Shopping Center with Pylon
For Sale
Contact for pricing
707 S Madison Ave, Greenwood, IN 46143
Retail property with national tenants, multi-road frontage, and established pylon signage.
Property Size51,580 SF
Price / SF$164.70
Days on Market239
Property Features for 707 S Madison Ave
General Information
Standard status
Active
Size
51,580 SF
Property subtype
RETAIL
Additional Details
Pylon Signage
Yes
Building Details
Parking Ratio
4.35 per 1,000 SF
Listing Agency:
Tharp Realty
(317) 890-1714
Listed By:
Jeffrey 'Jeff' Marchio
(317) 432-5361
Source:
Moodyscre
Added: Feb 16
Changed: Sep 13
Last Checked: Oct 12 at 10:23PM
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 Tharp Realty
Investment Insights
Based on property information with market context.
This 51,580-square-foot shopping center at 707 S Madison Ave in Greenwood, Indiana, includes national tenants and pylon signs. The property offers a parking ratio of 4.35 spaces per 1,000 SF and road frontage on 3 roads.
The shopping center is adjacent to The Madison development, providing a defined commercial setting within the surrounding development context. Its existing tenant presence, signage, parking ratio, and multi-road frontage are the primary physical and operational features identified for the property.
The shopping center is adjacent to The Madison development, providing a defined commercial setting within the surrounding development context. Its existing tenant presence, signage, parking ratio, and multi-road frontage are the primary physical and operational features identified for the property.
Key Highlights
- 51,580‑square‑foot shopping center
- 4.35/1,000 SF parking ratio
- National tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$564,120
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,282,400
$11.3M
Cap Rate 7%
$8,058,857
$8.1M
Cap Rate 9%
$6,268,000
$6.3M
Market Conditions
NOI Build-Up for 51,580 SF
Gross rent
$866.5K $16.80/SF
− Vacancy
−$60.7K −$1.18/SF
EGI
$805.9K $15.62/SF
− OpEx
−$241.8K −$4.69/SF
NOI
$564.1K $10.94/SF
Area
Johnson County, IN
Vacancy
7.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,282,400
Cap Rate 7%
$8,058,857
Cap Rate 9%
$6,268,000
Alternative Uses
Best Use
Retail
$8.06M
$7.05M – $9.40M
NOI $564,120 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.00M
$11.37M – $15.16M
NOI $909,871 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
152k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 41%
Dining 27%
Shops & Services 23%
Electronics 3%
Rural King
Home Improvements & Furnishings
52,371 visits/mo
0.2 miles
Dollar Tree
Shops & Services
18,288 visits/mo
0.0 miles
Dunkin' Donuts
Dining
10,807 visits/mo
0.1 miles
Burger King
Dining
10,349 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
10,232 visits/mo
0.0 miles
Demographics for 46143, IN
62,618
Population
23,417
Households
2.7
Avg Household Size
36
Median Age
36%
College-Educated
93%
High-School Grad
49.4 sq mi
ZIP Area
1,268
Density / Sq Mi
$89,401
Median Household Income
$51,213
Median Earnings
$1,427
Median Rent
$295,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail property with national tenants, multi-road frontage, and established pylon signage.
Where is this shopping center located?
The property is located at 707 S Madison Ave Greenwood, IN.
What is the asking price?
The asking price for this property is $8,495,000.
What are key features of this property?
This property features: 51,580‑square‑foot shopping center; 4.35/1,000 SF parking ratio; National tenants in place
