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    631 Michigan St Indianapolis, IN 46202

    Sponsored
    For Lease
    Contact for pricing

    Prime Indianapolis retail, 4,733 SF, 40 parking spaces.

    Lot size:
    4,733 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional free-standing retail property, located at 631 E Michigan St in Indianapolis, Indiana, presents a unique opportunity for a discerning tenant. Boasting a total of 4,733 square feet in a single suite, this 1-story, 1930-built building sits on a 0.28-acre lot and offers ample parking with 40 spaces. The property is zoned HP-1 and its APN is 49-11-01-181-025.000-101. Situated in the heart of Lockerbie Square, a vibrant submarket cluster within the Indianapolis CBD, this location benefits from exceptional visibility and accessibility. The property is located on a high-traffic intersection, providing excellent exposure to both inbound and outbound traffic along Mass Ave and the central business district. Its proximity to Bottleworks, a popular destination, further enhances its appeal. The building's iconic location offers potential for outdoor dining areas, capitalizing on the high residential density of the surrounding neighborhood. This rare opportunity combines a desirable location with substantial space and ample parking, making it an ideal space for a variety of retail uses. The minimum and maximum contiguous square footage available is 4,733 square feet.

    Property Features for 631 Michigan St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,733 SF

    Building Details

    Year Built
    1930
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    4,733 SF

    HighLights

    • Prime Lockerbie Square location.
    • High visibility from street.
    • Ample off‑street parking (up to 40 vehicles).
    • Convenient access to Mass Ave & CBD.
    • Short distance to Bottleworks District.
    Property Profile Location Intelligence

    Current Use by Public Records

    Emergency Veterinarian Indianapolis Veterinarian

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1457427
    Latitude
    39.7736703

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    FAQs

    What type of property is this?
    Individual retail property - Prime Indianapolis retail, 4,733 SF, 40 parking spaces.
    Where is this individual retail property located?
    The property is located at 631 Michigan St Indianapolis, IN.
    What are key features of this property?
    This property features: Prime Lockerbie Square location.; High visibility from street.; Ample off-street parking (up to 40 vehicles).
    Request Owner's contact information
    631 Michigan St 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
    631 Michigan St Indianapolis, IN 46202
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