Downtown Indianapolis Commercial Real Estate Online Auction
Auction & Registration Details
Property Address: 118 W. North St., Indianapolis, IN 46204
Bid your price to own this downtown Indy commercial property in an Opportunity Zone with strong redevelopment potential as mixed-use or multi-family residential. This property not only has 15 private off-street parking spaces, it is also located between IUPUI Campus and the Mass Ave. corridor as well as being within 2 blocks of (2) IndyGo Red Line bus stops. The building features (2) 8,280 square foot floors, 180′ x 46′, (2) entrances off North Street, a freight elevator with an overhead door off the alley for direct loading/unloading and a clear span 2nd floor.
Due diligence documents and Auction Terms can be downloaded below. To discuss the property, auction process or to schedule an inspection, please reach out to Seth Seaton at sseaton@keyauctioneers.com or (317)450-6469.
Online Bidder Registration: To participate via our online bidding platform/mobile app you must be registered and approved to bid by Key Auctioneers. All bidders will be subject to fulfilling the following requirements prior to being approved to bid: 1) Bidders must execute the auction terms (you can do so by requesting a Docusign copy of the Auction Terms by emailing info@keyauctioneers.com with your name or executing the Auction Terms in the documents below and returning them to Seth Seaton at sseaton@keyauctioneers.com, along with a copy of a Government-issued Photo ID for the individual registering); 2) You will be required to remit the $50,000 down payment (in escrow) before you will be able to bid. Deposits will be returned within 2 hours of the auction ending if you were not the winning bidder.
| General Property Details | |
| Address | 118 West North Street, Indianapolis, Indiana 46204 |
| Zoning | CBD-2 (Central Business District) |
| Parcel Number | 49-11-02-107-035.000-101 |
| Lot Size | 0.32 acres |
| Frontage Area | 78′ on North Street |
| Building Size | 16,560 square feet (8,280 per floor) |
| Construction Type | Concrete block / Masonry |
| Roof Type | Flat membrane |
| Year Built | 1950 per Marion County Assessor |
| Clear Ceiling Height | 12′ |
| Overhead Doors | (2) Grade-level – 12′ X 15′ & Freight elevator loading door off alley |
| Elevator | Traction Freight Elevator, Capacity: 4,000#, Installed 1960 |
| Parking Lot | Paved asphalt / 15 off-street private parking spaces |
| Assessed Tax Value | $459,000 (2019 pay 2020) |
| Annual Taxes | $13,836.10 (2019 pay 2020) |
| Other Pertinent Data | 1st floor has center support columns / 2nd story is clear span |
| Property is well suited for redevelopment as mixed-use or flats. | |
| LOCATION: 3 blocks from IUPUI Campus / 7 blocks from Monument Circle & Mass Ave. / | |
| (2) IndyGo Red Line bus stops within 2-3 blocks on Capitol Ave. (9th St. & Virginia Ave.) | |
General Auction Terms
Required Down Payment: $50,000 (held in escrow), increased to 10% within 3 business days.
Closing Time: 30 days after auction (November 13, 2020)
Tax Administration: Prorated to date of closing.
10% Buyer’s Premium
Licenses: Seth Seaton: AU10900115 Auction Co: AC30900124
Seller: Teresa Dawn Freije Revocable Trust dated 01/22/1999
Map and Directions
