1311 96Th StIndianapolis, IN 46260

Property Details for 1311 96Th St

Year built

1981

Construction

WOOD

Lot size

2.25 AC

Property size (Sq ft)

24,816 SF

Zone code

ZO01

Property type

Office properties

Property subtype

Other office properties

APN

49-03-15-124-008.000-800

APU

490315124008000800

Description

This exceptional two-story, 24,800 square foot Class B office building presents a compelling investment or owner-user opportunity in Indianapolis, Indiana. Located at 1311 W. 96th Street, 46260, this multi-tenant property boasts a strong 7.04% capitalization rate and a net operating income (NOI) of $220,000, with an asking price of $3,125,000 ($126.01 per square foot). The building's design incorporates two main entrances, offering potential for dual occupancy or separate leasing opportunities. Investors will appreciate the value-add potential to increase rental income through property improvements. Owner-users will benefit from the substantial, well-located space, offering significant visibility and the option to lease a portion of the building for supplemental income. This property is situated in Marion County and provides a rare combination of high visibility and low cost per square foot in a desirable Indianapolis location. The building's size and layout offer considerable flexibility for a variety of business needs. This is a unique opportunity to acquire a well-positioned asset with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,369,390

  6.5%

  $3,110,206

  7%

  $2,888,049

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,538,184

  Geo Method

  $2,538,184

• Alternative Use

  Use

  Valuation

  Residential

  $3,856,656

  Hospitality

  $3,532,676

  Educational

  $2,939,145

  Medical

  $3,040,227

  Retail

  $4,572,004

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.9256

Longitude

-86.1825

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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