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    5002 Madison Ave Indianapolis, IN 46227

    For Lease
    $1,700 /Mo ($1.87 SF/Yr)

    Retail - Indianapolis, IN

    Type:Retail
    Property size:
    10,924 SF
    Lot size:
    1.17 Acres
    Days on Market:
    32
    Last Refresh:
    Dec 5 at 1:06 am

    Property Features for 5002 Madison Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    c3
    APN
    491506114011000500
    Size
    10,924 SF
    Lot size
    1.17 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1970
    Architectural style
    Other

    Keller Williams Indianapolis Metro North (317) 846-6300 [email protected]

    Listing agent Derek Gutting (317) 846-6300 License #RB14024424

    Listing date Nov 4, 2025

    MLS# 21967521 Listing URL

    Copyright © 2025 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Retail Space in High-Visibility Center

    This retail space is located in a high-visibility retail strip center at the corner of Madison Avenue and Thompson Road in Indianapolis. The available space is 2,000 square feet and is currently configured with potential offices and separate rooms. The building is constructed of brick and includes an asphalt parking lot. The property's current tenants include H&R Block, Metro by T-Mobile, Top Level Gym, Arcade 911, and Center Stage Dance Academy. Water, trash, and sewer services are included in the lease. The property is zoned C3 and is situated on a 1.17-acre lot. The total property size is 10,924 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Top Level Gym Muay Thai Boxing Gym Famous Wolf Strength ... Personal Trainer ARCADE RESCUE 911 Pinball Machine Supplier Center Stage Dance ... Dance School Indianapolis Colts Training ... Furniture Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.137527
    Latitude
    39.693132

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    FAQs

    What type of property is this?
    Strip mall - Retail space available in a high-traffic Indianapolis location.
    Where is this strip mall located?
    The property is located at 5002 Madison Ave Indianapolis, IN.
    What is the lease rate?
    The lease rate is $1.87 SF/Yr.
    What are key features of this property?
    This property features: - High visibility location at the corner of Madison Ave and Thompson Rd.; - 2000 sq ft retail space suitable for offices.; - Existing tenants include H&R Block, Metro by T mobile, Top Level Gym, Arcade 911 and Center Stage Dance Academy.
    (317) 846-6300
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5002 Madison Ave Indianapolis, IN 46227
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