Improved Commercial Land for Sale in Indianapolis, Indiana
5450 W 86th St, Indianapolis, IN 46268
This 3.05-acre property presents a fantastic value-add opportunity with both retail and industrial components, offering versatility and potential for increased returns. The retail site, zoned C4, consists of 15,000 square feet and is currently configured with 8 units, with the potential to be converted into 9 units. Most spaces are built out but would benefit from CAPEX improvements to modernize and maximize rental income. The industrial building, zoned I4, offers 6,300 square feet and is ideal for various industrial uses, providing flexibility for owner-users or tenants. This property is perfect for investors looking to enhance value through renovations and lease-up strategies. With strong zoning designations and ample space for improvements, this site is ready for its next phase of growth!
Location
- Street address
- 5450 W 86th St
- County
- Marion County
- Community
- Marion - Pike
- School district
- Pike County School Corp
- Elevation
- 886 feet
Property details
- Acreage
- 3.05 acres
- Zoning
- I4 - C4
- MLS #
- MIBOR 22033393
- Posted
Parcels
- 490413109039000600
Legal description
5450 West 86th Street L1
Details and features
Listing
- Type
- Commercial Sale
- Subtype
- Retail
Exterior
- Fencing
- Fenced
- Features
- Fencing
Structure
- Heating
- Natural Gas
- Cooling
- Central Air
- Roof
- Flat
Property utilities
| Category | Type | Status | Description |
|---|---|---|---|
| Gas | Natural Gas | Connected | — |
Nearby schools
| Name | Level | District | Description |
|---|---|---|---|
| Pike Central Middle School | Middle | Pike County School Corp | — |
| Pike Central High School | High | Pike County School Corp | — |
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Sept 24, 2025 | Back on market | $2,500,000 | — | MIBOR |
| June 27, 2025 | Under contract | $2,500,000 | — | MIBOR |
| Apr 17, 2025 | New listing | $2,500,000 | — | MIBOR |