent transformation into attractive office space serves as a compelling example of the redevelopment potential this site offers. This is a rare chance to acquire a substantial property in a rapidly developing area with significant upside. The Net Lease (NNN) structure offers flexibility for the buyer. The property's 15,900 square feet of net rentable space provides ample room for various business ventures. This is an investment opportunity not to be missed.

    Property Features for 1175 16Th St

    General Information

    Property type
    Flex space
    Square Feet
    15,900 SF

    Building Details

    Year Built
    1947

    HighLights

    • High traffic flow.
    • Immediate availability.
    • Open floor plan with exposed brick walls.
    • Prime location at the entrance to the 16 Tech Innovation District.
    • Close proximity to downtown hospitals and IUPUI.
    Property Profile Location Intelligence

    Current Use by Public Records

    Granite Depot of Indianapolis Countertop Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1823677
    Latitude
    39.7882771

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    FAQs

    What type of property is this?
    Flex space - 15,900 SF Industrial Flex Space, $1.895M
    Where is this flex space located?
    The property is located at 1175 16Th St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $1,895,000.
    What are key features of this property?
    This property features: High traffic flow.; Immediate availability.; Open floor plan with exposed brick walls.
    Request Owner's contact information
    1175 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
    1175 16Th St Indianapolis, IN 46202
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