3915 Madison Ave Indianapolis, IN 46227-1364

Property Details for 3915 Madison Ave

Year built

1997

Construction

TYPE NOT SPECIFIED

Lot size

0.45 lot acres

Property size

16,500 SF

Zone code

ZO01

Property type

Strip malls

Property subtype

Neighborhood centers

APN

49-11-25-107-009.000-501

APU

491125107009000501

Description

This fully-occupied, 16,268 square-foot shopping center in Indianapolis, Indiana, presents a compelling investment opportunity. Boasting a strong tenant mix of retail, dining, and service businesses, the property enjoys excellent visibility and accessibility, situated on a hard corner adjacent to the University of Indianapolis and within one mile of Interstate 465. Built in 1997, the single-story building sits on a 0.45-acre lot and offers 150 parking spaces. Currently 100% leased with seven units, the property features below-market triple-net rents averaging less than $12.50 per square foot, providing significant upside potential for rent growth. The average lease term remaining is five years, ensuring stable cash flow. The property's strong historical occupancy and strategic location near downtown Indianapolis (four miles) and a major university (adjacent) contribute to its consistent demand. With a Net Operating Income (NOI) of $205,421 and an asking price of $2,500,000, this property offers an attractive 8.22% capitalization rate. The property is well-maintained and benefits from access points on South Madison Avenue and East Hanna Avenue, sharing a parking lot with established community institutions. This is a rare opportunity to acquire a stable, high-performing retail investment with built-in rent increases and significant upside potential. The Marion County property (APN: 49-11-25-107-011.000-574) is offered for sale by owner.