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    Greenwood, IN
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    Greenwood, IN Retail Space for Sale

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    Downtown Greenwood Retail/Office Investment
    Updated: May 26
    Downtown Greenwood Retail/Office Investment

    640 South Madison Avenue, Greenwood, IN 46142

    $1,250,000
    7,506 sqft
    Prime downtown Greenwood location with high street visibility and foot traffic.
    Leased through at least October 2027, with part of the main building leased through Nov. 2030, providing immediate income.
    Two buildings: a 6,000 sq ft main building and a 1,500 sq ft freestanding secondary building.
    Located near "The Madison", a large mixed‑use development with retail space and over 400 residential units.
    Lit pylon signage visible from heavily traveled US 31.
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    This listing looks promising.

    Here's a quick look at some key insights for

    640 South Madison Avenue, Greenwood, IN 46142

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    • Est. Cap Rate

      7.6%
      Above avg (5.9%)

    • Est. NOI

      $95K
      Annual

    • Mortgage

      $641K
      Nov 2024

    • Property Type

      Retail Stores
      Built 1998
    View Property Analytics
    Downtown Retail Office Buildings
    Updated: May 21
    Downtown Retail Office Buildings

    640 S Madison Avenue, Greenwood, IN 46142

    $1,250,000
    0.95 AC lot
    Downtown Greenwood retail/office property totaling 7,506 sq ft across two buildings
    Main building: 6,000 sq ft; secondary freestanding building: 1,500 sq ft
    Both buildings currently leased through at least October 2027; part of building 1 leased through Nov. 2030
    Metal roof and guest parking; lit pylon signage visible from heavily traveled US 31
    Located in the heart of downtown Greenwood, surrounded by existing shops and restaurants
    View details
    Freestanding Retail/Office Building
    Freestanding Retail/Office Building

    4978 W Smith Valley Road, Greenwood, IN 46142

    $775,000
    0.80 AC lot

    Freestanding building with B-1 zoning on 0.8 acres, positioned at a major road intersection for office or retail use.

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    Neighborhood Commercial Development Land
    Neighborhood Commercial Development Land

    4648 W Smith Valley Road, Greenwood, IN 46142

    $569,000
    0.89 AC lot

    Nearly 0.9-acre site with about 125 feet of road frontage, suited for a range of neighborhood commercial uses.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Greenwood Retail Building with Warehouse
    Greenwood Retail Building with Warehouse

    645 U.S. Highway 31 North, Greenwood, IN 46142

    $3,500,000
    19,500 sqft 1.13 AC lot

    High-visibility commercial property with stable income and growth potential.

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    C1 Zoned Retail Storefront
    C1 Zoned Retail Storefront

    176 -180 W Main Street, Greenwood, IN 46142

    Contact for pricing
    0.14 AC lot

    Two-address retail property with C-1 zoning, offering flexibility for commercial or service uses subject to approvals.

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    Prime Commercial Opportunity in Greenwood
    Prime Commercial Opportunity in Greenwood

    4978 W Smith Valley Rd, Greenwood, IN 46142

    $775,000
    4,400 sqft 1.00 AC lot

    4400 SF building on nearly an acre in Greenwood.

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    Medical Office and Retail Building
    Medical Office and Retail Building

    1000 Us Highway 31 S, Greenwood, IN 46143

    $2,350,000
    1.53 AC lot

    Combination medical office and retail space on a highly visible U.S. 31 corridor with ample parking and signage.

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    Greenwood Commercial Opportunity
    Greenwood Commercial Opportunity

    1000 North State Road 135, Greenwood, IN 46142

    $1,575,000
    5,000 sqft 2.00 AC lot

    2 acres with retail building and development potential.

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    Medical/Retail Space Near New Development
    Medical/Retail Space Near New Development

    1000 Us Highway 31 S, Greenwood, IN 46143

    $2,350,000
    1.53 AC lot

    Combination medical and retail space near Greenwood's new "The Madison".

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    Based on your search, we've compiled 77 Potential Opportunities for your consideration. Besides 10 Active listings in Greenwood, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 62 Off-Market properties to explore as potential leads, plus 1 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Retail Space on US Highway
    Retail Space on US Highway

    8249-8335 S US Hwy 31, Indianapolis, IN

    $8,840,000
    1,100 sqft 5.51 AC lot

    Retail space available for lease on US Highway 31.

    View details
    Retail Space Near High School
    Retail Space Near High School

    8050 E Southport Rd, Indianapolis, IN 46259

    $1,800,000

    Retail space in a growing suburban Indianapolis market.

    View details
    Retail Space For Sale
    Retail Space For Sale

    5010 E County Line Rd, Indianapolis, IN 46237

    $1,744,144
    2,176 sqft

    Retail space available, 2,176 SqFt, 5.55% CAP rate.

    View details
    Industrial Flex Showroom Warehouse
    Industrial Flex Showroom Warehouse

    5350 Elmwood Avenue, Indianapolis, IN 46203

    Contact for pricing
    5,760 sqft

    Flex-style building with showroom, warehouse, and retail space plus direct Elmwood Avenue frontage and private parking.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Prime PUD-Zoned Land Opportunity
    Prime PUD-Zoned Land Opportunity

    3229 State Road 207, Elkton, FL 32033

    $1,599,000
    900 sqft 2.07 AC lot

    2.07 acres of PUD-zoned land in a growing corridor.

    View details

    Off-Market Properties in Greenwood, IN

    Consider similar Off-Market properties in Greenwood, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    211 Main St
    RETAIL STORES (PERSONAL SERVICES)

    211 Main St, Greenwood, IN 46142-3129

    Value Estimation by Request
    896 sqft 0.06 AC lot
    View details
    105 Madison Ave
    RETAIL STORES (PERSONAL SERVICES)

    105 Madison Ave, Greenwood, IN 46142-3572

    Value Estimation by Request
    2,236 sqft 0.36 AC lot
    View details
    640 Madison Ave
    RETAIL STORES (PERSONAL SERVICES)

    640 Madison Ave, Greenwood, IN 46142-3073

    $585,000
    Estimated value
    6,000 sqft 0.90 AC lot
    View details
    4979 Smith Vly Rd
    RETAIL STORES (PERSONAL SERVICES)

    4979 Smith Vly Rd, Greenwood, IN 46142-9022

    Value Estimation by Request
    4,368 sqft 0.45 AC lot
    View details
    1010 State Rd 135
    RETAIL STORES (PERSONAL SERVICES)

    1010 State Rd 135, Greenwood, IN 46143-9416

    $940,000
    Estimated value
    14,112 sqft 0.52 AC lot
    View details
    755 Main St
    RETAIL STORES (PERSONAL SERVICES)

    755 Main St, Greenwood, IN 46143-1406

    $3,480,000
    Estimated value
    53,793 sqft 8.62 AC lot
    View details
    181 Madison Ave
    RETAIL STORES (PERSONAL SERVICES)

    181 Madison Ave, Greenwood, IN 46142-3572

    $950,000
    Estimated value
    5,935 sqft 0.08 AC lot
    View details
    230 Main St
    RETAIL STORES (PERSONAL SERVICES)

    230 Main St, Greenwood, IN 46142-3128

    $580,000
    Estimated value
    6,080 sqft 0.14 AC lot
    View details
    1229 Blf Rd
    RETAIL STORES (PERSONAL SERVICES)

    1229 Blf Rd, Greenwood, IN 46142-7748

    Value Estimation by Request
    2,240 sqft 0.52 AC lot
    View details
    220 Main St
    RETAIL STORES (PERSONAL SERVICES)

    220 Main St, Greenwood, IN 46142-3128

    Value Estimation by Request
    4,524 sqft 0.41 AC lot
    View details
    711 Fry Rd, Unit 713
    RETAIL STORES (PERSONAL SERVICES)

    711 Fry Rd, Greenwood, IN 46142-3940

    Unit 713
    Value Estimation by Request
    4,044 sqft 0.48 AC lot
    View details
    1277 State Rd 135
    RETAIL STORES (PERSONAL SERVICES)

    1277 State Rd 135, Greenwood, IN 46142-1020

    Value Estimation by Request
    2,925 sqft 0.72 AC lot
    View details
    220 Us Hwy 31st S
    RETAIL STORES (PERSONAL SERVICES)

    220 Us Hwy 31st S, Greenwood, IN 46142

    Value Estimation by Request
    5,480 sqft 0.54 AC lot
    View details
    Morgantown Rd-whiteland Rd
    RETAIL STORES (PERSONAL SERVICES)

    Morgantown Rd-whiteland Rd, Greenwood, IN 46143

    Value Estimation by Request
    280 sqft 69.48 AC lot
    View details

    Greenwood, IN Retail Space Market Trends and Statistics

    Explore 72 retail space for sale in Greenwood, IN, showcased through 10 active listings on our real estate platform. These investment opportunities span a total of 73,604 square feet of properties for sale, with an estimated market value of $13,749,900.

    Sale prices for retail space in Greenwood, IN start at $775,000, averaging $1,964,271, and reaching up to $3,500,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Shopping centers 10
    Storefront properties 6
    Auto shops 2
    Automotive properties 2
    Grocery and convenience stores 2

    Demographics Overview

    Population 94K
    Population Growth (5Y) +11.0%
    Median Household Income $87,969
    College Educated 52.3%

    High-Yield Neighborhoods for Investment

    Identify Greenwood submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    46142 $1.3M
    46143 $2.4M

    Taxes & Financing

    Tax Rate (average for all types) 1.90%
    Property Tax per SF $33.72 per SF
    Tax Rate vs County Average 0.13 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Johnson County

    New Delisted

    Property Size Breakdown

    The majority of commercial real estate listings in Greenwood fall within the 100,000+ square foot range.

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