2227 W Michigan St

This expansive two-story mixed-use property, spanning nearly an entire city block, presents a rare and strategic investment opportunity for those with a vision to create enduring value in a rapidly appreciating urban landscape. Located in one of Evansville’s most rapidly transforming districts, this property offers unmatched versatility for commercial, educational, and community-oriented ventures. Listed at $600,000 with an assessed value of $1,313,200, we deliver an immediate $713,200 in equity, offering a significant advantage in realizing its investment potential. The 52,400 sq ft building rests on 1.09 acres and includes key features such as a gymnasium, theater, chapel, and an industrial-grade kitchen in the walkout basement—positioning it for a range of adaptive uses, including a wellness center, community hub, or institutional facility. With multiple rooms available for conversion into offices, classrooms, or specialized workspaces, the property offers flexibility and scalability to meet evolving market demands.
The location is set as a cornerstone for growth, with proximity to major employers such as Deaconess Hospital, Mead Johnson, and the University of Southern Indiana, driving strong demand for healthcare, retail, and residential development. The nearby Franklin Street corridor—a vibrant hub of shopping and dining—adds to the property’s appeal for businesses and service providers seeking visibility and high foot traffic. Additionally, an adjacent lot serving as parking ensures easy access for tenants and visitors alike. Positioned for long-term growth, the property qualifies for local, state, and federal grants geared toward retail, healthcare, and neighborhood revitalization, offering significant upside for redevelopment aligned with Evansville’s ongoing urban initiatives. The surrounding area’s steady expansion in healthcare, manufacturing, and education further solidifies its role as a profitable investment in this high-demand market. The opportunity presented is more than just an acquisition—it is a chance to shape the future of a dynamic and rapidly growing district with unique, entrepreneurial vision.