4540 Shadeland Ave Indianapolis, IN 46226-3835
Property profile & analytics
4540 Shadeland Ave, Indianapolis, IN 46226-3835
- Grocery and convenience stores
- 45,402 SF
- 5.09 lot acres
Property ID
US31-0474590
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 4540 Shadeland Ave
- Year built
- 1972
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 5.09 lot acres
- 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.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,613,000
- AI Estimate
- $1,313,000
Market price range: $1.49M - $5.40MMarket price range: $1.31M - $3.95M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- 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
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$34,177
$476,000
$773,200
$1,249,200
-
$476,000
$773,200
$1,249,200
