502-516 N Madison Ave
Greenwood, IN 46142
Terrain À vendre · 3,91 AC

Harwood Commercial Group is pleased to present a rare retail redevelopment opportunity in the heart of Greenwood, Indiana. This approximately 3.9162-acre assemblage consists of five assembled parcels strategically located along Madison Avenue within Greenwood's Riverfront District.
Offered at $4,000,000, the property represents one of the last large-scale redevelopment opportunities near Old Town Greenwood. Significant preliminary planning has already been completed, with conceptual development plans reviewed by the City of Greenwood, allowing a future developer to bypass years of acquisition and assemblage efforts and focus immediately on bringing a project to market.
Conceptual plans illustrate two potential retail development scenarios, including approximately 23,400 square feet in a two-building configuration or approximately 32,400 square feet in a single-building configuration. Existing improvements on select parcels may provide interim income during the planning and entitlement process.
The property benefits from an exceptional location along Greenwood's historic Madison Avenue corridor, approximately one mile from US 31, less than three miles from Interstate 65, and approximately fifteen miles south of Downtown Indianapolis. Surrounded by established neighborhoods, schools, employers, and retail destinations, the site offers outstanding visibility, accessibility, and long-term growth potential.
Located within Greenwood's Riverfront District, the property may qualify for a valuable liquor license allocation, creating additional opportunities for restaurants, breweries, entertainment venues, and hospitality-oriented users.