3915 Madison Ave Indianapolis, IN 46227-1364
Property Lookup
Property profile & analytics
3915 Madison Ave Indianapolis, IN 46227-1364
- Strip malls
- 16,500 SF
- 0.45 lot acres
Property ID
US31-3428318
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Papa John's Pizza / Restaurant
- George Hmung: Allstate Insurance / Insurance Agency
- AMES Tools / Hardware & Home Improvement / Big Box & Wholesale Store
- Laundry Plus / (Bike/Boat/Book/etc) Store
- Laundry / (Bike/Boat/Book/etc) Store
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
- Shopping 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.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Marion
- State
- Indiana
- Longitude
- -86.1418
- Latitude
- 39.7095
- CBSA code
- 26900
- CBSA name
- INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$31,971
$171,100
$997,700
$1,168,800
-
$171,100
$997,700
$1,168,800
