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Vacant-User

Redevelopment Opportunity

1815 -1831 Albany Street, Beech Grove, IN 46107

Listing Price: Request For Offer

Gross SF
35,200
Rentable SF
35,200
Lot Size
4.07 acres
Year Built
1977

Investment Overview

Marcus & Millichap is pleased to exclusively offer this 33,000-square-foot freestanding vacant supermarket and a 2,200-square-foot vacant restaurant with drive-thru capability. The buildings are conveniently located at 1815-1831 Albany Street in Beech Grove (Marion County), Indiana in a densely populated residential area, less than seven miles southeast of downtown Indianapolis. The property sits at the intersection of North 18th Avenue and Albany Street with excellent visibility and easy access to each of the properties from both streets. There is a Walgreens directly across from the site. The subject property provides value-add opportunity through lease up or via redevelopment and repurposing of the properties. Marion County just recently passed a new Zoning Ordinance that allows ?exible zoning for the property. The zoning classi?cations include D-5 (Dwelling District Five), MU-1 (Mixed-Use One District), C-1 (Of?ce-Buffer District) and C-3 (Neighborhood Commercial District). D-5 is intended for medium and large-lot housing formats, primarily for detached houses, but may incorporate small-scale multi-unit building types in strategic locations. MU-1 is intended for the development of high-rise of?ce uses and apartments intermixed, grouped in varying combinations or provided in the same building and C-3 is for the development of an extensive range of retail sales and personal, professional and business services required to meet the demands of a fully developed residential neighborhood, regardless of its size. The C-1 District is designed to perform two functions: act as a buffer between uses, and provide for a freestanding area that of?ce uses, compatible of?ce-type uses, such as medical and dental facilities, education services, and certain public and semipublic uses may be developed with the assurance that retail and other heavier commercial uses with incompatible characteristics will not impede or disrupt. 1815-1831 Albany Street is being auctioned via Ten-X.com on January 31-Feb 2, 2022. Visit the website for more information and to review property documents. Auction Website: https://www.ten-x.com/listing/1815-1831-albany-st-beech-grove-in-46107/1000015465/

Investment Highlights

  • Hard Corner Location with Easy Access from Main Road
  • New Supermarket or Redevelopment Opportunity
  • Excellent Visibility
  • Conveniently Located in a Densely Populated Residential Area
  • Less Than 15 Minutes from Downtown Indianapolis

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Vacant-User

Redevelopment Opportunity

Listing Price: Request For Offer

Gross SF
35,200
Rentable SF
35,200
Lot Size
4.07 acres
Year Built
1977

Investment Highlights

  • Hard Corner Location with Easy Access from Main Road
  • New Supermarket or Redevelopment Opportunity
  • Excellent Visibility
  • Conveniently Located in a Densely Populated Residential Area
  • Less Than 15 Minutes from Downtown Indianapolis

Investment Overview

Marcus & Millichap is pleased to exclusively offer this 33,000-square-foot freestanding vacant supermarket and a 2,200-square-foot vacant restaurant with drive-thru capability. The buildings are conveniently located at 1815-1831 Albany Street in Beech Grove (Marion County), Indiana in a densely populated residential area, less than seven miles southeast of downtown Indianapolis. The property sits at the intersection of North 18th Avenue and Albany Street with excellent visibility and easy access to each of the properties from both streets. There is a Walgreens directly across from the site. The subject property provides value-add opportunity through lease up or via redevelopment and repurposing of the properties. Marion County just recently passed a new Zoning Ordinance that allows ?exible zoning for the property. The zoning classi?cations include D-5 (Dwelling District Five), MU-1 (Mixed-Use One District), C-1 (Of?ce-Buffer District) and C-3 (Neighborhood Commercial District). D-5 is intended for medium and large-lot housing formats, primarily for detached houses, but may incorporate small-scale multi-unit building types in strategic locations. MU-1 is intended for the development of high-rise of?ce uses and apartments intermixed, grouped in varying combinations or provided in the same building and C-3 is for the development of an extensive range of retail sales and personal, professional and business services required to meet the demands of a fully developed residential neighborhood, regardless of its size. The C-1 District is designed to perform two functions: act as a buffer between uses, and provide for a freestanding area that of?ce uses, compatible of?ce-type uses, such as medical and dental facilities, education services, and certain public and semipublic uses may be developed with the assurance that retail and other heavier commercial uses with incompatible characteristics will not impede or disrupt. 1815-1831 Albany Street is being auctioned via Ten-X.com on January 31-Feb 2, 2022. Visit the website for more information and to review property documents. Auction Website: https://www.ten-x.com/listing/1815-1831-albany-st-beech-grove-in-46107/1000015465/

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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