401 Michigan St Indianapolis, IN 46202-3233

Property Details for 401 Michigan St

Year built

1984

Construction

TYPE NOT SPECIFIED

Lot size

0.99 lot acres

Property size

23,098 SF

Zone code

ZO01

Property type

Commercial real estate

APN

49-11-02-221-002.000-101

APU

491102221002000101

Description

This exceptional redevelopment opportunity presents a 1.63-acre canal-front site in Indianapolis's vibrant downtown, featuring a two-level, 29,517-square-foot office building (16,708 SF street level, 12,809 SF canal level). Built in 1984 and renovated in 1995, the property boasts 200 feet of frontage on West Michigan Street and approximately 370 feet of canal frontage. The Class B building includes 55 on-site parking spaces (1.86 spaces per 1,000 sq ft) and offers excellent signage opportunities. The site is zoned CBD-2, Regional Center, and Central Business District, making it ideal for various uses, including hotel or student housing development. Its prime location is a half-block east of Indiana University and Purdue University Indianapolis's main entrance, benefiting from their planned campus expansions. Nearby amenities include recently constructed hotels (Homewood Suites and Hampton Inn, totaling 230 rooms), restaurants, retail, and other downtown attractions. The property also includes approximately 10,000 square feet of green space on the canal level, offering additional development potential. This is a rare chance to acquire a significant property in a rapidly growing area. APN: 1101538, 1101545, 1101548.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Longitude

-86.1656

Latitude

39.7739

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments