1828-1834 Central Ave
7,918 SF 100% Leased Office Building Indianapolis, IN 46202 $2,400,000 ($303.11/SF) 7.29% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy day time traffic
- Open plan with exposed brick walls
- Options for renewal
- Area newly redeveloped
- 5 year lease remaining
EXECUTIVE SUMMARY
We are delighted to present a prime C3 building boasting 7,918 square feet of versatile space, situated in the vibrant heart of Indianapolis on Central Avenue. This standout investment property offers a unique blend of commercial possibilities. This property comes with a strong tech tenant with 5 years remaining on their lease at market rate rents with 4% year-over-year increases, and an option to renew tenant or create your another use. With new housing surrounding the area, there is opportunity to and demand long term for this location.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
7,918 SF
Building Class
B
Year Built/Renovated
1999/2020
Price
$2,400,000
Price Per SF
$303.11
Cap Rate
7.29%
NOI
$175,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,959 SF
Building FAR
0.70
Lot Size
0.26 AC
Opportunity Zone
Yes
Zoning
C3 - Office or retail
Parking
12 Spaces (1.52 Spaces per 1,000 SF Leased)
AMENITIES
- Accent Lighting
- Basement
- Central Heating
- High Ceilings
- Drop Ceiling
- Air Conditioning
1 of 1
Walk Score®
Very Walkable (76)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 49-06-36-158-240.000-101 | Improvements Assessment | $611,400 (2023) |
| Land Assessment | $37,400 (2023) | Total Assessment | $648,800 (2023) |
