12895 N Old Meridian St
Carmel, IN 46032
Carmel Development Site | Indianapolis MSA · Land For Sale · 4.40 AC

Capstone Apartment Partners is pleased to present the Carmel Development Site, a unique opportunity for developers in the heart of one of Indiana's most affluent neighborhoods. This sprawling 4.4-acre property boasts an unparalleled location within Indiana’s most vibrant mixed-use submarket. With nearby new-construction apartments fetching record rents while also boasting near-perfect occupancy, the site capitalizes on the area's strong fundamentals and attractive tenant demographics–average one-mile household income is an impressive $108,000. Additionally, the development process is significantly streamlined thanks to a secured $9.5 million Tax Increment Financing (TIF) agreement and city planning approval, making this an exceptional chance to capitalize on one of Carmel's last undeveloped sites. With its prime location, strong demographics, and expedited development timeline, this property presents a perfect fit for investors looking to enter this desirable market.