7338 5 Points Road, Indianapolis, IN 46259

$599,000

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List Price
$599,000
MLS#
22114700
Property Type
Land
Days on Market
7
Status
ACTIVE

Property Description

This vast property encompasses 5.8 acres located at the intersection of Shelbyville Road and Five Points Road. Has been approved to allow the construction of additional homes and approved to split into 2, 4 or 5 separate parcels (Plat maps attached) the option of a private driveway with private gate, also a tennis court or playground which you can see on attached approved plat maps. Zoning allows horse boarding on property and possible zoning request for retail. Front of the property features a recently updated three-bedroom bungalow, complemented by a sizable detached garage measuring 20x32 feet and an above-ground swimming pool wooden deck. This site presents an excellent opportunity for the development of private subdivision, with approved potential for subdividing into 5 parcels of one acre each, 4 parcels or 2 parcels. Previous plans for a small gated community are available upon request. This well-maintained multifunctional real estate asset situated at the highly sought after corner of Five Points Road and Shelbyville Road, boasting approximately 800 feet of road frontage.

Additional Information

Present Zoning
Multi-Fam, Single Family, Variance
Land Characteristics
Corner, Mature Trees
Topography
Level
Soil Type
Not Applic
Development Status
Plat Designed, Surveyed
Facilities on Site
Electric, Gas, Sewer, Water
Facilities near Site
Electric, Gas, Water
Water
Municipal Water on Site
Sewer
Public Sewer
Road Access
County Rd, Frontage Road
Road Frontage
County Road
Road Surface
Asphalt
Acres
5.80
Water
Municipal Water on Site
Region
Franklin

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Midland Realty Group, Inc..

Information Deemed Reliable But Not Guaranteed. © 2026 MIBOR Broker Listing Cooperative