1525 W 14th St - Apartments FOR SALE


Anderson, IN 46016
$500,000 USD
317-255-3900
1525 W 14th St, Anderson, IN for Sale
$500,000 USD
Apartments - FOR SALE
1/18
null | 10% Cap Rate

1525 W 14th St
Anderson, IN 46016


HIGHLIGHTS

  • Ample parking.
  • Short drive or long walk to everything in downtown Anderson – shopping, restaurants, office, etc.
  • Located in TWO district government incentivized zones – New Market Tax Credit and Qualified Opportunity Zone.
  • R3 zoning will allow up to 25 units on this property. We believe the best use is to convert the property into Apartment Homes or Senior Housing.
  • Other uses such as Self Storage, Warehousing, or a School would require a change in zoning.

OVERVIEW

Shadeland School is a 2-story, brick and limestone exterior building with attached gymnasium located near downtown at 1525 W. 14th Street, Anderson, IN 46016. This property is currently zoned R3 which will allow up to 25 apartment units. The property currently includes 18 classrooms and a full-size gymnasium. It has ample parking and is a short drive or long walk to everything in downtown Anderson – Shopping, Restaurants, Office, etc. There are several employers in the area including Community Hospital Anderson, St. Vincent Health, Nestle USA, Borg Warner Indiana Technical Center and Harrah’s Hoosier Park Racing. The building was built in 1923. This would be ideal for Workforce Housing, Apartment Homes, or Senior Housing. Other uses such as Self Storage, Warehousing, or a School would require a change in zoning. The property is located at 1525 W. 14th Street, Anderson, IN. It is 1.5 miles to downtown Anderson. Shadeland School is close to The Anderson Museum of Art, Paramount Theatre, and beautiful parks for leisure activities. Anderson University is a short 2.4 mile, seven minute drive away.

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$14 USD /SF

# OF UNITS

25

PRICE/UNIT

$20,000

CAP RATE

10%

% LEASED

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Shadeland School Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1923

PARKING SPACES

108

LAND DETAILS

LAND ACRES

1.98 AC

LAND SF

86,249 SF

ZONING

R3

APN/PARCEL ID

48-11-14-103-149.000-003

ASK ABOUT THIS PROPERTY

Michael DrewBradley CompanyMore Info
317-255-3900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Michael DrewBradley CompanyMore Info
317-255-3900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.