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Property profile & analytics
OFF-MARKET
Banks

706 Broad Ripple Ave Indianapolis, IN 46220-1963

1,800 SF 0.08 ac lot Built 1970
Individually Owned 2-yr Hold Free & Clear
Property ID
US31-0991195
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1970
Total area 1,800 SF
Lot 0.08 ac (3,600 SF)
Zoning code ZO01
APN 49-03-36-113-001.000-801
UPID US31-0991195
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
  • Chase Bank Bank Loan Service
  • Chase ATM Atm
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Ossip Real Estate 706 Broad Ripple · 2 yrs held
Ossip Real Estate 706 Broad Ripple
since 2024
1 recorded transaction
2024
Price N/A
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source code of ordinances
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