4540 Shadeland AveIndianapolis, IN 46226

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.