4-Unit Retail
For Sale
$149,000
3427 W Michigan Street, Indianapolis, IN 46222
SINGLE_FAMILY - Indianapolis, IN
Property Size6,022 SF
Lot Size0.26 Acres
Price / SF$24.74
Days on Market124
Property Features for 3427 W Michigan Street
General Information
Property type
Residential
Property subtype
Retail
Zoning
C-3
Elementary school district
MSD Wayne Township
Middle school district
MSD Wayne Township
High school district
MSD Wayne Township
Directions
GPS Friendly
Subdivision
4909 - Marion - Wayne
Standard status
Active
APN
491105125050000901
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Malvern Add 83.50Ft N End Of W 1/2 L21also 82.3 Ft N End L22
Legal Description
Malvern Add 83.50Ft N End Of W 1/2 L21also 82.3 Ft N End L22
Building Details
Year built
1900
Listing Agency:
Keller Williams Indy Metro S · Keller Williams Realty
(317) 882-5900
Listed By:
Jaskaran Jossan · License #RB21000870
(317) 882-5900
Added: Mar 31
Changed: Aug 1
Last Checked: Aug 1 at 12:06PM
MLS# 22092573
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-unit commercial retail property is sold as-is and will require significant improvements. The offering includes 6,022 SF of commercial space across four total units situated on 0.26 acres across two parcels. The building is not currently rent-ready, making it best suited for investors looking for a project-based asset and renovation/repositioning plan.
The property is located along W Michigan St with AADT of 11,156, supporting visibility and convenient access. It is minutes from downtown Indianapolis, and it includes C-3 zoning, which the seller notes supports a wide variety of commercial uses.
Built in 1900, the site offers flexibility for multi-tenant leasing, owner-user occupancy, or mixed-use repositioning strategies. The seller also notes that rezoning may be possible depending on the buyer’s intended project scope.
The property is located along W Michigan St with AADT of 11,156, supporting visibility and convenient access. It is minutes from downtown Indianapolis, and it includes C-3 zoning, which the seller notes supports a wide variety of commercial uses.
Built in 1900, the site offers flexibility for multi-tenant leasing, owner-user occupancy, or mixed-use repositioning strategies. The seller also notes that rezoning may be possible depending on the buyer’s intended project scope.
Key Highlights
- 6,022 SF retail property across four total units
- 0.26 acres across two parcels
- Zoned C‑3 supporting a wide variety of commercial uses
Property Analytics
Property Profile
Current Use
Lease Details
11,156 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 46222, IN
37,185
Population
15,782
Households
2.4
Avg Household Size
31
Median Age
17%
College-Educated
78%
High-School Grad
11.0 sq mi
ZIP Area
3,380
Density / Sq Mi
$45,198
Median Household Income
$30,548
Median Earnings
$1,050
Median Rent
$104,300
Median Home Value
Market
Vacancy Rate% for Retail in Indianapolis, IN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Zoned C-3 and sold as-is, this 4-unit retail property is positioned for renovation and future leasing potential.
Where is this retail space located?
The property is located at 3427 W Michigan Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 6,022 SF retail property across four total units; 0.26 acres across two parcels; Zoned C‑3 supporting a wide variety of commercial uses
