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First-Floor Retail in Mixed-Use
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523 S Madison Ave, Greenwood, IN 46142

New first-floor retail suites offered within a luxury mixed-use building with apartments and townhomes above.

Space Size788 SF
Days on Market240

Property Features for 523 S Madison Ave

General Information

Standard status Active
Size 788 SF
Property subtype RETAIL

Spaces For Lease

at 523 S Madison Ave
Building E North AVAILABLE, Now
Floor 1
Size 788 SF
Type RETAIL
Rate Contact for pricing
Sublease No
- 777-4,300 SF spaces of new first-floor retail in a luxury mixed-use development - 329 market-rate apartments + 18 townhomes directly above the retail — creating built-in daily demand - Designed for medical, wellness, beauty, fitness, café, and service-oriented tenants
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Listing Agency: CBRE | Indianapolis
Listed By: Diana Zagarzhevskiy · License #RB20001523
Source: Moodyscre
Added: Mar 10 Changed: Oct 25 Last Checked: Nov 3 at 8:32AM

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 CBRE | Indianapolis

Rey
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Investment Insights

Based on property information with market context.

New first-floor retail is available in a luxury mixed-use development, with spaces ranging from 777 to 4,300 square feet. The property features approximately 329 market-rate apartments and 18 townhomes positioned directly above the retail, supporting consistent, built-in daily demand.

The center is designed to accommodate a range of service-oriented concepts, including medical, wellness, beauty, fitness, café, and other related tenant uses.

The available retail is positioned on the first floor of the mixed-use structure, providing convenient access to the residential population above.

Key Highlights

  • New first‑floor retail suites totaling 4,300 SF in a luxury mixed‑use development
  • Conveniently located with 329 market‑rate apartments and 18 townhomes directly above the retail
  • Built‑in daily demand from residents above the retail suites

Property Analytics

Who owns this building? See the owner, sales and loan history
Open Analytics

Current Use

The Madison at Greenwood Real Estate Agency

Suggested Use

Top Pick Parking Lot & Garage Daycare Center (Bike/Boat/Book/etc) Store Grocery & Convenience Store Bakery 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

550
Businesses Nearby

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
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025

Frequently Asked Questions

What type of property is this?
Retail space - New first-floor retail suites offered within a luxury mixed-use building with apartments and townhomes above.
Where is this retail space located?
The property is located at 523 S Madison Ave Greenwood, IN.
What are key features of this property?
This property features: New first‑floor retail suites totaling 4,300 SF in a luxury mixed‑use development; Conveniently located with 329 market‑rate apartments and 18 townhomes directly above the retail; Built‑in daily demand from residents above the retail suites
(317) 518-6257 · Office Call to check price and availability
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