2305 E Michigan St - Flex FOR SALE


Indianapolis, IN 46201- Near Eastside
$575,000 USD
317-504-2663
2305 E Michigan St, Indianapolis, IN for Sale
$575,000 USD
Flex - FOR SALE
1/31
null | Request Cap Rate

2305 E Michigan St
Indianapolis, IN 46201
Near Eastside


HIGHLIGHTS

  • Great Value Add CAP Rate
  • Great Location With Good Traffic Pattern
  • Minimal Maintenance - Everything Is NEW!

OVERVIEW

Excellent investment opportunity featuring a fully renovated mixed-use property completed in 2025. The building consists of one commercial space and three high-quality residential units, offering a balanced income stream with additional upside potential. All three apartments are currently leased and generate a 5.84% CAP rate based on in-place residential income. Each unit showcases premium finishes throughout, including high-end countertops, stainless steel appliances, modern bathrooms, and quality flooring. The recent renovation delivers a true “like-new” asset with minimal near-term capital expenditures. The commercial space is intentionally vacant, providing flexibility for an owner-user or the opportunity to lease at market rates. At a projected lease rate of $10.00/SF NNN (approximately $1,500/month), the property achieves an estimated 8.97% CAP rate, creating a clear and immediate value-add opportunity for investors. Located in a centralized area with strong accessibility, the property supports both residential and retail/office demand. Zoned MU-1 (Marion County), this asset offers versatile use options—ideal for investors seeking stable income with upside potential, or an owner-operator looking to occupy the commercial space while benefiting from in-place residential cash flow.

FOR SALE DETAILS

PRICE

$575,000 USD

PRICE/SF

$110 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Flex

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09

LAND SF

3,920

ZONING

MU-1 Marion County

APN/PARCEL ID

49-10-06-117-042.000-101

ASK ABOUT THIS PROPERTY

Albert StancatoHighgarden Real Estate, Inc.More Info
317-504-2663

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Albert StancatoHighgarden Real Estate, Inc.More Info
317-504-2663

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.