706 Broad Ripple Ave Indianapolis, IN 46220-1963
This exceptional 4,220-square-foot freestanding retail building presents a unique investment opportunity in the vibrant Broad Ripple Village district of Indianapolis, Indiana. Situated on a prime corner lot at the intersection of Broad Ripple Avenue and College Avenue, this single-tenant property benefits from exceptional visibility and accessibility. The building offers 12 parking spaces, and enjoys strong pedestrian traffic from Broad Ripple Avenue, the Monon Trail, and the Canal Trail. Further enhancing its appeal is its proximity to a parking garage with nearly 350 spaces. The property is ideally located within a thriving cultural district renowned for its diverse retail offerings, restaurants, arts scene, and recreational amenities. Recent significant investments totaling $8 million have revitalized Broad Ripple's infrastructure, including streets, sidewalks, lighting, and landscaping. The area boasts a high concentration of desirable residential options, with over 700 high-end apartment units within walking distance. This location also benefits from its proximity to major educational institutions, including Butler University (5,500 students), Purdue Polytech High School, Marian University (3,500 students), and Indiana University/Purdue University Indianapolis (30,000 students). The property is surrounded by a variety of established businesses, including Fresh Thyme Farmers Market, The Vogue, Starbucks, Chipotle, Café Patachou, Kilroy's, Brothers, Massage Envy, Salon Lofts, and Orange Theory, creating a strong and diverse commercial environment. This property is perfect for a variety of retail uses, including medical, and entertainment. The zip code is 46220. The property is located in Marion County.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
ZO01 · Indianapolis, INCosts & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.