Technical
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Property profile

5417 38th St Indianapolis, IN 46218

OFF-MARKET
Strip malls
Property ID
US31-0544448
12,720 SF 1.09 ac lot Built 1968
Entity Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional retail opportunity presents a 4,000 square foot shopping center ideally situated at the corner of E. 38th St. and E. Whittier Place in Indianapolis, Indiana. The property, a Class C building constructed in 1968 and extensively renovated in 2014, offers two available suites. Each suite is divisible, with a minimum leasable area of 2,800 square feet and a maximum contiguous space of 1,200 square feet. Currently, the entire 4,000 square feet is vacant, presenting a unique chance for a single tenant or multiple occupants. The property boasts ample parking, a significant advantage for customers and employees. Its strategic location directly across the street from the Indianapolis Public Library on 38th Street ensures high visibility and foot traffic. Furthermore, its proximity to the Indianapolis International Airport (approximately 20 miles) adds to its appeal. Lease rates and terms are negotiable, making this a highly adaptable space for a variety of retail businesses. The property is located in Marion County, Indiana, with the address being 5417 E. 38th St., Indianapolis, IN 46218.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1968
Construction TYPE NOT SPECIFIED
Total area 12,720 SF
Lot 1.09 ac (47,513 SF)
Zoning code ZO01
APN 49-10-03-216-017.000-701
UPID US31-0544448

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Nail Salon
  • Hair Salon
  • Hair Salon Nail Salon
  • Barber Shop

Location

5417 38th St Indianapolis, IN 46218-1820
Indianapolis metro Census 360102 INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$295k

Owner & transaction history

since 2023
7 recorded transactions
2023
Price N/A
2021
Price N/A
2020
$28,200
2019
Price N/A
2014
$150,000
1969
Price N/A
1969
Price N/A

Zoning & alternative use

ZO01 · Indianapolis, IN

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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