PENROSE ON MASS PROJECT

530 Massachusetts Ave, Indianapolis, Indiana 46204

  • Property Subtypes Street Retail
  • Gross Building Area 39,000 SF
  • Building Status Under Construction
  • Available Space 18,315 Sf
  • Min/Max Available Space 3360 min - 6636 max Sf
  • Class of Space N/A
  • Total Land Size 3.48 Acres
  • Cap Rate Undisclosed
  • Last Updated 7/10/2019
  • Days on Market 1283 Days
  • Status active

Overview / Comments

The new Penrose on Mass project offers retailers and restaurants, looking to expand in downtown Indianapolis, a unique opportunity that they rarely find in an urban setting: new, contemporary construction; plenty of on-site parking and a strong residential component all in a commercial-friendly environment. The $50-million, mixed-use Penrose on Mass project in downtown Indianapolis includes 4-stories of apartments (236 units) and 39,000 square feet of retail being jointly developed by John Hart of JC Hart and Strongbox, lead by Paul Kite. + 39,000 square feet of retail on the first floor + Located in the heart of Mass. Avenue + Mix of brick, stone and metal paneling along Mass Ave. + 236 apartment units + Signature architecture + 20’ clear ceiling heights allowing for mezzanines + Outdoor patio capability + Rear covered delivery + 373 total garage spaces, 200 specifically for retail and an additional 45 new street parking spaces for retail use as well

Additional Details

  • Tax ID/APN 49-11-01-119-003.000-101

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