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1415 Shelby St 6,950 SF Office Building Indianapolis, IN 46203 $1,300,000 ($187.05/SF)
Executive Summary
Owner-occupant opportunity in the heart of historic Fountain Square. This newly renovated 6,590 SF multi-tenant commercial property offers a rare opportunity to occupy the largest suite while maintaining income from two leased spaces. The building is prominently positioned along Shelby Street in one of Indianapolis' most active mixed-use corridors. The property consists of three suites: 1417 Shelby Street totaling 3,640 SF and currently vacant for immediate occupancy; 1415A Shelby Street totaling 1,250 SF and leased through July 31, 2028; and 1415B Shelby Street totaling 1,700 SF and leased through June 30, 2027. The layout provides a strong combination of owner-user space and stabilized tenancy within the same asset. A key feature of the property is its parking configuration. The site includes two separate parking lots, providing flexibility for tenant and customer use. The property offers direct access from Shelby Street, along with alley access to both parking areas, allowing for convenient ingress and egress, service access, and efficient traffic flow. Recent renovations enhance both the functionality and appearance of the building, delivering a move-in ready environment for an owner-occupant while maintaining quality space for existing tenants. The 3,640 SF suite presents an ideal footprint for retail, office, or service-oriented users seeking a strong presence in Fountain Square, with the flexibility to expand into additional space in the future as leases expire. This is a well-located, multi-tenant commercial asset offering immediate occupancy, established tenancy, dedicated parking, and excellent accessibility in one of Indianapolis' most desirable urban submarkets.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
6,950 SF
Building Class
B
Year Built
1966
Price
$1,300,000
Price Per SF
$187.05
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,950 SF
Slab To Slab
12’
Building FAR
0.23
Lot Size
0.69 AC
Zoning
Commercial - MU-1 Office
Parking
39 Spaces (5.61 Spaces per 1,000 SF Leased)
Amenities
- Fenced Lot
Walk Score®
Very Walkable (82)
Bike Score®
Biker's Paradise (91)
Property Taxes
| Parcel Numbers | Improvements Assessment | $330,700 | |
| Land Assessment | $261,300 | Total Assessment | $592,000 |
Property Taxes
Parcel Numbers
Land Assessment
$261,300
Improvements Assessment
$330,700
Total Assessment
$592,000
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1415 Shelby St
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