5172 65th St Indianapolis, IN 46220-4883

This exceptional value-add investment opportunity presents two buildings totaling 26,400 square feet of creative office space situated on a 1.68-acre lot in Indianapolis, Indiana. The property, located at 5172 E 65th St, zip code 46220, boasts 23 units within a multi-tenant setting, offering significant upside potential. Built between 1972 and 1973, the buildings feature new roofs installed in 2016 and 2020, showcasing a commitment to well-maintained structures. Currently operating under a modified lease type, the property offers ample parking with 82 free surface spaces. The strategic location in a highly sought-after northeast Indianapolis neighborhood provides easy access to Binford Boulevard, I-465, downtown Indianapolis, and the Indianapolis International Airport. Its proximity to the Nickel Plate Trail adds to its appeal. The property is zoned I-1 and is offered fee simple. The asking price is $1,898,795, translating to $71.92 per square foot. Existing vacancy presents a compelling opportunity to increase rental income and recapture expenses, maximizing the return on investment. This property is ideal for owner-occupants seeking to expand their operations or investors looking for a strong value-add opportunity with significant redevelopment potential. The current income stream, exceeding $20,000 annually, further enhances the investment's attractiveness.