821 E 38th St

This exceptional redevelopment opportunity is strategically located along busy East 38th Street directly across from the Indiana State Fairgrounds in Indianapolis. The fully paved 0.61-acre commercial corner parcel sits at the intersection of East 38th Street and Guilford Avenue, offering approximately 200 feet of frontage along 38th Street and 124 feet along Guilford Avenue, providing outstanding visibility and accessibility within one of the city’s most active growth corridors. The property benefits from three separate street cuts, including two access points from 38th Street and one from Guilford Avenue, enhancing traffic flow and site functionality. Currently improved with a tenant-occupied convenience store, the existing structure offers the flexibility to continue generating income, undergo renovation, or be redeveloped entirely for a new project. Zoned “Multi-Use,” the site supports a wide range of development possibilities including multifamily housing, mixed-use projects with ground-floor retail and upper-level residential units, office buildings, restaurants, retail stores, medical offices, community centers, and professional service businesses. With strong traffic exposure, premier urban positioning, and flexible redevelopment potential, this property represents a rare investment opportunity for developers, investors, and owner-users seeking a highly visible commercial asset in a rapidly evolving Indianapolis corridor.