1520 E Riverside Dr, Indianapolis, IN 46202
For Sale
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This 9,000 square foot, two-story office building presents a unique owner-occupant opportunity. Constructed in 1965, the property boasts a desirable location near the 16 Tech innovation district in Indianapolis, Indiana. Situated on a 0.94-acre lot, the building features excellent visibility and accessibility, with existing pylon signage along 16th Street, including electronic messaging capabilities. The property benefits from easy ingress and egress via a signalized intersection at 16th Street and Riverside Drive, and is conveniently located on an IndyGo bus route (lines 15, 25, and 30). The building is classified as Class C and is zoned C-5. The property's address is 1520 E Riverside Dr, Indianapolis, IN 46202 (APN: 49-06-34-123-021.000-101, 49-06-34-123-020.000-101). Furthermore, this location is within an Opportunity Zone, offering potential tax advantages. The building is well-maintained and offers a total of 9,000 square feet of net rentable space. This presents a compelling opportunity for businesses seeking a strategically located and functional office space.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.