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2305 E Michigan St 5,205 SF Retail Building Indianapolis, IN 46201 $799,584 CAD ($153.62 CAD/SF) 5.84% Cap Rate
Investment Highlights
- Great Value Add CAP Rate
- Minimal Maintenance - Everything Is NEW!
- Great Location With Good Traffic Pattern
Executive Summary
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.
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.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,205 SF
Building Class
C
Year Built
1920
Price
$799,584 CAD
Price Per SF
$153.62 CAD
Cap Rate
5.84%
NOI
$46,696 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
1.33
Lot Size
0.09 AC
Zoning
MU-1 Marion County - Mixed Use Zoning - See Zoning Use Table Attached To This Listing.
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-10-06-117-042.000-101 | Improvements Assessment | $214,219 CAD |
| Land Assessment | $11,421 CAD | Total Assessment | $225,640 CAD |
Property Taxes
Parcel Number
49-10-06-117-042.000-101
Land Assessment
$11,421 CAD
Improvements Assessment
$214,219 CAD
Total Assessment
$225,640 CAD
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2305 E Michigan St
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