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226 E Pendleton Avenue

Lapel, IN 46051

ActiveListed Jul 25, 2026 · 52 days on market

Key facts

Living area
1,883 sqft
Lot
0.13 acres
Year built
1953
Type
Commercial Sale · Retail
MLS #
22116394
County
Madison
Total building area
1,883 sqft

About this home

Downtown Lapel Commercial Property - C2 Zoning Excellent opportunity to own a versatile commercial property in the heart of downtown Lapel. Located at 226 E. Pendleton Avenue, this 1,770-square-foot commercial building sits on a 5,576-square-foot lot and is zoned C2 Downtown Commercial, allowing for a wide variety of retail, office, restaurant, and service-oriented uses. Constructed in 1947, the property offers an ideal setting for an owner-user, investor, or business looking to establish a presence in one of Madison County's growing communities. The C2 zoning district supports a pedestrian-friendly mix of commercial uses, including retail shops, boutiques, bakeries, cafes, restaurants, professional offices, financial services, medical and legal offices, and other compatible downtown businesses. Positioned along East Pendleton Avenue, the property benefits from strong visibility, convenient access, and proximity to local businesses and residential neighborhoods. Lapel's continued residential and commercial growth, along with convenient access to Pendleton, Anderson, Fishers, and Interstate 69, makes this an attractive location for a variety of business opportunities. C2 Downtown Commercial zoning: Suitable for retail, office, restaurant, cafe, bakery, professional services, and other permitted commercial uses. Downtown location with excellent visibility and accessibility Convenient access to surrounding communities and major transportation routes. This property presents an outstanding opportunity to establish or expand a business or add a well-located commercial asset to an investment portfolio.

Description provided by the listing brokerage.

Interior

Security
Security SystemSecurity System OwnedSmoke Detector(s)

Exterior

Roof
Shingle
Parking and garage
CommonGuest
View
Neighborhood

Systems

Heating
ElectricForced Air
Cooling
Central Air
Utilities
Cable AvailableElectricity ConnectedSewer ConnectedWater Connected

Lot and HOA

Zoning
C2 Downtown Commercial

Schools

School district
Frankton-Lapel Community Schools

Taxes

Estimated annual tax
$3,798 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$1,637per month, estimated
Principal and interest $1,235Property tax $317Insurance $86
20% · $49,000
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$245,000
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