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    1505 East St Indianapolis, IN 46225

    For Sale
    $1,300,000

    9,200 sq ft, C-1 zoned, prime location.

    Property size:
    9,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional redevelopment opportunity presents a 9,200 square foot mixed-use property situated on a 0.6-acre lot in Indianapolis' vibrant Bates-Hendricks neighborhood. The property, located at 1505 S East Street, boasts 173 feet of East Street frontage, offering excellent visibility and accessibility. Currently zoned C-1, this versatile property allows for a range of uses, making it ideal for residential or mixed-use projects. The building, constructed in 1900 and renovated in 1954, comprises four combined structures and attached garages, providing ample space for creative development. The property includes a dedicated parking lot with over ten spaces and four garage bays. Its strategic location offers easy access to major interstates I-65 and I-70, placing it within a mile of the Eli Lilly & Co. Corporate Campus and the thriving Fountain Square district. This presents a unique chance to capitalize on the area's growth and high demand. The asking price is $1,300,000. The property's APN is 49-11-13-168-027.000-101. This is a vacant, Class B, two-story building with significant potential for a savvy investor.

    Property Features for 1505 East St

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,200 SF
    Class
    B
    Lot Size
    26,136 SF

    Building Details

    Year Built/Renovated
    1900/1954
    Buildings
    1
    Stories
    2

    HighLights

    • 9,200 square feet of usable space.
    • C‑1 zoning.
    • 0.6‑acre lot (25,950 square feet).
    • 173 feet of East Street frontage.
    • Easy access to I‑65 and I‑70.
    • Dedicated parking lot with 10+ spaces and 4 garage bays.
    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 Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1493073
    Latitude
    39.7465766

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    FAQs

    What type of property is this?
    Multifamily property - 9,200 sq ft, C-1 zoned, prime location.
    Where is this multifamily property located?
    The property is located at 1505 East St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: 9,200 square feet of usable space.; C-1 zoning.; 0.6-acre lot (25,950 square feet).
    Request Owner's contact information
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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
    1505 East St Indianapolis, IN 46225
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