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    1202 Pennsylvania St Indianapolis, IN 46202

    Sponsored
    For Sale
    $880,000

    1,750 SF Office, $880K, C-4 Zoning

    Property size:
    1,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1,750 square foot office building, located at 1202 N. Pennsylvania Street in Indianapolis, Indiana, presents a unique investment opportunity. Situated on a 5,502 square foot lot, this single-story building is zoned C-4, allowing for versatile usage as medical, traditional office, or even retail space. The property's strategic location offers significant advantages. It benefits from proximity to the massive $4.3 billion IU Health expansion and consolidation project, spanning from 16th to 12th Street, encompassing 44 acres and impacting University/Methodist Hospitals and medical services. Furthermore, its short distance to the IUPUI campus (with over 20,500 students) provides a substantial pool of potential clientele. The surrounding area is experiencing a positive downtown housing market boom, featuring luxury and contemporary residential developments. The property's location within walkable neighborhoods and near Mass Ave adds to its appeal. Finally, the building enjoys excellent interstate exposure, ensuring high visibility and accessibility. This property is priced at $880,000 and represents a compelling investment in a rapidly growing and dynamic area of Indianapolis. The property's zoning and location make it ideal for a variety of uses, offering significant potential for return on investment.

    Property Features for 1202 Pennsylvania St

    General Information

    Property type
    Medical offices
    Square Feet
    1,750 SF

    Building Details

    Stories
    1

    HighLights

    • 1,750 SF office building on a 5,502 SF lot, zoned C‑4 for medical, office, or retail use.
    • Proximity to the $4.3B IU Health expansion project (44 acres, 12th‑16th Streets).
    • Short distance to IUPUI campus (20,500 students).
    • Located in a booming downtown area with luxury residential development.
    • In walkable neighborhoods near Mass Ave.
    • Excellent interstate visibility and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sox Social Services Organization

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness 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
    -86.1560393
    Latitude
    39.7834932

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    FAQs

    What type of property is this?
    Medical office - 1,750 SF Office, $880K, C-4 Zoning
    Where is this medical office located?
    The property is located at 1202 Pennsylvania St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $880,000.
    What are key features of this property?
    This property features: 1,750 SF office building on a 5,502 SF lot, zoned C-4 for medical, office, or retail use.; Proximity to the $4.3B IU Health expansion project (44 acres, 12th-16th Streets).; Short distance to IUPUI campus (20,500 students).
    Request Owner's contact information
    1202 Pennsylvania 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
    1202 Pennsylvania St Indianapolis, IN 46202
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