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    1800 Meridian St Indianapolis, IN 46202

    Sponsored
    For Sale
    $6,900,000

    Prime Indy location, mixed-use potential.

    Property size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional value-add investment opportunity encompasses two buildings totaling 84,000 square feet situated on a 1.57-acre lot in Indianapolis, Indiana. The property, located at 1800 & 1812 N Meridian Street, features a six-story, 72,000 square foot building (1800) and a two-story, 12,000 square foot building (1812), both with significant recent upgrades. Building 1800 boasts a new roof and new air conditioning installed in 2023, along with a lower-level conference center and kitchen. The property includes a parking garage and additional parking lot. The buildings are zoned C-4, offering versatile usage options. This prime location benefits from excellent access to Meridian and 18th Streets, and is conveniently situated on the Red Line Mass Transit route, with a stop directly at the 1800 building. The surrounding area is experiencing significant development, including a $4.3 billion IU Health Hospital expansion, a $65 million mixed-use development across the street, and two large apartment complexes (240 and 279 units) under construction nearby. The property is located within the North Meridian TIF District and a Qualified Opportunity Zone, presenting additional investment incentives. Both buildings and the parking facilities must be purchased together for an asking price of $6,900,000. Built in 1950, this property presents a unique chance to capitalize on a thriving Indianapolis neighborhood.

    Property Features for 1800 Meridian St

    General Information

    Property type
    Multifamily properties
    Square Feet
    12,000 SF
    Class
    B
    Lot Size
    68,389 SF

    Building Details

    Year Built
    1950
    Buildings
    2

    HighLights

    • Two office buildings totaling 84,000 square feet, a parking garage, and a parking lot on a 1.57‑acre site.
    • Excellent Meridian Street location on the Red Line.
    • Easy access from Meridian and 18th Streets.
    • 1800 Building: 72,000 SF, six floors plus basement, new roof, new AC (2023), lower‑level conference center and kitchen.
    • 1812 Building: 12,000 SF, two floors.
    • C4A zoning; Bodner‑built, originally Indiana Bell offices.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bravafi Title Company Boland Enterprises Inc Computer Consultant Stanley Kahn Law ... Attorney Healing Solutions Corporate Office

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon 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
    -86.1578191
    Latitude
    39.7909309

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    FAQs

    What type of property is this?
    Multifamily property - Prime Indy location, mixed-use potential.
    Where is this multifamily property located?
    The property is located at 1800 Meridian St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $6,900,000.
    What are key features of this property?
    This property features: Two office buildings totaling 84,000 square feet, a parking garage, and a parking lot on a 1.57-acre site.; Excellent Meridian Street location on the Red Line.; Easy access from Meridian and 18th Streets.
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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
    1800 Meridian St Indianapolis, IN 46202
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