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    514 Hanna Ave Indianapolis, IN 46227

    For Sale
    Contact for pricing

    2.39 Acres, High-Traffic Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional 2.39-acre commercial land parcel presents a unique investment opportunity in Indianapolis, Indiana. Strategically located at a signalized intersection of East Street and Hanna Avenue, this property boasts significant frontage on both major thoroughfares. The site is zoned C4, C5 (Commercial), and D4 (Residential), offering considerable flexibility for development. Its prime location offers unparalleled access to a substantial consumer base. The property enjoys close proximity to the University of Indianapolis, home to over 5,000 students, and is directly adjacent to a Kroger grocery store and the Southern Plaza Shopping Center, ensuring high visibility and convenient access for potential businesses. Adding to its appeal, South East Street experiences an average daily traffic count of 38,080 vehicles, guaranteeing substantial exposure. The asking price for this highly desirable property is $895,900. This presents a rare chance to acquire a well-positioned commercial land parcel with significant development potential in a thriving Indianapolis neighborhood. The property's address is 514 E Hanna Ave, Indianapolis, IN 46227, and is situated in Marion County.

    Property Features for 514 Hanna Ave

    General Information

    Property type
    Land
    Lot Size
    104,108 SF

    HighLights

    • 2.39‑acre commercial parcel available, frontage on East Street & Hanna Avenue.
    • C4, C5 (Commercial), and D4 (Residential) zoning.
    • Signalized intersection location.
    • Near University of Indianapolis (5,000+ students).
    • Adjacent to Kroger & Southern Plaza Shopping Center.
    • High traffic count: 38,080 vehicles/day on S East Street.
    Property Profile Insight Report 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
    -86.149522
    Latitude
    39.708428

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    FAQs

    What type of property is this?
    Land - 2.39 Acres, High-Traffic Location
    Where is this land located?
    The property is located at 514 Hanna Ave Indianapolis, IN.
    What are key features of this property?
    This property features: 2.39-acre commercial parcel available, frontage on East Street & Hanna Avenue.; C4, C5 (Commercial), and D4 (Residential) zoning.; Signalized intersection location.
    (317) 713-2144
    Request Owner's contact information
    514 Hanna Ave 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
    514 Hanna Ave Indianapolis, IN 46227
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