Your email has been sent.
505 E Thompson Rd 10,125 SF of Retail Space Available in Indianapolis, IN 46227
Highlights
- Former nationally recognized retail building with strong market familiarity.
- High-visibility corner location with excellent traffic exposure.
- Convenient proximity to major interstates and city thoroughfares.
- Flexible interior layout suitable for diverse retail concepts.
- Drive-thru availability providing enhanced customer convenience.
- Surrounded by dining, retail, and recreational amenities including Garfield Park.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor, Ste 505 | 10,125 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
1st Floor, Ste 505
Stand-alone former CVS retail building with prominent façade and versatile interior space in a well-established south Indianapolis corridor.
- Fully Built-Out as Standard Retail Space
- Space is an outparcel at this property
- Former single-tenant retail occupancy.
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 10,125 SF | Gross Leasable Area | 10,125 SF |
| Property Type | Retail | Year Built | 1999 |
| Property Subtype | Drug Store | Parking Ratio | 5.43/1,000 SF |
| Total Space Available | 10,125 SF |
| Property Type | Retail |
| Property Subtype | Drug Store |
| Gross Leasable Area | 10,125 SF |
| Year Built | 1999 |
| Parking Ratio | 5.43/1,000 SF |
About the Property
Positioned along a high-visibility corridor on the south side of Indianapolis, this former CVS stand-alone building offers an exceptional opportunity for retailers seeking a recognizable, easily accessible location within a mature commercial trade area. Featuring a prominent façade and a versatile, open interior layout, the property provides a flexible environment well-suited for a wide range of concepts, including health and wellness, soft goods, service retail, boutique specialty uses, or an adaptive reuse model. The existing floor plan supports creative configurations, giving tenants the ability to shape a curated customer experience aligned with their operational needs and brand identity. Pylon signage and a drive-thru window further enhance the site’s appeal by offering added visibility and convenience, both significant advantages in today’s retail landscape. Located at the southwest corner of Thompson Road and East Street/US-31, the site sits within a dynamic commercial corridor surrounded by established national and local retailers, dining options, and daily-needs services. The property benefits from excellent regional connectivity, with immediate access to major thoroughfares including I-465, I-65, I-69, and US-31, making it highly accessible for both local and regional customer traffic. Nearby community anchors such as Garfield Park contribute to steady daytime and residential activity, while the surrounding neighborhoods offer consistent footfall and vehicular traffic to support tenant success. This corridor continues to experience stable economic activity, supported by an engaged residential base and strong consumer demand for convenience-oriented retail. Offering negotiable lease terms and abundant parking, the property represents a compelling opportunity for tenants seeking a highly visible position within a proven Indianapolis retail destination. With its adaptable layout, strong traffic presence, and established location fundamentals, this former CVS building is primed for retailers aiming to establish a long-term presence in a vibrant and well-connected trade area.
- Bus Line
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Wheelchair Accessible
- Air Conditioning
Nearby Major Retailers
Presented by
505 E Thompson Rd
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.