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Listed by Justus Hodges • Just Homes Realty
$ 350,000
Est. payment /mo
New
7102 Kentucky AVE Indianapolis, IN 46113
3,975 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 3,975 sqft
Price per Sqft $88
MLS Listing ID 22102463
Tax Year 2024
Lot Size 0.320 Acres
Acres 0.32
Property Sub-Type Retail
Property Description
Three of four units are currently vacant and available for lease-up at market rates. The fourth unit is occupied by an established barbershop business whose operator (the seller) has indicated willingness to execute a market-rate lease-back at closing - delivering immediate in-place income to the new owner from day one. At achievable upside rents of $15.00/SF gross, full lease-up generates projected NOI of approximately $37,300 annually, supporting a stabilized cap rate above 10.5% even at the offering price. The property is offered at approximately $88 per square foot - still well below the cost to construct comparable retail space new (typically $140-180/SF). For an owner-user, the structure of SBA 504 financing means as little as $35,000 down secures ownership of an income-producing commercial property with three units of additional rental upside.
Location
State IN
County Marion
Zoning ZO01
Interior
Fireplace N
Exterior
Utilities Available Septic System
Building
New Construction false
Schools
Middle Schools Decatur Middle School
School District Msd Decatur Township
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