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University Shoppes 3919 Madison Ave

36,742 SF 66% Leased Retail Building Indianapolis, IN 46227 £3,162,371 (£86.07/SF) 8.67% Net Initial Yield

INVESTMENT HIGHLIGHTS

  • Renovated center
  • Value add opportunities
  • Long term leases in place

EXECUTIVE SUMMARY

University Shoppes is a well maintained center featuring a stunning exterior and offer exceptional visibility. Situated on the hard corner of Madison Ave and Hanna Ave. on the southside of Indianapolis. This center benefits from easy access to a dense residential population and immediate proximity to the University of Indianapolis with 5600 students.
Conveniently located less than 4 miles from the heart of downtown Indy and a access to major highways, including I-465 and US 31 which runs north and south through the city.
Please contact broker for Offering Memorandum.

PROPERTY FACTS Under Contract

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
36,742 SF
Building Class
B
Year Built/Renovated
1990/2009
Price
£3,162,371
Price Per SF
£86.07
Net Initial Yield
8.67%
NOI
£274,193
Percent Leased
66%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.11
Lot Size
7.79 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
Commercial - University Shoppes is zoned C7 which allows for most uses.
Parking
175 Spaces (4.76 Spaces per 1,000 SF Leased)
Frontage
621 ft on E Hanna Ave

AMENITIES

  • Pylon Sign

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 1st Floor
  • 2,500-12,586 SF
  • Office/Retail
  • In-Line
  • Now
Space Size Space Use Position Available
1st Floor 2,500-12,586 SF Office/Retail In-Line Now

1st Floor

Size
2,500-12,586 SF
Space Use
Office/Retail
Position
In-Line
Available
Now
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NEARBY MAJOR RETAILERS

Fifth Third Bank
Chase Bank
7 Brew Coffee
MCL Restaurant & Bakery
BMO
Rent-A-Center
Bank of America
Kroger
PNC Bank
Steak ‘n Shake

PROPERTY TAXES

Parcel Number 49-11-25-107-013.000-501 Improvements Assessment £2,540,849
Land Assessment £509,759 Total Assessment £3,050,608

PROPERTY TAXES

Parcel Number
49-11-25-107-013.000-501
Land Assessment
£509,759
Improvements Assessment
£2,540,849
Total Assessment
£3,050,608
(317) 814-2111

CONTACT

  • Listing ID: 33780886

  • Date on Market: 06/11/2024

  • Last Updated:

  • Address: 3919 Madison Ave, Indianapolis, IN 46227

The North Perry Retail Property at 3919 Madison Ave, Indianapolis, IN 46227 is currently available. Contact C21 Commercial for more information.

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University Shoppes | 3919 Madison Ave
(317) 814-2111 x

University Shoppes | 3919 Madison Ave

Jodi Milto

(317) 814-2111

(317) 814-2111

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