8110 Shadeland AveIndianapolis, IN 46250

Property Details for 8110 Shadeland Ave

Year built

1993

Construction

WOOD

Lot size

1.75 AC

Property size (Sq ft)

13,344 SF

Zone code

ZO01

Property type

Hospitality properties

Property subtype

Hotels

APN

49-02-23-117-002.000-400

APU

490223117002000400

Description

This fee-simple, 84-key Red Roof Inn motel presents a compelling value-add investment opportunity in Indianapolis, Indiana. Situated on a 2.054-acre lot at 8110 Shadeland Ave, 46250, this two-story, exterior-corridor property boasts 31,916 square feet and offers significant upside potential. Built in 1983 and 1993 with renovations completed in 2016, the property benefits from its prime location near Interstate 69 and I-465, providing easy access to downtown Indianapolis, Fishers, and Carmel. The motel's proximity to major employers like Roche Diagnostics Headquarters and the Ruoff Music Center, along with the nearby Castleton Square Mall and numerous restaurants and retail shops, ensures a strong demand base. Currently operating at 50.23% occupancy, the property generates a NOI of $347,000, with a pro-forma NOI projected at $515,000, representing a pro-forma cap rate of 14.11%. The asking price is $3,650,000 ($114.36/sq ft and $43,452.38/key). The property is adjacent to Community Heart and Vascular Hospital and MD Anderson Center, further enhancing its strategic positioning. The existing 84 keys offer room for expansion to 91 keys, presenting an additional avenue for revenue growth. This is a rare opportunity to acquire a national franchise motel in a thriving market with substantial room for improvement.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.9027

Longitude

-86.0466

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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