8850 21st St Indianapolis, IN 46219-1937

This fee-simple property, the Country Road Inn, presents a compelling value-add opportunity in Indianapolis, Indiana. Located at 8850 East 21st Street and 2140 N. Boehning Street, zip code 46219, this 55,768 square foot motel sits on a 4.83-acre lot zoned C-4, offering significant redevelopment potential. The property comprises four buildings, totaling 126 keys, with 80 currently rented weekly. Building A features 48 rooms, Building B has 37, and Building C contains 41 rooms. A separate front office building includes a manager's living quarters, front desk, and additional space. Built in 1973, the motel is a two-story structure with one parking space per key. The current gross operating income is $650,000. The property is being sold "as is" and requires a full renovation, including exterior, interior, and roof work. This presents an ideal opportunity for rebranding as an economy motel or extended-stay franchise. The property's prime location and substantial size make it an attractive investment for those seeking a significant redevelopment project with high upside potential in a thriving market. The property is currently operating as an independent extended-stay motel.