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640 N Capitol Ave 55,000 SF Vacant Industrial Building Indianapolis, IN 46204 For Sale
Investment Highlights
- Asset Type: office, retail and industrial building
- Durable Historic Construction: sturdy, explosion proof, and architecturally unique offering a strong foundation for reuse.
- Building Size: ±55,000 SF including a 1st floor show room
- Parking: ±10 surface spaces
Executive Summary
640 N Capitol Ave is positioned along the Capitol Avenue corridor on the northwestern edge of downtown Indianapolis, just north of the central business district and minutes from the Indiana University Indianapolis campus, IU Health’s new downtown campus, and the city’s major sports and entertainment venues. The property offers immediate access to I-65 and I-70 via nearby Meridian Street and West Street interchanges, providing convenient regional connectivity throughout the Indianapolis metro.
The location sits within walking distance of the Indianapolis Cultural Trail and numerous downtown restaurants and breweries. The surrounding area features a blend of historic industrial buildings, adaptive reuse projects, residential developments, and office users, creating a vibrant mixed-use environment with strong visibility and accessibility.
The property also benefits from proximity to Mass Ave, the Wholesale District, and the growing Near North and Canal districts, making it well-positioned for office, showroom, creative, or service-oriented users seeking a downtown Indianapolis presence with convenient access and nearby amenities.
The location sits within walking distance of the Indianapolis Cultural Trail and numerous downtown restaurants and breweries. The surrounding area features a blend of historic industrial buildings, adaptive reuse projects, residential developments, and office users, creating a vibrant mixed-use environment with strong visibility and accessibility.
The property also benefits from proximity to Mass Ave, the Wholesale District, and the growing Near North and Canal districts, making it well-positioned for office, showroom, creative, or service-oriented users seeking a downtown Indianapolis presence with convenient access and nearby amenities.
Property Facts
| Sale Type | Investment or Owner User | Year Built | 1904 |
| Property Type | Industrial | Parking Ratio | 0.18/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 14’ |
| Building Class | C | No. Dock-High Doors/Loading | 1 |
| Lot Size | 0.67 AC | No. Drive In / Grade-Level Doors | 2 |
| Rentable Building Area | 55,000 SF | Opportunity Zone |
Yes
|
| No. Stories | 4 | ||
| Zoning | CBD-2 | ||
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.67 AC |
| Rentable Building Area | 55,000 SF |
| No. Stories | 4 |
| Year Built | 1904 |
| Parking Ratio | 0.18/1,000 SF |
| Clear Ceiling Height | 14’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 2 |
| Opportunity Zone |
Yes |
| Zoning | CBD-2 |
Amenities
- Signage
- Awning
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Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 49-11-02-100-003.000-101 | Improvements Assessment | $1,707,700 |
| Land Assessment | $643,500 | Total Assessment | $2,351,200 |
Property Taxes
Parcel Number
49-11-02-100-003.000-101
Land Assessment
$643,500
Improvements Assessment
$1,707,700
Total Assessment
$2,351,200
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640 N Capitol Ave