Flexible C5 Redevelopment Acreage on High Traffic, Mass. Ave Corridor!

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30703979
Property Subtypes: Car Wash, Convenience Store, Free-Standing Building, Garden Center, Mixed Use, Parking Facility, Restaurant, Retail-Pad, Service Station/Gas Station, Street Retail, Tavern/Bar/Nightclub, Vehicle Related, Other
Status: Pending
Building Status: Proposed
Building Size (RSF): 4,606 SF
Gross Building Area: See Agent
Gross Land Area: 1.44 Acres
Sale Price: $539,000
Unit Price: $117.02 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/22/2022

Overview / Comments

The redevelopment opportunities are nearly limitless on this busy, highly traveled, 6-corner intersection of Mass Ave, Arlington Ave & 34th Street. Almost 1.5 acres of highly visible acreage with flexible zoning, excellent traffic counts, and just 1.5 miles from I-70/Emerson ramp, 1.7 miles from I-465/Shadeland ramp, 1 mile from Shadeland/38th corridor, on major bus lines, multiple existing street cuts on both Mass Ave & 34th St, and municipal utilities already on site. Viable, fully-leased 4600 SF freestanding retail structure with 4 storefronts, separate restrooms/utilities/HVAC and 22 paved parking spaces currently on site with additional billboard lease income as well. There is enormous potential for a variety of site configurations, possibilities and opportunities all the while having cash flow while redevelopment is in progress.

Additional Details

Nearest MSA: Indianapolis-Carmel-Anderson
County: Marion
Taxing Authority: Marion County
Tax ID/APN: 490723124007000700
Zoning: C5
Property Visibility: Excellent
Largest Nearby Street: Massachusetts Avenue
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,606 SF
Year Built: 1931
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 22
Parking Ratio: 4.8 (per 1000 SF)
Parking Type: Surface
Zoning Description: C5
Lot Frontage: 530 FT on Mass Ave & 480 FT on 34th Street
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,157 112,001 291,768
Median Age: 35.9 36.39 35.59
Households: 3,473 45,892 120,446
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