Key facts
- Living area
- 6,022 sqft
- Lot
- 0.26 acres
- Year built
- 1900
- Type
- Commercial Sale · Retail
- MLS #
- 22092573
- County
- Marion
- Total building area
- 6,022 sqft
About this home
4-Unit Commercial Value-Add Opportunity Located at 3423 & 3427 W Michigan St, this 6,022 SF commercial property sits on 0.26 acres across two parcels and includes four total units, presenting a strong value-add investment opportunity for renovation and repositioning. The property will require significant improvements and is not currently rent-ready, making it well suited for investors seeking a project-based commercial asset with future income potential. Zoned C-3, the site supports a wide variety of commercial uses, offering flexibility for multi-tenant leasing, owner-user occupancy, or mixed-use repositioning strategies. Positioned along W Michigan St (AADT: 11,156) and located minutes from downtown Indianapolis, the property benefits from strong visibility and accessibility. Following renovations and lease-up, the asset has the potential to become a cash-flowing multi-tenant commercial property. Rezoning may be possible depending on the buyer's intended project scope. The property is being sold in as-is condition.
Description provided by the listing brokerage.
Systems
- Utilities
Lot and HOA
- Zoning
- C-3
Schools
- School district
- MSD Wayne Township
Taxes
- Tax year
- 2024
Estimate your monthly payment
Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax at 1.0% of price (Indiana homestead-capped at 1%), homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.
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