Rare opportunity to acquire a 0.33-acre parcel (multi-lot) zoned MU-1, allowing high-density residential development by right. The zoning also provides flexibility for alternative commercial uses, and the City has expressed openness to retail and creative commercial concepts, making this a highly adaptable infill site. The current ownership is open to collaborating with a commercial user, including pop-up retail, temporary activations, or a build-to-suit opportunity for the right concept. This creates a unique pathway for operators seeking a lower-barrier entry into a high-visibility location while longer-term development plans are finalized. Highlights include: MU-1 zoning permitting high-density residential, City support for alternative commercial and retail uses, Ideal for pop-up retail, food, experiential concepts, or build-to-suit, Flexible ownership willing to partner on creative solutions, Infill parcel suited for both near-term activation and long-term redevelopment This site is well-positioned for developers, operators, or investors seeking zoning flexibility, municipal support, and ownership willing to think creatively.
181 days
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58
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Zillow last checked:
Listing updated:
Listed by:
Kate Tuttle317-691-7705,
@properties
Source: MIBOR as distributed by MLS GRID,MLS#: 22078801
Facts & features
Property
Lot
Size: 0.33 Acres
Features: City
Topography: Cleared
Details
Parcel number: 491006157070000100
Zoning: MU-1
Zoning description: Multi-Fam
Special conditions: Package
Horse amenities: None
Utilities & green energy
Water: Municipal Water Near By
Community & HOA
Community
Subdivision: J E Downeys Arsenal Heights
HOA
Has HOA: No
Location
Region: Indianapolis
Financial & listing details
Annual tax amount: $1,342
Date on market: 1/9/2026
Cumulative days on market: 181 days
Road surface type: Asphalt
Estimated market value
Zestimate®
Not available
Estimated sales range
Not available
Rent Zestimate®
Not available
Price history
Date
Event
Price
7/10/2026
Price change
$265,000-15.9%
Source: MIBOR as distributed by MLS GRID #22078801Report a problem
1/9/2026
Listed for sale
$315,000
Source: MIBOR as distributed by MLS GRID #22078803Report a problem
Public tax history
Tax history is unavailable.
Monthly payment
Estimated monthly payment$1,822
Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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