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2121 Madison Avenue

Indianapolis, IN 46225

ActiveListed Jun 16, 2026 · 120 days on market

Key facts

Living area
4,380 sqft
Lot
0.36 acres
Year built
1944
Type
Commercial Sale · Mixed Use
MLS #
22107440
County
Marion
Total building area
4,380 sqft

About this home

Rare four-parcel mixed-use offering totaling 0.36 acres (15,682 SF) in a rapidly appreciating near-south Indianapolis corridor, easy interstate access, minutes from downtown, Fountain Square, and Bates-Hendricks. The 4,380 SF two-story building provides flexible owner-user space: a ground-floor office and rear warehouse served by a drive-in door (10' W x 9' H, with height-expansion potential), plus a recently renovated upper-level 2-bed/1-bath apartment suited to live-work use or rental income. Heating is provided by a functional boiler-and-radiator system; newer roofing covers the front office and residential portions, while the rear warehouse has an older flat roof. Three of the four contiguous, separately platted lots are vacant, offering expansion, parking, or redevelopment flexibility amid active land assembly in the immediate area. Delivered vacant for immediate occupancy - a versatile value-add or assemblage opportunity. Buyer to verify zoning and square footage.

Description provided by the listing brokerage.

Exterior

Parking and garage
Alley AccessAttachedGarage Door OpenerGuestGarage Faces RearStorageTandem

Systems

Utilities
Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected

Lot and HOA

Zoning
C-3

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$2,540 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$1,964per month, estimated
Principal and interest $1,638Property tax $212Insurance $114
20% · $65,000
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, 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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Listed at$325,000
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