Listing Agency: Big V Property Group c***@bigv.com Show Phone

Listed By: Caroline Horne Show Phone

Source: Moodyscre

Added: Apr 2, 2025 Changed: Jul 30 Last Checked: Aug 5 at 12:42PM

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Investment Insights

Based on property information with market context.

Merchants’ Square is a shopping center offering retail space in a high-volume traffic district, designed for strong visibility and easy consumer access. The center features a diverse tenant mix that includes Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco, and Dollar Tree.

The property is shadow-anchored by the first Indiana location for Illinois-based Harvest Market, adding additional draw for area shoppers. The center’s total size is 3,446 square feet and is located at 2140-2208 E 116th St, Carmel, IN 46032.

This setup supports a tenant mix that ranges from fitness and entertainment to pet care, discount retail, and household shopping.

Key Highlights

• Merchants’ Square shopping center in a high‑volume traffic district
• Tenant mix includes Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco, and Dollar Tree
• Shadow‑anchored by the first Indiana location for Illinois‑based Harvest Market

Property Analytics

Current Use

Shopping centers

Suggested Use

Top Pick Auto Parts Store Storage Facility Grocery & Convenience Store Electrical Service Parking Lot & Garage Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

Location Intelligence

Trade Area within ½ mile

1,554

Businesses Nearby

448k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 36% Shops & Services 30% Groceries 18% Home Improvements & Furnishings 9%

Kroger Groceries

58,141 visits/mo 0.5 miles

World Market Home Improvements & Furnishings

39,340 visits/mo 0.2 miles

McDonald's Dining

35,528 visits/mo 0.4 miles

Speedway Shops & Services

22,166 visits/mo 0.4 miles

Goodwill Apparel

19,118 visits/mo 0.3 miles

Demographics for 46032, IN

50,477

Population

22,118

Households

2.3

Avg Household Size

40

Median Age

75%

College-Educated

98%

High-School Grad

25.3 sq mi

ZIP Area

1,995

Density / Sq Mi

$123,438

Median Household Income

$70,558

Median Earnings

$1,522

Median Rent

$464,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Shopping center - Merchants’ Square shopping center offers retail space within a high-traffic Carmel trade area.

Where is this shopping center located?

The property is located at 2140-2208 E 116th St Carmel, IN.

What are key features of this property?

This property features: Merchants’ Square shopping center in a high‑volume traffic district; Tenant mix includes Planet Fitness, Flix Brewhouse, Cost Plus World Market, Petco, and Dollar Tree; Shadow‑anchored by the first Indiana location for Illinois‑based Harvest Market