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517-521 E Walnut St 9,400 SF Retail Building Indianapolis, IN 46202 $2,500,000 ($265.96/SF)
Investment Highlights
- Prime Downtown Location: Situated just steps from Massachusetts Avenue, the property benefits from exceptional visibility
- C4 Zoning for Diverse Uses: Broad permitted use options make this property ideal for operators seeking retail, hospitality, office, or healthcare
- Dynamic Growth Area: Located in Chatham Arch, one of Indianapolis’ most rapidly developing neighborhoods, surrounded by restaurants, and boutiques
- Flexible Multi-Level Layout: The approximately 9,000 square feet across two floors and a full basement provides adaptability for retail, or showroom
- Rooftop Expansion Potential: The building’s structure supports the possibility of a rooftop addition, offering panoramic skyline views
Executive Summary
"Prime Commercial Property off Mass Ave in Indianapolis’ Chatham Arch Neighborhood
Located just off Massachusetts Avenue, this versatile two-story commercial property with a full basement offers approximately 9,000 square feet of highly adaptable space. Positioned in the heart of the vibrant Chatham Arch neighborhood, the building sits within one of Indianapolis’ most active and desirable commercial corridors—an area defined by strong foot traffic, redevelopment, and a dynamic mix of restaurants, retail, and cultural venues.
Currently operating as a furniture and home store, the property’s C4 zoning supports a wide variety of potential uses, including retail, office, healthcare, personal services, and food and beverage establishments. Additionally, the property offers the potential for a rooftop addition, allowing for spectacular city skyline views and the opportunity to create a truly distinctive space."
Located just off Massachusetts Avenue, this versatile two-story commercial property with a full basement offers approximately 9,000 square feet of highly adaptable space. Positioned in the heart of the vibrant Chatham Arch neighborhood, the building sits within one of Indianapolis’ most active and desirable commercial corridors—an area defined by strong foot traffic, redevelopment, and a dynamic mix of restaurants, retail, and cultural venues.
Currently operating as a furniture and home store, the property’s C4 zoning supports a wide variety of potential uses, including retail, office, healthcare, personal services, and food and beverage establishments. Additionally, the property offers the potential for a rooftop addition, allowing for spectacular city skyline views and the opportunity to create a truly distinctive space."
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
9,400 SF
Building Class
C
Year Built
1900
Price
$2,500,000
Price Per SF
$265.96
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
10’
Building FAR
2.70
Lot Size
0.08 AC
Opportunity Zone
Yes
Zoning
C-4 - Commercial
Frontage
71’ on E Walnut St
Exceptionally walkable
90/100
Fairly drivable
50/100
Some public transit
50/100
Exceptionally bikeable
90/100
Nearby Major Retailers
![[solidcore]](https://images1.loopnet.com/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
Property Taxes
| Parcel Number | 49-11-01-168-013.000-101 | Improvements Assessment | $872,600 |
| Land Assessment | $37,600 | Total Assessment | $910,200 |
Property Taxes
Parcel Number
49-11-01-168-013.000-101
Land Assessment
$37,600
Improvements Assessment
$872,600
Total Assessment
$910,200
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517-521 E Walnut St