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Property profile & analytics
OFF-MARKET Estimated value $1,425,000
Grocery and convenience stores

6845 Massachusetts Ave Indianapolis, IN 46226-5651

14,860 SF 4.19 ac lot Built 1996
Entity Owned 9-yr Hold ~ Est. High Equity
Property ID
US31-0499968
Property summary
AI-generated overview

This exceptional 15,100-square-foot commercial property, located at 6845 Massachusetts Avenue in Indianapolis, Indiana, presents a compelling owner-user opportunity. The building, constructed in 1996, boasts a versatile design suitable for retail, office, or light industrial uses, reflecting its C-4 and C-5 zoning. The property features a spacious layout with a 14-foot clear ceiling height and ample parking for 115 vehicles, providing a 7.7:1,000 square foot ratio. Significant recent upgrades include a new 1,600-amp, three-phase electrical system and two recently installed 7.5-ton HVAC systems. The former Aldi grocery store layout includes existing refrigerators and coolers. The 4.188-acre lot offers excellent visibility due to its location near the busy 38th Street/Pendleton Pike intersection, just one mile from I-465 and two miles from I-70. A large backlit pylon sign enhances visibility. The property benefits from its proximity to numerous amenities and established businesses, including EquipmentShare, Hindel Bowling Lanes, U-Haul, Advanced Auto Parts, and CVS. Further enhancing its appeal is a convenient IndyGo bus stop at the corner and the planned Purple Line improvements along 38th Street. A Hydroponic Farm variance is also in place under the C-5 zoning. The asking price for this turnkey property is $1,649,000.

Property profile
Verified
Property type Grocery and convenience stores
Use group GROCERY, SUPERMARKET
Year built 1996
Construction TYPE NOT SPECIFIED
Total area 14,860 SF
Lot 4.19 ac (182,432 SF)
Zoning code ZO01
APN 49-07-23-122-002.000-700
UPID US31-0499968
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
  • Roka Farms Food Processing Plant
  • Roka Hemp Food Processing Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.48M
Blend (final) Blend
$1.43M
Owner & transaction history
Roka Realty LLC · 9 yrs held
Roka Realty LLC
since 2017
1 recorded transaction
2017
Price N/A
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $1.2M +6.6%
Commercial (general) $1.1M +0.2%
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