1408 Pennsylvania St Indianapolis, IN 46202-2421

Property Details for 1408 Pennsylvania St

Year built

1955

Construction

WOOD

Lot size

0.22 lot acres

Property size

7,062 SF

Property type

Office Properties & Spaces

APN

49-06-36-154-007.000-101

APU

490636154007000101

Description

This 7,062 square foot mixed-use building, located at 1408 N Pennsylvania St in Indianapolis, Indiana, presents a unique investment opportunity. Built in 1901, this three-story Class C property boasts a 100% occupancy rate and a compelling 10% capitalization rate. The asking price is $895,000, translating to $126.73 per square foot. The property is zoned C4 and features five parking spaces. Currently configured as a creative office space, this single-tenancy building offers significant potential for redevelopment. Its prime location near hospitals, apartment complexes, and other businesses makes it ideal for a variety of uses. Conceptual designs, available via virtual 3D tours, showcase potential transformations into a restaurant with a VIP lounge and owner's suite, or a luxury single-family home suitable for short-term or mid-term rentals. The property's versatility and strong location make it an attractive investment for both seasoned and emerging investors seeking a high-return opportunity in a thriving Indianapolis neighborhood. The building's existing configuration as a creative office space provides immediate income generation while allowing for future adaptive reuse.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Longitude

-86.1562

Latitude

39.7861

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments