Press Releases
Marcus & Millichap Brokers $2.2M Sale of 22-Unit Multifamily Property in Indianapolis
October 14, 2026
INDIANAPOLIS, Oct. 14, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Briggs Flats, a 22-unit multifamily property in Indianapolis, Indiana. The property sold for $2.2 million, or $100,000 per unit.
“Briggs Flats presented a unique opportunity to acquire a historic multifamily asset in one of Indianapolis' most sought-after urban neighborhoods,” said Jack Friskney, director investments. “Its location adjacent to Eli Lilly's headquarters and inclusion on the National Register of Historic Places made it especially attractive to investors seeking long-term growth potential. We continue to see strong demand for well-located multifamily properties in this submarket, which is positioned for continued growth due to its proximity to downtown Indianapolis and major employers.”
Friskney and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the Colorado-based seller, and procured the local, Indianapolis-based buyer.
Briggs Flats is situated on 0.6 acres at 550 Fletcher Ave. in the Fletcher Place neighborhood of downtown Indianapolis. Built in 1920, the property features a mix of one-, two- and three-bedroom units across two buildings and 15,652 square feet. It benefits from its urban infill location near the Central Business District, Lucas Oil Stadium, the Indiana Convention Center and the Wholesale District. The buyer plans to implement light renovations to select units, primarily focused on kitchen upgrades, while enhancing overall property management and operations.
“Briggs Flats presented a unique opportunity to acquire a historic multifamily asset in one of Indianapolis' most sought-after urban neighborhoods,” said Jack Friskney, director investments. “Its location adjacent to Eli Lilly's headquarters and inclusion on the National Register of Historic Places made it especially attractive to investors seeking long-term growth potential. We continue to see strong demand for well-located multifamily properties in this submarket, which is positioned for continued growth due to its proximity to downtown Indianapolis and major employers.”
Friskney and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the Colorado-based seller, and procured the local, Indianapolis-based buyer.
Briggs Flats is situated on 0.6 acres at 550 Fletcher Ave. in the Fletcher Place neighborhood of downtown Indianapolis. Built in 1920, the property features a mix of one-, two- and three-bedroom units across two buildings and 15,652 square feet. It benefits from its urban infill location near the Central Business District, Lucas Oil Stadium, the Indiana Convention Center and the Wholesale District. The buyer plans to implement light renovations to select units, primarily focused on kitchen upgrades, while enhancing overall property management and operations.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
