Updated Oct 28, 2024
M Development Acquires Single Family Property In Indianapolis For $14.5M
4501 North Michigan Road, Indianapolis, Indiana 46228, United States
$14,500,000
$347/SF
Building Size
41,762 SF
Asset Type
Single Family Residence
Closing
Sep 15, 2022
About this deal
AI
The single-family property located at 4501 North Michigan Road in Indianapolis has been sold in a transaction. The property sits on a vast expanse of 168 acres, offering ample space for various activities. The sale price for this property was $14,500,000, indicating the value it holds in the market. With a total of 41,762 square feet, this property provides a substantial area for residents to utilize. The price per square foot for this transaction stands at $347.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $14,500,000
- Address: 4501 North Michigan Road, Indianapolis
- Market: Indianapolis
- Acres: 168
The buyer of this property is M Development, a notable player in the real estate market. Representing the buyer in this transaction is Mike Johnson from Encore Sotheby's International Realty and Stan Burton from Avison Young. These brokers played a pivotal role in facilitating this deal, ensuring a smooth process for all parties involved.
Players
Carmel Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93