# 4240 & 4244 Madison Avenue, Indianapolis, IN 46227

> **TL;DR:** commercial, $400,000 ($126/sqft), built 1900, 3,186 sqft. Est. $1,733/mo. Listed 2 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $400,000 |
| Price/sqft | $126 |
| Square Feet | 3,186 |
| Year Built | 1900 |
| Lot Size | 41,382 sqft (0.95 acres) |
| Property Type | Commercial (Mixed Use) |
| Status | For Sale |
| Days on Market | 2 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $1,733 |
| **Total** | **$1,733** |

## Property Highlights

- Built in 1900
- 0.95 acre lot

## Description

### Agent Description
Perry Township - Opportunity Knocks - 1 ACRE Commercial Potential on two residential properties - located at the corner of Madison & Lawrence Avenue in Perry Twp - across Madison from a gas station and near many other conveniences & commercial locations.  Properties are currently leased to tenants and subject to tenant rights - please make an offer & include a due diligence period to satisfy questions and research to make this property terrific for Buyer's situation.    About the property: 2 parcels, 1 shared driveway; total sqft of the parcels is 40,997 sqft (148'x189' & 75'x172'); Buildings are 1289 sqft & 1897 sqft; Utilities onsite.  Tons of road frontage, highly visual location & ready for the wise entrepreneur.  Low taxes, NO HOA.

## Location

- **Address:** 4240 & 4244 Madison Avenue, Indianapolis, IN 46227
- **County:** Marion
- **Coordinates:** 39.702968, -86.140454
- **Google Maps:** https://www.google.com/maps?q=39.702968,-86.140454

## Listing Agent

- **Name:** Jeffrey Paxson
- **Brokerage:** Jeff Paxson Team
- **Phone:** 3176792121
- **Email:** jeff@jeffpaxson.com

## Primary Photo

![4240 & 4244 Madison Avenue - Primary Photo](http://lh.rdcpix.com/ce55150e0d9912c3a1bb3f9bd20923b7l-f3743563728r.jpg)

*3 total photos available on [listing page](https://www.propertysimple.com/listing/4240-4244-madison-avenue-indianapolis-in-46227-22094887)*

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**MLS#:** 22094887 | **Updated:** 2026-04-25
**Source:** listhub

*Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/4240-4244-madison-avenue-indianapolis-in-46227-22094887)

---

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