1132 E. 16th Street
Monon 16 Redevelopment Site
Marketing description
Freestanding +/-1,536 sf former automotive building on 1/4 acre in hot Monon 16 district one block east of the Monon Trail and near the Bottleworks/Mass Ave/NorthMassBoulder district to the south.
Zoned C5. Ideal for restaurant, retail, automotive, etc, uses and/or residential redevelopment. Adjacent to recent $20m Monon Lofts development. Site is considered by Indy DMD to be located on "transportationally significant thoroughfare," which permits less stringent parking ratios.
The +/-1,836 sf stand-alone parcel at the northwest corner of Yandes and 16th that squares up this property is too small to be developed. The CDC (Renew Indy, Inc) that owns the parcel has notified us they are willing to sell it.
Owner willing to redevelop-to-suit for qualified operator and project. Up to 3,000 sf of retail available for long-term build-to-suit credit lease.
Investment highlights
Rare purchase opportunity near CBD with grandfathered-in 1,536+/- SF brick building on 1/3 acre parcel spanning city block. Explosive commercial and residential growth area. C5 zoning is a broad designation allowing for most retail uses, including automotive. Indy DMD offers encouragement for high-density mixed-use redevelopment.
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