6101 Madison Ave
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6101 Madison Ave
2,706 SF Vacant Retail Building Indianapolis, IN 46227 $449,000 ($166/SF)
Investment Highlights
- Half acre corner lot on Madison Avenue.
- Room for upgrades to increase value or expand.
- Duplex for owner to occupy, rent half or rent out completely.
Executive Summary
For sale is a unique investment opportunity perfect for an owner operator to live and work in or rent out. This residential duplex with a commercial variance is prime real estate on Madison Avenue with tons of exposure for business, but also has the privacy of being in a quiet, residential neighborhood. This property features a partially renovated 2/2 townhouse with a 2 car heated garage, which could be used as storage space or built out for more living area. A large wooden privacy fence with brick patio offers a serene space to relax outdoors or entertain. The partial renovation leaves room to make it your own and capitalize on the great price. On the opposite side of the duplex is a recently fully renovated hair salon with 2 private rooms, 5 booths to rent, separate laundry, and waiting area. The parking lot accommodates 8 cars and the long driveway offers space for more parking if needed. There is currently a tenant, however they will not be staying with the sale. The owner is also the real estate agent and a motivated seller. Do not miss out on this substantial income opportunity!
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,706 SF
Building Class
B
Year Built
1948
Price
$449,000
Price Per SF
$166
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.13
Lot Size
0.47 AC
Parking
8 Spaces (2.96 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Corner Lot
- Courtyard
- Signage
- Skylights
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 49-15-07-105-005.000-500 | Improvements Assessment | $94,800 |
| Land Assessment | $45,800 | Total Assessment | $140,600 |
PROPERTY TAXES
Parcel Number
49-15-07-105-005.000-500
Land Assessment
$45,800
Improvements Assessment
$94,800
Total Assessment
$140,600
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Presented by
Roger Webb Real Estate, INC
6101 Madison Ave
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