1717 Prospect St, Indianapolis, IN 46203
This exceptional 1,400,000 USD property located at 1717 Prospect St, Indianapolis, IN 46203, presents a rare development opportunity in the vibrant Fountain Square neighborhood. The land is zoned D8, permitting both commercial and residential uses. Currently, the property is ready for townhouse development, with existing plans available for 17 condo/townhome style units. These plans, included in the sale, project a price point between 500,000 USD and 700,000 USD per unit. Alternatively, buyers are free to design their own development project, tailoring it to their specific vision. The property's location in Marion County offers excellent access to amenities and transportation. No showings are required; prospective buyers are encouraged to visit the site independently to assess its potential. This is a unique chance to capitalize on the growing demand for housing in this desirable Indianapolis neighborhood. The latitude and longitude coordinates are 39.75240745324262, -86.13008882407306 respectively.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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
No recorded transactions found for this property.
Costs & 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.