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707 S Madison Ave 49,884 SF 100% Leased Retail Building Greenwood, IN 46143 $8,795,000 ($176.31/SF)

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Investment Highlights

  • National Tenants
  • Road Frontage on 3 Roads
  • High Visibility
  • High Traffic Counts

Executive Summary

Greenwood Centre is a stabilized neighborhood strip center located in Greenwood, Indiana. The property offers durable, diversified retail income supported by triple-net (NNN) expense recoveries and professional third-party management
The asset is well-suited for private investors seeking predictable income with limited expense volatility and long-term retail fundamentals driven by service-oriented tenancy.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
49,884 SF
Building Class
B
Year Built/Renovated
1965/2004
Price
$8,795,000
Price Per SF
$176.31
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
4.57 AC
Zoning
C2 - Commercial
Parking
217 Spaces (4.24 Spaces per 1,000 SF Leased)
Frontage
393’ on E Smith Valley Rd

Amenities

  • Pylon Sign
  • Signage
  • Signalized Intersection

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease End
  • Wholesaler
  • -
  • -
  • -

American Mattress was founded in 1988. Two co-workers from a local family owned mattress company became disheartened after the business was sold to a major corporation.The family owned culture quickly disappeared. Treating customers and employees like family was replaced by big corporate policies. The two friends decided to strike out on their own and create a company with a locally owned culture of friendships and treating every customer like family. The sleep industry had changed over the past 30 years, but the American Mattress brand has never wavered from its original beginnings and remains a symbol for unmatched customer service and the highest quality product offerings. Today, American Mattress remains a locally owned business, with a strong culture of family and community, visit us today and be treated like family!

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -

Animal Clinic Whiteland Greenwood is a full-service veterinary practice located in Greenwood, Indiana. Originally established as Whiteland Animal Clinic in 1984, the clinic rebranded after relocating to its current Greenwood address. The practice provides comprehensive veterinary services, including wellness exams, vaccinations, surgical procedures, dental care, diagnostic imaging, and in-house laboratory testing. Its team focuses on preventive care and treatment for common and complex conditions in companion animals. The clinic emphasizes a pet-friendly environment and offers resources for owners to support ongoing health and nutrition. Animal Clinic Whiteland Greenwood operates as a privately held entity and continues to serve pet owners in Greenwood, Whiteland, and surrounding communities with personalized care.

  • Retailer
  • -
  • -
  • -

Big Red Liquors is a specialty retail company focused on alcoholic beverages and related products. Founded in 1972 and headquartered in Indianapolis, Indiana, the company operates a network of stores across the state, offering a wide selection of beer, wine, spirits, and complementary items such as snacks and mixers. In addition to retail sales, Big Red Liquors provides event services, including bartending and beverage planning for private functions. The company emphasizes convenience through both in-store and online shopping options. Over the years, Big Red Liquors has become a recognized name in Indiana’s beverage retail market, maintaining a reputation for variety and competitive pricing. The business remains privately held and is backed by private equity investment, positioning it for continued growth in the regional market.

  • Retailer
  • -
  • -
  • -

Dollar Tree, Inc. is a major North American discount retailer headquartered in Chesapeake, Virginia. The company operates a large network of small-format stores across the United States and Canada, offering low-priced consumables, household goods, seasonal merchandise, health and beauty products, and snacks. Dollar Tree is widely recognized for its fixed-price strategy, selling most products at a set low price point through its Dollar Tree banner, while its Family Dollar banner offers everyday low-cost merchandise across variable price ranges. Corporate operations at the Chesapeake headquarters oversee merchandising, supply chain, marketing, finance, human resources, and real estate activities supporting thousands of stores nationwide. Dollar Tree emphasizes convenience, value, and efficient distribution, with additional support from multiple distribution centers throughout North America.

  • Retailer
  • -
  • -
  • -

Harbor Freight Tools is a privately held discount tool and equipment retailer founded in 1977 by Eric Smidt and Allan Smidt. Headquartered in Calabasas, California, the company began as a mail-order business and opened its first retail store in 1980. Harbor Freight operates over 1,600 stores across 48 states and employs more than 30,000 people. The retailer offers a wide range of products, including hand tools, power tools, automotive equipment, generators, and shop supplies, marketed under proprietary brands such as Pittsburgh, Bauer, Hercules, and U.S. General. Harbor Freight’s business model focuses on direct sourcing from manufacturers to reduce costs and provide tools at prices significantly lower than competitors. The company also maintains a strong e-commerce presence and offers financing options, loyalty programs, and extended service plans. Harbor Freight remains family-owned and is recognized for its commitment to affordability and value in the tool retail industry.

  • Milto Cleaners
  • -
  • -
  • -
  • -
  • Services
  • -
  • -
  • -

Palm Beach Tan is the nation's largest indoor beauty and tanning franchise system. Luxurious Palm Beach Tan salons provide loyal members and customers with the most advanced tanning and wellness equipment, brand-exclusive tanning and skincare products, along with friendly, knowledgeable staff–all at an exceptional value. With an expanding menu of wellness treatments including full spectrum infrared saunas, red light therapy and halotherapy, Palm Beach Tan is the nation’s leader in personalized beauty therapies. The indoor beauty and tanning category is a major force in the booming beauty and fitness industries. No other brand in the tanning industry combines the exceptional customer service, exemplary management practices and a commitment to sound principles like Palm Beach Tan.

  • Finance and Insurance
  • -
  • -
  • -

The State Farm® mission is to help people manage the risks of everyday life, recover from the unexpected and realize their dreams. Their vision for the future is to be the customer's first and best choice in the products and services they provide. They will continue to be the leader in the insurance industry and they will become a leader in the financial services arena. Their customers' needs will determine their path. Their values will guide them. They are people who make it their business to be like a good neighbor; who built a premier Company by selling and keeping promises through their marketing partnership; who bring diverse talents and experiences to their work of serving the State Farm customer. Their success is built on a foundation of shared values — quality service and relationships, integrity and financial strength. Their company mission is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams.

  • Tanning Hut
  • Administrative and Support Services
  • -
  • -
  • -
  • Accommodation and Food Services
  • -
  • -
  • -

Wingstop is a publicly traded restaurant franchisor and operator known for its cooked-to-order chicken wings and hand-cut fries. Founded in 1994 in Garland, Texas, the company developed a menu centered on chicken wings prepared in a variety of sauces and seasonings. Wingstop’s business model is based on a mix of franchised and company-owned restaurants across domestic and international markets. The organization relocated its corporate headquarters to 2801 North Central Expressway in Dallas, where its administrative, leadership, and investor-relations functions are based. Wingstop began trading publicly in 2015 and continues to expand its geographic footprint through franchise development. The company remains incorporated in Delaware and operates as a NASDAQ-listed restaurant brand. Its corporate activities include brand management, operational support for franchise partners, and oversight of systemwide performance.

Tenant Industry SF Occupied Rent/SF Lease End
Wholesaler - - -
Professional, Scientific, and Technical Services - - -
Retailer - - -
Retailer - - -
Retailer - - -
Milto Cleaners - - - -
Services - - -
Finance and Insurance - - -
Tanning Hut Administrative and Support Services - - -
Accommodation and Food Services - - -
Bike Score®
Very Bikeable (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Horizon Bank
Centier Bank
Steak ‘n Shake
PNC Bank

Property Taxes

Property Taxes

Parcel Number
41-05-05-011-014.000-026
Land Assessment
$837,300
Improvements Assessment
$2,991,100
Total Assessment
$3,828,400
  • Listing ID: 39236926

  • Date on Market: 1/28/2026

  • Last Updated:

  • Address: 707 S Madison Ave, Greenwood, IN 46143

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