# 506 Lawrence Avenue, Indianapolis, IN 46227 > **TL;DR:** commercial, $225,000, built 1954. > A/C. Est. $1,204/mo. Listed 63 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $225,000 | | Year Built | 1954 | | Lot Size | 11,326 sqft (0.26 acres) | | Property Type | Commercial (Office) | | Status | Active | | Days on Market | 63 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $1,138 | | Estimated Insurance | $66 | | **Total** | **$1,204** | ## Key Amenities - A/C ## Property Highlights - Built in 1954 - 0.26 acre lot ## Description ### Agent Description Looking for a High Visibility Property with multiple ways to create value? This Spacious Bedford Stone Ranch offers a flexible layout, full basement, finished 2-car attached garage, and potential for residential, investment, or commercial use-all in a convenient Indianapolis location. The main level features 3 bedrooms, 1.5 baths, newer luxury vinyl plank flooring, vinyl windows, an updated bathroom, and a spacious layout that feels significantly larger than 2,000 square feet. The full basement is where the possibilities really open up. Two separate rooms with closets offer potential for offices, guest rooms, hobby spaces, or possible additional bedrooms. For investors, the flexible floor plan could lend itself to several strategies. Explore the potential for an Airbnb/short-term rental, long-term rental, or a house-hacking opportunity where an owner occupies one portion while utilizing other areas for additional income. The layout may also allow the upper/main living area to be separated into additional living quarters(creating a duplex) with a separate entrance from the garage,. The property also offers potential Commercial Space for business, office, retail, medical etc. Major improvements include a high-efficiency furnace and air conditioner replaced within the past 3-4 years, PEX water lines, and 200-amp electrical service. The attached 2-car garage is finished, providing valuable parking, storage, or workspace. And don't overlook the covered front porch-a great spot for morning coffee before taking advantage of the home's convenient location near shopping, schools, parks, major highways, downtown Indianapolis, and Greenwood. One property. Multiple possibilities. Whether you're looking for a rental, Airbnb opportunity, house hack, commercial/residential flexibility, or a property you can reconfigure and add value to ## Location - **Address:** 506 Lawrence Avenue, Indianapolis, IN 46227 - **County:** Marion - **Coordinates:** 39.702691, -86.148454 - **Google Maps:** https://www.google.com/maps?q=39.702691,-86.148454 ## Listing Agent - **Name:** Andy Ludlow - **Brokerage:** eXp Realty - **Broker Phone:** (812) 734-6048 ## Photos ![506 Lawrence Avenue - Photo 1](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2721916135r.jpg) ![506 Lawrence Avenue - Photo 2](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f760394674r.jpg) ![506 Lawrence Avenue - Photo 3](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1101118303r.jpg) ![506 Lawrence Avenue - Photo 4](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2526402166r.jpg) ![506 Lawrence Avenue - Photo 5](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1728069888r.jpg) ![506 Lawrence Avenue - Photo 6](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1331359426r.jpg) ![506 Lawrence Avenue - Photo 7](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f443932628r.jpg) ![506 Lawrence Avenue - Photo 8](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f585306654r.jpg) ![506 Lawrence Avenue - Photo 9](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1214191214r.jpg) ![506 Lawrence Avenue - Photo 10](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3578635217r.jpg) ![506 Lawrence Avenue - Photo 11](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f4196935495r.jpg) ![506 Lawrence Avenue - Photo 12](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f541689072r.jpg) ![506 Lawrence Avenue - Photo 13](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3308275761r.jpg) ![506 Lawrence Avenue - Photo 14](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3416557980r.jpg) ![506 Lawrence Avenue - Photo 15](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1815066769r.jpg) ![506 Lawrence Avenue - Photo 16](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3726295963r.jpg) ![506 Lawrence Avenue - Photo 17](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2130706161r.jpg) ![506 Lawrence Avenue - Photo 18](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1597610559r.jpg) ![506 Lawrence Avenue - Photo 19](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2726689040r.jpg) ![506 Lawrence Avenue - Photo 20](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f4278947759r.jpg) ![506 Lawrence Avenue - Photo 21](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3347513476r.jpg) ![506 Lawrence Avenue - Photo 22](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2549387490r.jpg) ![506 Lawrence Avenue - Photo 23](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f796072909r.jpg) ![506 Lawrence Avenue - Photo 24](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f457372471r.jpg) ![506 Lawrence Avenue - Photo 25](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f159434856r.jpg) ![506 Lawrence Avenue - Photo 26](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3921685934r.jpg) ![506 Lawrence Avenue - Photo 27](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3497523268r.jpg) ![506 Lawrence Avenue - Photo 28](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2514803165r.jpg) ![506 Lawrence Avenue - Photo 29](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3825388141r.jpg) ![506 Lawrence Avenue - Photo 30](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2300798226r.jpg) ![506 Lawrence Avenue - Photo 31](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3582351616r.jpg) ![506 Lawrence Avenue - Photo 32](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3119287596r.jpg) ![506 Lawrence Avenue - Photo 33](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1468216093r.jpg) ![506 Lawrence Avenue - Photo 34](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2276480482r.jpg) ![506 Lawrence Avenue - Photo 35](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f582579155r.jpg) ![506 Lawrence Avenue - Photo 36](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2682787692r.jpg) ![506 Lawrence Avenue - Photo 37](http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1995851364r.jpg) --- **MLS#:** 22123860 | **Updated:** 2026-10-30 **Source:** listhub *Copyright © 2026 Broker Listing Cooperative®. 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://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42#listing", "url": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42", "name": "506 Lawrence Avenue, Indianapolis, IN 46227", "description": "Looking for a High Visibility Property with multiple ways to create value? This Spacious Bedford Stone Ranch offers a flexible layout, full basement, finished 2-car attached garage, and potential for residential, investment, or commercial use-all in a convenient Indianapolis location. The main level features 3 bedrooms, 1.5 baths, newer luxury vinyl plank flooring, vinyl windows, an updated bathroom, and a spacious layout that feels significantly larger than 2,000 square feet. The full basement is where the possibilities really open up. Two separate rooms with closets offer potential for offices, guest rooms, hobby spaces, or possible additional bedrooms. For investors, the flexible floor plan could lend itself to several strategies. Explore the potential for an Airbnb/short-term rental, long-term rental, or a house-hacking opportunity where an owner occupies one portion while utilizing other areas for additional income. The layout may also allow the upper/main living area to be separated into additional living quarters(creating a duplex) with a separate entrance from the garage,. The property also offers potential Commercial Space for business, office, retail, medical etc. Major improvements include a high-efficiency furnace and air conditioner replaced within the past 3-4 years, PEX water lines, and 200-amp electrical service. The attached 2-car garage is finished, providing valuable parking, storage, or workspace. And don't overlook the covered front porch-a great spot for morning coffee before taking advantage of the home's convenient location near shopping, schools, parks, major highways, downtown Indianapolis, and Greenwood. One property. Multiple possibilities. Whether you're looking for a rental, Airbnb opportunity, house hack, commercial/residential flexibility, or a property you can reconfigure and add value to", "image": [ "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2721916135r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f760394674r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1101118303r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2526402166r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1728069888r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1331359426r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f443932628r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f585306654r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1214191214r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3578635217r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f4196935495r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f541689072r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3308275761r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3416557980r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1815066769r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3726295963r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2130706161r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1597610559r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2726689040r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f4278947759r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3347513476r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2549387490r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f796072909r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f457372471r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f159434856r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3921685934r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3497523268r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2514803165r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3825388141r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2300798226r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3582351616r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3119287596r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1468216093r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2276480482r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f582579155r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2682787692r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1995851364r.jpg" ], "primaryImageOfPage": { "@type": "ImageObject", "url": "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2721916135r.jpg", "caption": "506 Lawrence Avenue - Indianapolis, IN" }, "datePosted": "2026-09-01", "dateModified": "2026-10-30T16:39:38.969Z", "mainEntity": { "@type": "Place", "@id": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42#property", "name": "506 Lawrence Avenue, Indianapolis, IN 46227", "address": { "@type": "PostalAddress", "streetAddress": "506 Lawrence Avenue", "addressLocality": "Indianapolis", "addressRegion": "IN", "postalCode": "46227", "addressCountry": "US" }, "geo": { "@type": "GeoCoordinates", "latitude": 39.702691, "longitude": -86.148454 }, "image": [ "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2721916135r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f760394674r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1101118303r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2526402166r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1728069888r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1331359426r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f443932628r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f585306654r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1214191214r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3578635217r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f4196935495r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f541689072r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3308275761r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3416557980r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1815066769r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3726295963r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2130706161r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1597610559r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2726689040r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f4278947759r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3347513476r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2549387490r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f796072909r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f457372471r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f159434856r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3921685934r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3497523268r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2514803165r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3825388141r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2300798226r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3582351616r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f3119287596r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1468216093r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2276480482r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f582579155r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f2682787692r.jpg", "http://lh.rdcpix.com/2d0ad225eb8926680504c6c2f65692a5l-f1995851364r.jpg" ], "identifier": { "@type": "PropertyValue", "propertyID": "MLS", "value": "22123860" }, "amenityFeature": [ { "@type": "LocationFeatureSpecification", "name": "Heating", "value": "Forced Air, Natural Gas" }, { "@type": "LocationFeatureSpecification", "name": "Cooling", "value": "Central Air" }, { "@type": "LocationFeatureSpecification", "name": "Air Conditioning", "value": true } ], "additionalProperty": [ { "@type": "PropertyValue", "name": "Lot Size", "value": "0.26 acres" }, { "@type": "PropertyValue", "name": "Property Subtype", "value": "Office" }, { "@type": "PropertyValue", "name": "Property Type", "value": "Commercial" } ] }, "offers": { "@type": "Offer", "@id": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42#offer", "url": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42", "price": 225000, "priceCurrency": "USD", "businessFunction": "http://purl.org/goodrelations/v1#Sell", "availability": "https://schema.org/InStock", "seller": { "@id": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42#agent" } }, "provider": { "@type": "Person", "@id": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42#agent", "name": "Andy Ludlow", "worksFor": { "@type": "Organization", "@id": "https://staging.propertysimple.ai/listing/506-lawrence-avenue-indianapolis-in-46227-6e6d320451bd4d00832663b5f6e9cd42#brokerage", "name": "eXp Realty", "telephone": "(812) 734-6048", "logo": { "@type": "ImageObject", "url": "http://lh.rdcpix.com/4622a6d0332811e195d300219b994c72k-c1937428127r.png" } } } } ```