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    1422 Astor St Indianapolis, IN 46222

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    For Sale
    Contact for pricing

    Prime Indianapolis student housing site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3.2-acre site in Indianapolis, IN, presents a remarkable redevelopment opportunity. Located at 1422 Astor Street, near the White River Parkway, it boasts spectacular views of downtown Indianapolis and the White River. Its strategic location across from IUPUI campus, Eskenazi Hospital, and Riley Children's Hospital, and blocks from the Indianapolis Zoo and White River Gardens, ensures high demand. The property, designated APN 49-11-03-173-004.000-101, is zoned for multi-family development, making it ideal for student housing or a hotel. The site's proximity to public transportation, shopping, and entertainment venues, coupled with ongoing city infrastructure improvements and revitalization efforts, promises strong returns. This mixed-use property presents a unique chance to capitalize on Indianapolis's thriving real estate market and contribute to its continued growth. The substantial lot size allows for significant development potential, catering to the increasing need for modern housing in this vibrant area. This is a truly exceptional investment opportunity in a rapidly developing part of the city. All information is deemed reliable but not guaranteed.

    Property Features for 1422 Astor St

    General Information

    Property type
    Multifamily properties
    Lot Size
    139,392 SF

    HighLights

    • 3.2‑acre multi‑family development site in Indianapolis, IN.
    • Located at 1422 Astor Street, near White River Parkway, IUPUI, Eskenazi Hospital, and Riley Children's Hospital.
    • Zoned for multi‑family use, ideal for student housing or a hotel.
    • Excellent location offers spectacular downtown views and proximity to public transportation, shopping, and entertainment.
    • Strong potential for high returns due to ongoing city infrastructure improvements and revitalization efforts.
    Property Profile Location Intelligence

    Current Use by Public Records

    White River Scenic ... Park

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Building Supply Dental Office 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
    -86.186119
    Latitude
    39.770305

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    FAQs

    What type of property is this?
    Multifamily property - Prime Indianapolis student housing site
    Where is this multifamily property located?
    The property is located at 1422 Astor St Indianapolis, IN.
    What are key features of this property?
    This property features: 3.2-acre multi-family development site in Indianapolis, IN.; Located at 1422 Astor Street, near White River Parkway, IUPUI, Eskenazi Hospital, and Riley Children's Hospital.; Zoned for multi-family use, ideal for student housing or a hotel.
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    Indianapolis, IN 46222
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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
    1422 Astor St Indianapolis, IN 46222
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