Neighborhood Retail Center with Event
For Sale
$5,750,000
3119 E Thompson Rd, Indianapolis, IN 46227
55,580-square-foot retail center anchored by an event venue with grocery, dining, spa, and entertainment tenants.
Property Size55,580 SF
Price / SF$103.45
Days on Market53
Property Features for 3119 E Thompson Rd
General Information
Standard status
Active
Size
55,580 SF
Property subtype
Shopping Neighborhood
Amenities
Carson Square is 100 Percent Occupied by Local, Service-Based Retailers that Cater to the Immediate Neighborhood
82 Percent of the GLA Operates under Triple-Net Leases,Ttenants Reimburse Their Pro-Rata Share of Common Area Maintenance, Property Taxes, Insurance, Management, and Provide an Administrative Fee
The Diverse Tenant Mix at Carson Square Provides a Shopping, Dining, and Entertainment Experiences to the Immediate Area all in One Location
Majority of the Tenants Have Annual Rental Increases throughought the Remainder of the Firm Term of their Lease
No Renewal Option Periods Remaining on Any of the Current Tenants Allows an Incoming Investor to Renogtiate Leases to Market Rate
Building Details
Building Size
55,580 SF
Year Built
1974
Listing Agency:
Marcus & Millichap - Indianapolis
(317) 218-5324
Listed By:
David Klink · License #License(s): IN: RB14049256
(317) 218-5324
Source:
Marcusmillichap
Added: Jul 3
Changed: Aug 23
Last Checked: Aug 24 at 3:24AM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
Carson Square is a 55,580-square-foot neighborhood retail center offered for sale at 3119 East Thompson Road in Indianapolis, Indiana. The center is anchored by The Atrium, a nearly 20,000-square-foot event venue that hosts weddings, celebrations, corporate functions, and community events throughout the year.
Tenant support includes Thang Family Grocery, Gallagher's Pub & Eatery, Barn in Time Paw Spa, Seoul Spa, fitness concepts, and entertainment operators, creating a mix of experiential and service-oriented uses. The property also benefits from its immediate proximity to Roncalli High School, which serves more than 1,100 students, contributing to consistent daily activity in the surrounding area.
As an investment offering, Carson Square features in-place rents averaging just over $8.00 per square foot, with an opportunity to drive future performance through lease renewals and tenant turnover within an established Indianapolis retail corridor.
Tenant support includes Thang Family Grocery, Gallagher's Pub & Eatery, Barn in Time Paw Spa, Seoul Spa, fitness concepts, and entertainment operators, creating a mix of experiential and service-oriented uses. The property also benefits from its immediate proximity to Roncalli High School, which serves more than 1,100 students, contributing to consistent daily activity in the surrounding area.
As an investment offering, Carson Square features in-place rents averaging just over $8.00 per square foot, with an opportunity to drive future performance through lease renewals and tenant turnover within an established Indianapolis retail corridor.
Key Highlights
- 55,580 SF neighborhood retail center in Indianapolis, IN, built in 1974
- Anchored by The Atrium, a nearly 20,000 SF event venue for weddings, celebrations, corporate functions, and community events
- Tenant mix includes Thang Family Grocery, Gallagher's Pub & Eatery, Barn in Time Paw Spa, and Seoul Spa, plus fitness and entertainment operators
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46227, IN
62,126
Population
26,411
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
83%
High-School Grad
16.7 sq mi
ZIP Area
3,720
Density / Sq Mi
$50,993
Median Household Income
$35,591
Median Earnings
$994
Median Rent
$192,600
Median Home Value
Market
Vacancy Rate% for Retail in Indianapolis, IN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - 55,580-square-foot retail center anchored by an event venue with grocery, dining, spa, and entertainment tenants.
Where is this shopping center located?
The property is located at 3119 E Thompson Rd Indianapolis, IN.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: 55,580 SF neighborhood retail center in Indianapolis, IN, built in 1974; Anchored by The Atrium, a nearly 20,000 SF event venue for weddings, celebrations, corporate functions, and community events; Tenant mix includes Thang Family Grocery, Gallagher's Pub & Eatery, Barn in Time Paw Spa, and Seoul Spa, plus fitness and entertainment operators
