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Property profile & analytics
OFF-MARKET
Parking lots & garages

123 Michigan St Indianapolis, IN 46204

3,550 SF 0.08 ac lot Built 1980
Entity Owned Free & Clear
Property ID
US31-3499816
Property summary
AI-generated overview

This exceptional 0.08-acre commercial land parcel, located at 123 E Michigan St in Indianapolis, Indiana (zip code 46204), presents a lucrative investment opportunity. Zoned CBD3, this property boasts 24 parking spaces and offers unparalleled flexibility. Currently without existing contracts, the site allows for immediate implementation of customized parking arrangements, catering to monthly rentals, short-term needs, or special event parking. The possibilities are vast, allowing for the creation of a highly profitable venture. Its prime downtown location provides exceptional accessibility to key Indianapolis attractions. Just three blocks from Mass Ave, Old National Centre, and The Rathskeller, and four blocks from Monument Circle, this property benefits from high foot and vehicle traffic. The asking price for this exceptional investment is $650,000. This is a rare chance to acquire a highly desirable, centrally located parking lot in a thriving urban environment. The property's potential for significant return on investment is undeniable.

Property profile
Verified
Property type Parking lots & garages
Use group PARKING LOT
Year built 1980
Total area 3,550 SF
Lot 0.08 ac (3,549 SF)
Zoning code ZO01
APN 49-11-01-137-004.000-101
UPID US31-3499816
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • 123 E Michigan St Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
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Blend (final) Blend
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Owner & transaction history
Civic Cir Properties INC
Civic Cir Properties INC
since 2025
7 recorded transactions
2025
Price N/A
2024
Price N/A
2024
$132,798
2009
Price N/A
2008
Price N/A
2007
Price N/A
2004
Price N/A
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source code of ordinances
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