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Mixed-Use

1354 Shelby St

1354 Shelby St, Indianapolis, IN 46203

Listing Price: $1,125,000

Cap Rate
4.94%
Number of Units
8
Occupancy
95.0%
Price/Unit
$140,625
Price/Gross SF
$113.64
Gross SF
9,900

Investment Overview

The property is well-located within the Fountain Square neighborhood just outside Indianapolis’s “mile square” downtown. The neighborhood is one of seven cultural districts in Indianapolis and is widely considered the newest trendy neighborhood within the city. The area has attracted investors since the 1990s which has helped revitalize Fountain Square with a mix of historic and modern architecture from new developments and attractively completed redevelopments. The neighborhood has gained exposure in popular culture through the HGTV show “Good Bones” which focuses on rehabbing homes in the Fountain Square neighborhood. In addition, over 450 newly constructed multifamily units have been delivered since 2010 between Fountain Square and the synchronous Fletcher Place. These 450 units are achieving over $1,500/month on average showing strong demand for the area by young professionals at nearby top employers. 1354 Shelby Street is also located just 5-minutes from the heart of downtown Indianapolis. This convenient locations allows easy access to the city’s main interstates, top employers, and most large attractions in Indianapolis. The city’s second largest employer, Eli Lilly and Company, is less than 5-minutes from the property giving access to over 10,000 employees in immediate proximity.

Investment Highlights

  • Desirable Fountain Square Neighborhood
  • Strong Value-Add Opportunity Through Retail Lease-Up
  • Proximity to Downtown Indianapolis
  • Immediate Indianapolis Cultural Trail Access

Exclusively Listed By

Listing Price: $1,125,000

Cap Rate
4.94%
Number of Units
8
Occupancy
95.0%
Price/Unit
$140,625
Price/Gross SF
$113.64
Gross SF
9,900

Investment Highlights

  • Desirable Fountain Square Neighborhood
  • Strong Value-Add Opportunity Through Retail Lease-Up
  • Proximity to Downtown Indianapolis
  • Immediate Indianapolis Cultural Trail Access

Investment Overview

The property is well-located within the Fountain Square neighborhood just outside Indianapolis’s “mile square” downtown. The neighborhood is one of seven cultural districts in Indianapolis and is widely considered the newest trendy neighborhood within the city. The area has attracted investors since the 1990s which has helped revitalize Fountain Square with a mix of historic and modern architecture from new developments and attractively completed redevelopments. The neighborhood has gained exposure in popular culture through the HGTV show “Good Bones” which focuses on rehabbing homes in the Fountain Square neighborhood. In addition, over 450 newly constructed multifamily units have been delivered since 2010 between Fountain Square and the synchronous Fletcher Place. These 450 units are achieving over $1,500/month on average showing strong demand for the area by young professionals at nearby top employers. 1354 Shelby Street is also located just 5-minutes from the heart of downtown Indianapolis. This convenient locations allows easy access to the city’s main interstates, top employers, and most large attractions in Indianapolis. The city’s second largest employer, Eli Lilly and Company, is less than 5-minutes from the property giving access to over 10,000 employees in immediate proximity.

Exclusively Listed By

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