Shops on Meridian Retail
For Sale
Contact for pricing
201 S State Rd 135, Greenwood, IN 46142
Fully leased retail property with national tenants in Greenwood, Indiana.
Property Size4,051 SF
Price / SF$545.54
Days on Market100
Property Features for 201 S State Rd 135
General Information
Standard status
Active
Size
4,051 SF
Total Parking Spaces
14
Property subtype
Retail
Zoning
C-2
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$140,183
Building Details
Year Built
2016
Year Renovated
2026
Buildings
1
Tenancy
Multi
Listing Agency:
Pegasus Investments
(310) 969-1135
Listed By:
David Chasin · License #CA 01513027
Source:
Crexi
Added: May 22
Changed: Aug 21
Last Checked: Aug 24 at 1:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pegasus Investments
Investment Insights
Based on property information with market context.
Shops on Meridian is a fully leased multi-tenant retail property located in Greenwood, Indiana. The property is positioned at a signalized hard-corner location at the intersection of State Road 135 and West Main Street, with traffic counts exceeding 55,000 vehicles per day. It sits directly across the intersection from a Meijer grocery store. The property is leased to Mathnasium and Jamba/Auntie Anne’s, creating a family-oriented tenant roster with an approximately 10-year weighted average lease term remaining. Both leases feature 3.5% annual rental increases. Mathnasium is a nationally recognized K–12 supplemental education brand with over 1,100 locations. The Center Grove Community School District, ranked #1 in Johnson County and #15 in Indiana, drives demand for tutoring and academic-related services. The Jamba/Auntie Anne’s combination store broadens consumer appeal and acts as a synergistic co-tenant for students and parents. Average household incomes within a one-mile radius approach $104,000. Greenwood is one of Indiana’s fastest-growing cities, having expanded 80% since 2000. Employment in Greenwood grew approximately 7% from 2023 to 2024, adding over 2,200 jobs. Within a 2.5-mile radius, more than $110 million in newly delivered and approved development is actively reshaping the trade area, anchored by the 90-acre Center Grove Park mixed-use PUD approved in December 2024, which will deliver 250 apartment units and up to 150,000 square feet of commercial space directly along SR 135. The property contains 4,051 square feet.
Key Highlights
- 100% leased to national tenants (Mathnasium and Jamba/Auntie Anne’s) with a ~10 year weighted average lease term remaining, providing stable, long‑term income.
- Rare 3.5% annual rental increases in both leases, delivering compounding, inflation‑resistant cash flow and an impressive 8.46% cap rate by Year 10.
- Located at a signalized hard‑corner position on State Road 135 and West Main Street, with high traffic counts exceeding 55,000 vehicles per day.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
640
Businesses Nearby
397k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 34%
Shops & Services 19%
Meijer
Groceries
78,528 visits/mo
0.5 miles
Chick-fil-A
Dining
49,421 visits/mo
0.4 miles
Kroger
Groceries
47,863 visits/mo
0.2 miles
McDonald's
Dining
39,447 visits/mo
0.2 miles
Golden Corral
Dining
25,431 visits/mo
0.3 miles
Demographics for 46142, IN
32,052
Population
14,396
Households
2.2
Avg Household Size
40
Median Age
39%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
2,151
Density / Sq Mi
$85,611
Median Household Income
$47,831
Median Earnings
$1,122
Median Rent
$266,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail property with national tenants in Greenwood, Indiana.
Where is this strip mall located?
The property is located at 201 S State Rd 135 Greenwood, IN.
What is the asking price?
The asking price for this property is $2,210,000.
What are key features of this property?
This property features: 100% leased to national tenants (Mathnasium and Jamba/Auntie Anne’s) with a ~10 year weighted average lease term remaining, providing stable, long‑term income.; Rare 3.5% annual rental increases in both leases, delivering compounding, inflation‑resistant cash flow and an impressive 8.46% cap rate by Year 10.; Located at a signalized hard‑corner position on State Road 135 and West Main Street, with high traffic counts exceeding 55,000 vehicles per day.
