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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 Market189

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 Contact us

Building E North

Floor
1
Size
788 SF
Type
RETAIL
Rate
Contact for pricing
Availability
AVAILABLE, Now
Sublease
No
- 777-4,300 SF spaces of new first-floor retail in a luxury mixed-use development -...
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Listing Agency: CBRE | Indianapolis
Listed By: Diana Zagarzhevskiy · License #RB20001523
Source: Moodyscre
Added: Mar 10 Changed: Sep 2 Last Checked: Sep 14 at 6:11AM

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

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

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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
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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 Call to check price and availability
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