3819 Kentucky Avenue, Indianapolis, IN 46221

Property Description

This medical office building has 5128 ft.2 of usable space. Second floor is finished out. First floor is stripped to the studs but ready to go. It's framed for all the offices and bathrooms, just needs electrical wire and drywall. Electrical boxes remain. Small fire on the first floor and damages have been repaired. Insurance company had the whole first floor gutted to the studs. This amazing site has almost 3 acres (2.99). 310 foot of frontage on busy Kentucky Avenue. 30 parking spaces. All blacktop. Handicap spaces are already there. Zoned for office medical. Zoning allows many other uses. Has enough room for at least two more buildings. There's a 1700 square-foot home on the property with a garage. Home is not been lived in several years. Home would need to be complete rehab. Replacement cost on the medical office building would be well over $150 a square foot. The house on the property could be rehabbed for additional rental income. Easy access off Kentucky Avenue. Very modern looking building with a metal roof. HVAC system already there. Windows are boarded up, but there are some usable windows underneath the boards. That was done protecting existing windows. All utilities at site. Ready for someone with a little vision. Pull the comps on vacant land with over 300 feet of frontage on Kentucky Avenue and you'll see what a great value this is. Seller would consider contract with large down payment. I have the original blueprints. The property was built in 1994. Would be happy to share those blueprints with anyone interested. I have a PDF file that has them on. Seller is the original owner of the building and had it built to his specifications. Building cost over 400,000 in 1994. Imagine what those costs would be today.