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    5133 Gray Rd Indianapolis, IN 46237

    For Sale
    $1,353,000

    Unimproved Land - Indianapolis, IN

    Type:Unimproved Land
    Lot size:
    8.21 Acres
    Days on Market:
    134
    Last Refresh:
    Dec 8 at 9:06 pm

    Property Features for 5133 Gray Rd

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    Zoning
    DA
    APN
    491504122002000500
    Lot size
    8.21 Acres

    Building Details

    Architectural style
    Other

    Titan Real Estate (317) 432-3061 [email protected]

    Listing agent Gary Boehle (317) 432-3061 License #RB14029275

    Listing date Jul 28, 2025

    MLS# 22053287 Listing URL

    Copyright © 2025 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.

    Overview

    Corner Lot on Shelbyville Road

    This is an 8.21-acre corner lot located at an intersection with a stop light. The property has frontage on Shelbyville Road. It is zoned DA. The site may be suitable for a school, church, park, or possibly a residential development, subject to obtaining the appropriate approvals. Utilities are presumed to be available at the lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    -86.096474
    Latitude
    39.692056

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    FAQs

    What type of property is this?
    Land - Large corner lot suitable for various developments with approvals.
    Where is this land located?
    The property is located at 5133 Gray Rd Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $1,353,000.
    What are key features of this property?
    This property features: - Large corner lot with high visibility due to stop light intersection.; - Significant frontage on Shelbyville Road.; - Ideal for development as a school, church, or park (subject to approvals).
    (317) 432-3061
    Request Owner's contact information
    5133 Gray Rd Indianapolis, IN 46237
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    Indianapolis, IN 46237
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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
    5133 Gray Rd Indianapolis, IN 46237
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