Mixed-Use Investment
For Sale
Contact for pricing
536 E MARKET ST, Indianapolis, IN 46202
Well-maintained mixed-use property with elevator, dry sprinkler system, LED lighting, and parking, zoned CBD-2 for retail, office, or multifamily.
Property Size20,952 SF
Price / SF$186.14
Days on Market52
Property Features for 536 E MARKET ST
General Information
Standard status
Active
Size
20,952 SF
Property subtype
Retail, Multifamily, Office
Zoning
CBD-2
Additional Details
Business Included
Yes
Sprinkler System
Yes
Building Details
Year Built
1930
Listing Agency:
KW Commercial Indy Metro South
(317) 882-5900
Listed By:
Shelly Johnson · License #IN RB14043056
Source:
Crexi
Added: Jun 15
Changed: Jul 10
Last Checked: Aug 4 at 1:17PM
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
Investment Insights
Based on property information with market context.
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.
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.
Key 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
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| 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
NOI $276,629 @ 7.0% cap · market cap 7.09%
Second Best
Retail
$3.22M
$2.82M – $3.76M
NOI $225,452 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$5.22M
$4.56M – $6.08M
NOI $365,068 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
5,299
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Office in Indianapolis, IN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 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
- Smith Florist — 42 Virginia Ave, Indianapolis, IN 46204
Frequently Asked Questions
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
