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    2181 N Capitol Ave Indianapolis, IN 46202

    For Sale
    $250,000

    Land, Other - Indianapolis, IN

    Lot size:
    0.21 Acres
    Days on Market:
    42
    Last Refresh:
    Dec 8 at 10:06 pm

    Property Features for 2181 N Capitol Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    D8
    APN
    490626125031001101
    Lot size
    0.21 Acres

    Building Details

    Architectural style
    Other

    Engel & Völkers Indianapolis (317) 585-3575 [email protected]

    Listing agent Matthew Steed (317) 585-3575

    Listing date Oct 28, 2025

    MLS# 22068132 Listing URL

    Copyright © 2025 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Development Opportunity Near IU Health

    This 0.24-acre vacant lot, with approximately 60 feet of frontage on Capitol and 150 feet of depth on 22nd, presents a prime development opportunity near the new IU Health Downtown Hospital and Methodist Campus expansion. Zoned D-8, the property is suitable for multi-family development, including townhomes, duplexes, or a small apartment or quadplex project. Located in the Near North corridor, it offers convenient access to Downtown Indianapolis, I-65, I-70, and the 16th Street commercial corridor. The property's location provides proximity to healthcare, education, and employment centers. Situated within walking distance of IU Health's $1.6 billion hospital project, scheduled to open in 2027, the site benefits from ongoing redevelopment and strong housing demand. All city utilities are available nearby. This infill opportunity is positioned to benefit from Indianapolis' urban growth, driven by the expanding hospital workforce and downtown professionals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.161306
    Latitude
    39.796892

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    FAQs

    What type of property is this?
    Land - 0.24-acre vacant lot ideal for multi-family development.
    Where is this land located?
    The property is located at 2181 N Capitol Ave Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Prime location steps from the $1.6-billion IU Health Downtown Hospital expansion (opening 2027), creating strong rental/resale demand.; - Zoned D-8, supporting multi-family development (townhomes, duplexes, apartments).; - Vacant 0.24-acre infill lot with 60 ft frontage x 150 ft depth, a rare opportunity in a growing area.
    (317) 585-3575
    Request Owner's contact information
    2181 N Capitol Ave Indianapolis, IN 46202
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    Indianapolis, IN 46202
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2181 N Capitol Ave Indianapolis, IN 46202
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