Mixed-Use Investment Building

536 E MARKET ST, Indianapolis, IN 46202

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Well-maintained mixed-use property with elevator, dry sprinkler system, LED lighting, and parking, zoned CBD-2 for retail, office, or multifamily.

Type:Retail, Multifamily, Office

Property size:

20,952 SF

Price / SF:

$186/SF

HighLights

1930‑built, well‑maintained mixed‑use property with over 20,000 SF
Zoned CBD‑2, supporting retail, office, and multifamily development options
Tenant‑in‑place for immediate income
Building amenities include elevator service and a dry sprinkler system
Energy‑efficient LED lighting throughout and new AC units (last 5 years)
Over 20 paved parking spaces plus an additional gravel lot

We can help!

Listing Contact

Shelly Johnson

Learn more

For Sale

Contact for pricing

Well-maintained mixed-use property with elevator, dry sprinkler system, LED lighting, and parking, zoned CBD-2 for retail, office, or multifamily.

Type:Retail, Multifamily, Office

Property size:

20,952 SF

Price / SF:

$186/SF

Added:: Jun 15, 2026
Days on Market:: 6
Last Refresh:: Jun 20 at 5:24 am

Property Features for 536 E MARKET ST

General Information

Standard status: Active
Size: 20,952 SF
Property subtype: Retail, Multifamily, Office

Building Details

Year Built: 1930

We can help!

Listing Contact

Shelly Johnson

Listing agent Shelly Johnson License #IN RB14043056

Listing office KW Commercial Indy Metro South

Listing date Jun 15, 2026

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Indy Metro South

HighLights

1930‑built, well‑maintained mixed‑use property with over 20,000 SF
Zoned CBD‑2, supporting retail, office, and multifamily development options
Tenant‑in‑place for immediate income
Building amenities include elevator service and a dry sprinkler system
Energy‑efficient LED lighting throughout and new AC units (last 5 years)
Over 20 paved parking spaces plus an additional gravel lot

Overview

This well-maintained mixed-use investment property offers a versatile configuration supported by multiple building amenities. The building includes elevator service and a dry sprinkler system, with energy-efficient LED lighting throughout. New AC units were installed within the last five years, supporting day-to-day comfort and operational continuity. Off-site and on-site parking includes more than 20 paved spaces, plus an additional gravel lot that can accommodate more parking needs or future development concepts. Tenants are in place, providing immediate income as part of the current setup.

The property is located in the heart of Indianapolis in the Market East District. It is described as being minutes from Mass Ave, the Cultural Trail, Gainbridge Fieldhouse, and nearby dining options, supporting an active urban environment and convenient access to established destinations.

Zoned CBD-2, the site allows for a wide range of uses, including retail, office, and multifamily development. That flexibility can support a variety of ownership goals, whether you’re looking to keep existing tenants in place or plan for redevelopment or owner occupancy using a building that already includes key infrastructure like elevator service and a fire sprinkler system.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$452.6k	$21.60
− Vacancy	−$83.7k	−$4.00
EGI	$368.8k	$17.60
− OpEx	−$92.2k	−$4.40
NOI	$276.6k	$13.20

20,952 SF · lease $21.60/SF/yr · vacancy 18.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$3.95M

$3.46M – $4.61M (±1% cap)

NOI $276,629 @ 7.0% cap · market cap 7.09%

Second Best

Retail

$3.22M

$2.82M – $3.76M (±1% cap)

NOI $225,452 @ 7.0% cap · market cap 5.78%

Theoretical Best

Office A

$5.22M

$4.56M – $6.08M (±1% cap)

NOI $365,068 @ 7.0% cap · market cap 9.36%

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

Location Intelligence

Current Use by Public Records

Doris Research Research Institute HOPE COMMUNITY MINISTRIES ... Social Service Agency Krieg Brothers Religious ... Religious Bookstore

Suggested Use

Similar Places Nearby

Flower Boys — 702 Lexington Ave, Indianapolis, IN 46203
Marka Florist — 101 W Market St, Indianapolis, IN 46204
Touch of Class Florist | Send Flowers Indianapolis, IN — 48 E Washington St, Indianapolis, IN 46204
Anuheas Same Day Flower Delivery Inc. — 100 Illinois St, Indianapolis, IN 46225
Tims Same Day Flower Delivery Inc. — 121 W Maryland St, Indianapolis, IN 46225

Location Insight

Map
Local Demand

City: Indianapolis
County: Hamilton
State: Indiana
Longitude: -86.166309
Latitude: 39.777573

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For sale
Storefront properties
IN
Indianapolis
46202
536 E MARKET ST

What type of property is this?

Storefront property - Well-maintained mixed-use property with elevator, dry sprinkler system, LED lighting, and parking, zoned CBD-2 for retail, office, or multifamily.

Where is this storefront property located?

The property is located at 536 E MARKET ST Indianapolis, IN.

What is the asking price?

The asking price for this property is $3,900,000.

What are key features of this property?

This property features: 1930‑built, well‑maintained mixed‑use property with over 20,000 SF; Zoned CBD‑2, supporting retail, office, and multifamily development options; Tenant‑in‑place for immediate income