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    3808 Shelby St Indianapolis, IN 46227

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    For Sale
    Contact for pricing

    10,344 SF Multi-Tenant Retail Building

    Property size:
    10,344 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 10,344 square foot, single-story retail building, located at 3808 Shelby St. in Indianapolis, Indiana, presents a compelling investment opportunity. Built in 1954, this Class C property sits on a 1.02-acre lot and features 40 parking spaces, making it highly accessible for customers and employees. Currently housing two tenants, The Wit Theater (home of ComedySportz Indianapolis) and Christel House Academy, the property benefits from a high-traffic location directly across from the University of Indianapolis, a major institution with an enrollment of 5,600 students. The Red Line, a significant public transportation route, runs directly in front of the building, providing convenient access to Broad Ripple and the wider Indianapolis area, enhancing its accessibility and appeal. The property is zoned MU-2, offering flexibility for future uses. This freestanding building offers a unique blend of established tenants and a prime location near a large university, making it an attractive investment prospect with strong potential for future growth and returns. The property's APN is 49-11-25-107-008.000-501. This is a multi-tenant property with a strong tenant base and excellent location. The property's proximity to the University of Indianapolis and the Red Line provides significant advantages.

    Property Features for 3808 Shelby St

    General Information

    Property type
    Retail properties
    Square Feet
    10,344 SF
    Class
    C
    Lot Size
    44,431 SF

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    Bike Parking Bicycle Rack The Wit Theater - Home ... Comedy Club Concealed Coalition Firearms Academy Books & Brews Brewery

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop 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
    -86.139383286562
    Latitude
    39.710118927056

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    FAQs

    What type of property is this?
    Retail property - 10,344 SF Multi-Tenant Retail Building
    Where is this retail property located?
    The property is located at 3808 Shelby St Indianapolis, IN.
    (317) 284-5534
    Request Owner's contact information
    3808 Shelby St Indianapolis, IN 46227
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    Indianapolis, IN 46227
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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
    3808 Shelby St Indianapolis, IN 46227
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