Prime 6.8-acre development opportunity at 4817 Kollman Road in Indianapolis, Indiana. This property offers an excellent opportunity for builders, developers, and investors looking to create a new residential neighborhood in an established and growing area. The property is currently zoned FARMLAND and includes a single-family residence originally constructed in 1938. The existing home is not considered part of the property's long-term development plan and will need to be removed as part of a future redevelopment project, subject to applicable approvals. With approximately 6.8 acres of land, the property provides substantial space for a potential residential development. A future owner may pursue a zoning change to allow residential development, creating the opportunity to develop a neighborhood that complements the surrounding area. Buyers should conduct their own due diligence regarding zoning, permitted uses, utilities, subdivision requirements, access, density, and all necessary governmental approvals. Location is a major advantage. The property is situated along a newly paved asphalt road and is surrounded by an already established residential area and other residential structures, providing an ideal setting for a neighborhood development. The property is also within walking distance of major area employers, offering convenient access to employment centers for future residents. Adding to its appeal, the property is approximately an eight-minute drive to Indianapolis International Airport, making it particularly attractive for commuters, business travelers, and residents seeking convenient access to one of the region's major transportation hubs. Whether you're a residential developer seeking your next project or an investor looking for land with future redevelopment potential, 4817 Kollman Road presents a rare opportunity to acquire 6.8 acres in an established Indianapolis setting and pursue the creation of a new residential community. Buyer to
Barn(s), shed(s), and a tenant house on the property
Mature trees and wooded areas
Rectangular parcel
Level topography
Asphalt road frontage on a city street
County road access
Property is divisible
Home design
Farm property (land subtype)
Construction
Farmland zoning / agricultural present zoning
Utilities
Municipal water on site
Public sewer available
Electric and gas available on site
Solid waste service: No
Sale and tax history for 4817 Kollman Rd
Sale History
Tax History
Date
Event
Price
MIBOR as Distributed by MLS Grid #22124367
Sep 1, 2026
Listed
$850,000
Year
Property tax
Land + Additions
Assessment*
2025
$2,941 (−6.6%)
$27,400 + $226,600
$254,000
2024
$3,149 (+10.8%)
$27,800 + $222,800
$250,600
2023
$2,842 (+0.7%)
$27,800 + $222,800
$250,600
2022
$2,823 (+18.5%)
$26,900 + $197,400
$224,300
2021
$2,383 (+26.4%)
$25,500 + $149,900
$175,400
2020
$1,886 (−7.6%)
$25,500 + $149,900
$175,400
2019
$2,041 (+8.0%)
$25,500 + $123,800
$149,300
2018
$1,889 (+6.5%)
$26,100 + $123,800
$149,900
2017
$1,773
$26,800 + $103,400
$130,200
Public record
Public record
Zoning
Permits
Beds
3
Baths
0.5
Stories
1
Lot width
—
Lot depth
—
Lot size
6 Acres
Year renovated
1938
Finished Sq. Ft.
2,768
Unfinished Sq. Ft.
—
Total Sq. Ft.
2,768
Year built
1938
Style
Single Family Residential
County
Marion County
APN
491235116001000200
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 29, 2026.
D4
AIRSPACE SECONDARY ZONING DISTRICT
METRO
Dwelling District Four
The D-4 District is intended for low or medium intensity single-family and two-family residential development. Land in this District needs good thoroughfare access, relatively flat topography, and nearby community and neighborhood services and facilities with pedestrian linkages. Provisions for recreational facilities serving the neighborhood within walking distance are vitally important. Trees fulfill an important cooling and drainage role for the individual lots in this District. The D-4 District has a typical density of 4.2 units per gross acre. This District fulfills the low density residential classification of the Comprehensive General Land Use Plan. All public utilities and facilities must be present. Development plans, which may include the use of clustering, should incorporate and promote environmental and aesthetic considerations, working within the constraints and advantages presented by existing site conditions, including vegetation, topography, drainage and wildlife.
Zone overlays
Airspace Secondary Zoning District
Metro Context Area
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Multiple units
Communications tower
Housing-Mobile home park
Park & open space
Jun 8, 2015 • Final
Heating & cooling permit-1-2 family-replacement
HVAC
Sep 29, 1999 • Final
Heating & cooling permit-1-2 family-replacement
HVAC
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 101° expected this year, 17 days in 30 years
2/10 Wind Factor
1% chance of strong winds in next 30 years
3/10 Air Factor
3 unhealthy days expected this year, 4 days in 30 years
Provided by First Street
Historical weather
Indianapolis, IN • 46241
Average low and high temperatures (°F)
32
18
42
27
60
40
68
48
71
54
82
66
87
72
82
66
81
61
70
50
54
40
41
28
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
70/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8 hrs
3.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 4817 Kollman Rd
$840,113
$9,887 under list price of $850K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $275K to $385K.