8921 Us 31 Indianapolis, IN 46227-6255
Property profile & analytics
8921 Us 31, Indianapolis, IN 46227-6255
- Outlet malls
- 35,552 SF
- 2.93 lot acres
Property ID
US31-1112609
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Falling prices / Department Store
- Falling Prices Greenwood / Discount Store
- BidRL Greenwood / Trade Show Venue / (Bike/Boat/Book/etc) Store
Property Details for 8921 Us 31
- Year built
- 1983
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 2.93 lot acres
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 49-15-19-123-014.000-500
- APU
- 491519123014000500
Description
This exceptional investment opportunity presents a 35,838-square-foot storefront property in Indianapolis, Indiana, currently leased to Falling Prices under a Net Lease (NNN) agreement. The property boasts a strong 8.00% cap rate and an asking price of $4,112,411 ($114.75/sq ft). The lease, commencing March 1, 2023, and expiring February 28, 2033, has approximately 8.3 years remaining. The lease includes two 5-year option periods with a 2% annual rent increase throughout the original term and options. The tenant is responsible for common area maintenance (CAM), real estate taxes, and insurance premium reimbursements. This single-tenant building is strategically located on 2.93 acres at 8921 US 31 S, Indianapolis, IN 46227, benefiting from high visibility and traffic counts. The property enjoys a prime location immediately north of Greenwood Park Mall, a major retail hub anchored by well-known national brands. It's also surrounded by numerous other successful retail establishments, including Old Time Pottery, Ulta, TJ Maxx, and many more. The area boasts strong demographics, with average household incomes exceeding $65,000 within one mile, rising to over $98,000 within five miles. Daily traffic counts on US 31 exceed 34,000 vehicles, ensuring high exposure for the tenant and strong potential for future appreciation. This is a rare opportunity to acquire a stable, high-performing retail investment in a thriving Indianapolis market.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,462,000
Market price range: $921k - $2.85M -
Alternative Use
- Use
- Estimation
- INDUSTRIAL (GENERAL)
- $2,220,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Marion
- State
- Indiana
- Longitude
- -86.1263
- Latitude
- 39.6377
- CBSA code
- 26900
- CBSA name
- INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$39,733
$1,176,400
$893,800
$2,070,200
-
$1,176,400
$893,800
$2,070,200
