2501 Madison AVE Active Save Request In-Person Tour Request Virtual Tour
Indianapolis,IN 46225
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 6,982 sqft
Price per Sqft $94
MLS Listing ID 22050885
Year Built 1962
Tax Year 2024
Lot Size 0.320 Acres
Property Sub-Type Office
Property Description
Turnkey 6,982 SF freestanding Office Building. Multiple Entrances, Numerous Amenities, Private Parking Lot, and Recent Renovations. Rare opportunity in the revitalizing Garfield Park South neighborhood- just off Madison Avenue, where major infrastructure improvements are underway as part of a $45.2 million redevelopment plan stretching from Ray Street to Hanna Avenue. Offered at an Investor-friendly 8% CAP RATE! Built in 1962, the building underwent full interior renovations between 2018-2020, including full office build-outs, updated flooring, interior paint, mechanicals, and roofing. Flexible and functional layout. D5 zoning with a commercial variance. Ideal for owner-users or investors seeking multi-tenant potential. The building features a split-level floor plan with approximately 3,446 SF on each level. The main level includes: 9 private offices, a Reception desk and waiting area with 2 public entrances, 2 restrooms, Conference room, 2 secure equipment/storage rooms for security, cabling, or IT infrastructure. The lower level features 7.5-foot drop ceilings, and includes: 5 offices, Large open workroom and conference area, 1 restroom. Multiple CoWorking Offices/Areas throughout. The building has 3 separate entrances and 2 electric meters, making it easily divisible for 2-3 tenants. The main and lower levels are organized for a single occupant but could be reconfigured to accommodate multiple suites. Additional features include: Newer roof (2020), New gas furnaces (2019), High-tech security and camera system, Secure entry points throughout, 15 parking spaces onsite. Well-maintained, updated, move-in-ready asset in a fast-improving corridor-just minutes from downtown and surrounded by ongoing investment and development. Location Advantages: Approx- 6,818 AADT, Minutes from downtown Indianapolis - Close proximity to major commuter routes, 1.3mi to nearest I-65 exit, and easy access anywhere downtown and metro areas.
Location
State IN
County Marion
Zoning D-5
Interior
Heating Forced Air,Natural Gas
Cooling Central Air
Exterior
Utilities Available Cable Available,Electricity Connected,Sep Electric Meter,Sewer Connected,Water Connected
View Y/N true
View City,Downtown
Roof Type Flat,Membrane
Building
New Construction false
Schools
School District Indianapolis Public Schools