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Property profile & analytics
OFF-MARKET Estimated value $790,000
Office Spaces

3520 Washington Blvd Indianapolis, IN 46205-3719

7,905 SF 0.82 ac lot Built 1962
Individually Owned 9-yr Hold Free & Clear
Property ID
US31-0606062
Property summary
AI-generated overview

This exceptional 6,000 square foot office building at 3520 Washington Boulevard in Indianapolis, Indiana presents a unique investment opportunity. Situated on a 0.82-acre lot in the desirable Midtown area, this single-story brick building boasts distinctive architecture and a convenient location. The interior currently features a mix of large and small offices, as well as open workspaces, offering flexibility for a variety of business needs. The layout is easily adaptable to suit specific requirements. Beyond the main 6,000 square feet, an additional 2,000 square feet of unfinished basement space provides potential for expansion or valuable on-site storage. The property includes a fenced parking area accommodating approximately 15 vehicles, supplemented by readily available street parking. Public transportation is also easily accessible via a nearby bus line. The building's history includes successful tenancies by both an engineering firm and a law practice, demonstrating its suitability for a range of professional uses. Currently occupied under a lease expiring April 30th, 2025, this property offers a strong investment potential with a clear path to future occupancy and income generation. The building is well-maintained and presents a solid opportunity for a discerning buyer.

Property profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1962
Construction TYPE NOT SPECIFIED
Total area 7,905 SF
Lot 0.82 ac (35,625 SF)
Zoning code ZO01
APN 49-06-24-164-034.000-101
UPID US31-0606062
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Lifeline Youth & Family Services Child Welfare Organization Charitable Organization
  • Crosswinds Counseling Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$933k
Blend (final) Blend
$790k
Owner & transaction history
Michael O'brien · 9 yrs held
Michael O'brien
since 2016
4 recorded transactions
2016
$460,000
2014
Price N/A
2007
Price N/A
2006
Price N/A
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $630,000 +6.3%
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