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    3605 Kentucky Ave Indianapolis, IN 46221

    Sponsored
    For Sale
    $675,000

    Former Rally's, Double Drive-Thru, 789 SF

    Property size:
    789 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 789-square-foot retail property, formerly a Rally's Hamburgers, presents a unique investment opportunity in Indianapolis, Indiana. Located at 3605 Kentucky Avenue, in Marion County, zip code 46221, this property sits on a sizable 20,910-square-foot lot. Built in 1994, the building is ideally suited for a quick-service restaurant, ghost kitchen, or similar concept. The asking price is $675,000, translating to $855.51 per square foot. A significant advantage is the existing double drive-thru, a highly desirable feature for fast-food operations. The property's existing kitchen infrastructure remains intact, including a functional hood system and walk-in coolers. This presents a cost-saving opportunity for potential buyers or lessees, minimizing initial build-out expenses. The location is situated within a neighborhood experiencing redevelopment, suggesting strong potential for future growth and increased property value. This is an owner/user investment opportunity with significant upside potential in a dynamic Indianapolis market. The property's size and features make it an attractive option for a variety of food service businesses seeking a turnkey operation or a strategic location for expansion.

    Property Features for 3605 Kentucky Ave

    General Information

    Property type
    Restaurants
    Square Feet
    789 SF

    Building Details

    Year Built
    1994
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.239499281666
    Latitude
    39.713627374687

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    FAQs

    What type of property is this?
    Restaurant - Former Rally's, Double Drive-Thru, 789 SF
    Where is this restaurant located?
    The property is located at 3605 Kentucky Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $675,000.
    Request Owner's contact information
    3605 Kentucky Ave Indianapolis, IN 46221
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    Indianapolis, IN 46221
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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
    3605 Kentucky Ave Indianapolis, IN 46221
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