821 E 38th Street Indianapolis, IN $ 499,900
821 E 38th Street
$ 499,900
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821 E 38th Street

Indianapolis, IN, 46205
$ 499,900
Bedrooms-- Baths-- Sq 900

Monthly Estimate*

$ 3,453

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Commercial Property for sale in Indianapolis, IN

for $499,900. This 900 square foot building was built in 1968 on a lot size of 0.61.

Proudly presenting this prime redevelopment opportunity on busy East 38th Street directly across from the Indiana State Fairgrounds. This 0.61-acre commercial land parcel is fully paved and strategically positioned on the corner of East 38th Street and Guilford Avenue, offering approximately 200 feet of frontage on 38th Street and 124 feet on Guilford Avenue. The property features three street cuts for excellent accessibility - two access points from 38th Street and one from Guilford Avenue. Currently operating with a tenant-occupied convenience store, the existing structure may continue generating income, be renovated, or potentially torn down for new development. Zoned "Multi-Use," this site offers exceptional flexibility for a wide variety of projects, including: * Apartments / Multifamily Housing * Mixed-Use Developments with Retail Below & Residential Above * Office Buildings * Restaurants & Cafes * Retail Stores * Medical Offices * Community Centers * Professional Service Businesses High-visibility location with strong traffic exposure makes this property ideal for investors, developers, and business owners seeking a premier urban corridor location in Indianapolis. Additional zoning variances for intended use may be possible; buyers are advised to verify all zoning and development possibilities with the City Zoning Department. Don't miss this rare opportunity to secure a versatile commercial corner in one of Indianapolis' most active growth corridors.

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Commercial Active

Price

$ 499,900

Property Type

Commercial

Taxes

$ 2,154

Style

Retail

Lot Size

0.61

Year Built

1968

Town/City

Indianapolis

County/Region

Marion

MLS | Web ID

22101527

Features
General
Utilities Electricity Connected Sewer Connected Water Connected
Possession Closing
Zoning MU
Year Built 1968
Stories Count 1
Township Center
Property Subtype Retail
Tax Year 2024
Current Use Retail
Building Name Smoke Shop Real Estate
County Marion
New Construction N
Property Type Commercial Sale
Facing Direction North
Possible Use Apt>20 Auto Misc Church Comm Mul Ten Medical/Dental Office Residential Restaurant Retail
Status Active
Directions GPS Friendly
City Indianapolis
High School District Indianapolis Public Schools
MLS Area 4910 - Marion - Center
Lot Size Square Feet 26503
Current Financing Exchange - 1031 Contract Conventional Lease Purchase LeaseW/Option MonthPymt Owner
Additional Parcels Y/N N
Standard Status Active
Tax Lot 490624124023000101
Legal Description Mendenhalls 38th Street Boulevard Add L5 Thru L8ex Tri Tr Ne Cor For St
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Exterior
Parking Features Common Asphalt Guest Other
Building Area Total 900
Lot Size Acres 0.61
Road Surface Type Asphalt
Road Frontage Type City Street County Road
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* Excluded Features
List By
Blue Flag Realty Inc

Broker

Office@BlueFlagRealty.Net

Email

Affordability Calculator

$3,632
Per Month
95%
5%
0%
Monthly Principal & Interest
$3,453
Monthly Property Taxes
$180
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4044905 Elementary School
4044909 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/12/2026$499,900 Listed Price

Map


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821 E 38th Street, Indianapolis, IN, 46205 is a Commercial Property for sale at $499,900 with 900 sqft and a lot size of 0.61. 821 E 38th Street was built in 1968. The property's zip code is 46205 which is in Indianapolis, IN