4540 Shadeland Ave Indianapolis, IN 46226-3835

Property Details for 4540 Shadeland Ave

Year built

1972

Construction

TYPE NOT SPECIFIED

Lot size

5.09 lot acres

Property size

45,402 SF

Zone code

ZO01

Property type

Grocery and convenience stores

APN

49-07-14-122-002.000-401

APU

490714122002000401

Description

This 45,000 square foot shopping center in Indianapolis, Indiana, presents a compelling value-add opportunity. The property, built in 1961 and renovated in 2005, sits on a 5.3-acre lot at 4540 Shadeland Ave, 46226, boasting a prime location with excellent visibility and access. Currently 100% occupied by 11 tenants, including a Family Dollar anchoring approximately 22.05% of the gross leasable area (GLA), the center benefits from a diverse tenant mix of e-commerce resistant businesses such as restaurants, financial services, and personal care providers. The majority of tenants operate under triple-net (NNN) leases, minimizing landlord expenses. The property features multiple points of ingress/egress on East 46th Street and Shadeland Avenue, a high-traffic area with approximately 45,000 vehicles per day. Below-market rents averaging under $8 per square foot offer significant upside potential, further enhanced by a developable outparcel. The asking price is $3,560,000, representing a price per square foot of $79.11 and an 8.26% cap rate, based on a net operating income (NOI) of $293,933. This property offers strong investment potential in a dense, infill location within a major Midwest market, just 7.5 miles from downtown Indianapolis and 15 miles from the Indianapolis International Airport. The property's APN is 49-07-14-122-002.000-401. This is a rare opportunity to acquire a well-located, stable, and value-add shopping center with significant upside potential.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Longitude

-86.0469

Latitude

39.8393

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments