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Historical Building For Sale 365 N Illinois St 19,840 SF 100% Leased Retail Building Indianapolis, IN 46204 For Sale
Investment Highlights
- Unfinished third floor with exposed brick, industrial beams, open ceiling and roof top space. Perfect for apartment/condo, event center,restaurant/bar
- CBD-3 zoning (Central Business District)
- New roof installed in 2023
- Adjacent parking garage and street parking
Executive Summary
This 19,840sf building has three floors including a full basement situated on .12 acres. Build in 1880 with tons of charm and character. This property currently has 2 tenants occupying the building. El Toro Mexican Restaurant on the first floor and WIP Downtown Hair Salon on the second. The building would ideal for an owner user or investment property with ton of value add opportunity , +/-1400sf available on the second floor and +/-4950sf on the 3rd floor. Unfinished third floor has lots of potential with the exposed brick and industrial beams and a fabulous view of the city. Perfect for apartments/ condos, event space or restaurant/bar with possible roof top space. Zoned CBD-3. Adjacent parking garage and street parking available. Convenient access to I-65 and I-70
Building has two long term income producing tenants. Please contact broker for rent roll. Leases are NNN . Landlord is currently paying taxes and insurance.
Building has two long term income producing tenants. Please contact broker for rent roll. Leases are NNN . Landlord is currently paying taxes and insurance.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
19,840 SF
Building Class
C
Year Built
1880
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.80
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
CBD-3 - Central Business District.
Frontage
169’ on North Illinois Street
Exceptionally walkable
90/100
Fairly drivable
50/100
Good public transit
70/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-11-02-251-020.000-101 | Improvements Assessment | $370,400 |
| Land Assessment | $287,600 | Total Assessment | $658,000 |
Property Taxes
Parcel Number
49-11-02-251-020.000-101
Land Assessment
$287,600
Improvements Assessment
$370,400
Total Assessment
$658,000
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Historical Building For Sale | 365 N Illinois St