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Shops on Meridian | 9-Yr WALT | 6.35% Cap 201 S State Road 135 4,051 SF 100% Leased Retail Building Greenwood, IN 46142 $3,038,661 CAD ($750.10 CAD/SF) 6.34% Cap Rate
Investment Highlights
- 100% Leased High-Impact Corner Retail With ~10 Years of Lease Term Remaining
- Rare 3.50% Annual Rental Increases and 8.46% Cap by Year 10
- Indianapolis Is the Fastest-Growing Metro in the US (Source: The Bank of America Institute) with 77k Population & $103K Income (3-Mile)
- Long Term NNN Leases to National Tenants: Jamba / Auntie Anne’s & Mathnasium
- Signalized Intersection Across from Meijer (1.8M annual visits per Placer.AI)
Executive Summary
The Property benefits from exceptional underlying fundamentals. Average household incomes within a one-mile radius approach $104,000, and Greenwood ranks among Indiana’s fastest-growing cities, having expanded 80% since 2000 and growing faster than 87% of similarly-sized U.S. cities. Employment in Greenwood grew approximately 7% from 2023 to 2024, adding over 2,200 jobs. Within a 2.5-mile radius, more than $110 million in newly delivered and approved development is actively reshaping the trade area, anchored by the 90-acre Center Grove Park mixed-use PUD approved in December 2024, which will deliver 250 apartment units and up to 150,000 square feet of commercial space directly along SR 135. At the citywide level, over 1,625 single-family homes and 594 apartment units are currently under construction. Further reinforcing the corridor’s long-term trajectory, furthermore, traffic volumes projected to increase 70% by 2040.
Greenwood sits just 15 minutes south of downtown Indianapolis, one of the Midwest’s most stable and fastest-growing metros with a population approaching 2.3 million. The region consistently ranks among the top U.S. metros for affordability, job growth, and quality of life, and Indiana was recently ranked the #1 state for business. With a 9.5-year WALT, rare 3.5% annual rent escalations, a signalized hard-corner location directly across from a dominant grocery anchor, and a synergistic franchise tenant mix backed by Greenwood’s robust demographic and development tailwinds, Shops on Meridian represents a compelling opportunity to acquire a durable, long-term income stream in one of the Midwest’s strongest suburban growth markets.
Greenwood sits just 15 minutes south of downtown Indianapolis, one of the Midwest’s most stable and fastest-growing metros with a population approaching 2.3 million. The region consistently ranks among the top U.S. metros for affordability, job growth, and quality of life, and Indiana was recently ranked the #1 state for business. With a 9.5-year WALT, rare 3.5% annual rent escalations, a signalized hard-corner location directly across from a dominant grocery anchor, and a synergistic franchise tenant mix backed by Greenwood’s robust demographic and development tailwinds, Shops on Meridian represents a compelling opportunity to acquire a durable, long-term income stream in one of the Midwest’s strongest suburban growth markets.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,051 SF
Building Class
B
Year Built/Renovated
2016/2026
Price
$3,038,661 CAD
Price Per SF
$750.10 CAD
Cap Rate
6.34%
NOI
$192,746 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
0.46 AC
Zoning
C2 - Commercial
Parking
14 Spaces (3.46 Spaces per 1,000 SF Leased)
Frontage
332’ on South State Road 135
Amenities
- Signalized Intersection
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 41-03-36-032-071.001-041 | Improvements Assessment | $729,554 CAD |
| Land Assessment | $338,378 CAD | Total Assessment | $1,067,931 CAD |
Property Taxes
Parcel Number
41-03-36-032-071.001-041
Land Assessment
$338,378 CAD
Improvements Assessment
$729,554 CAD
Total Assessment
$1,067,931 CAD
(310) 691-1350
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Contacts
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David Chasin -
Daylin Ackerman -
Corey Allen -
Jed Siegel -
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Shops on Meridian | 9-Yr WALT | 6.35% Cap | 201 S State Road 135
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