123 Michigan St Indianapolis, IN 46204
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.
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123 E Michigan St Parking Parking Lot & Garage
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
ZO01 · Indianapolis, INCosts & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.