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1628 E Bates St 6,232 SF 100% Leased Industrial Building Indianapolis, IN 46201 $1,600,000 ($256.74/SF)
Investment Highlights
- Near downtown
- Development potential
Executive Summary
Located in the highly desirable Fountain Square neighborhood, 1628 Bates St. presents a prime opportunity for investors or developers looking to capitalize on one of Indianapolis's most active growth corridors. Surrounded by a strong mix of renovated homes and new construction, this property sits in an area where demand continues to rise thanks to its proximity to downtown, the Fountain Square commercial corridor, and major commuter routes. Whether you're looking for your next redevelopment project, a potential new build site, or a strategic buy-and-hold investment, the possibilities here are significant. The lot offers strong upside in a neighborhood with continued infill development and revitalization driving momentum. Bring your vision and take advantage of the location, the growth, and the opportunity that this property has to offer.
Please note that a new roof system, gutters, and roll up garage door are being installed on the main building. Painting and tuckpointing on this building are also underway. Sale includes lots 49-10-07-106-001.000-101, 49-10-07-106-002.000-101, 49-10-07-106-003.000-101, 49-10-07-106-004.000-101, and 49-10-07-106-007.000-101.
Property being sold as-is, including zoning. Seller cannot close before 6/1/26. All noted repairs will be complete prior to closing.
Please note that a new roof system, gutters, and roll up garage door are being installed on the main building. Painting and tuckpointing on this building are also underway. Sale includes lots 49-10-07-106-001.000-101, 49-10-07-106-002.000-101, 49-10-07-106-003.000-101, 49-10-07-106-004.000-101, and 49-10-07-106-007.000-101.
Property being sold as-is, including zoning. Seller cannot close before 6/1/26. All noted repairs will be complete prior to closing.
Property Facts
| Price | $1,600,000 | Lot Size | 0.46 AC |
| Price Per SF | $256.74 | Rentable Building Area | 6,232 SF |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Industrial | Year Built | 1908 |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 1 |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | I3 | ||
| Price | $1,600,000 |
| Price Per SF | $256.74 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.46 AC |
| Rentable Building Area | 6,232 SF |
| No. Stories | 1 |
| Year Built | 1908 |
| No. Drive In / Grade-Level Doors | 1 |
| Opportunity Zone |
Yes |
| Zoning | I3 |
Amenities
- Controlled Access
- Courtyard
- Fenced Lot
- Storage Space
- Air Conditioning
- Perimeter Security Fence
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 49-10-07-106-004.000-101 | Improvements Assessment | $158,500 |
| Land Assessment | $9,100 | Total Assessment | $167,600 |
Property Taxes
Parcel Number
49-10-07-106-004.000-101
Land Assessment
$9,100
Improvements Assessment
$158,500
Total Assessment
$167,600
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1628 E Bates St