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33965943
33965942

3119 East Thompson Road, Indianapolis, IN 46227

DK
IN RB 14049256
Marcus & Millichap - Indianapolis
JK
IN RB14043752
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis
$5,750,000
2 days on market
Updated 2 days ago

Carson Square

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 55,580
Cap Rate 8.32%
NOI $478,305
Occupancy 100%
Tenancy Multi
Lease Type NNN
Price per SqFt $103
Year Built 1974
Acreage 6.100
Ground Lease No

100% Occupied | Net Leases | Low Price Per Foot

Marketing description

The Klink Group is pleased to exclusively offer for sale Carson Square, a 55,580 square foot neighborhood retail center strategically located in Indianapolis, Indiana. This offering presents a rare opportunity to acquire a well-positioned shopping center within a densely populated trade area, supported by a substantial residential base and strong daily traffic patterns.

Carson Square is anchored by The Atrium, a nearly 20,000 square foot event venue that serves as a destination for weddings, celebrations, corporate functions, and community events throughout the year. Supporting the anchor is a diverse collection of experiential and service-based tenants, including Thang Family Grocery, Gallagher's Pub & Eatery, Barn in Time Paw Spa, Seoul Spa, fitness concepts, and entertainment operators. This highly differentiated tenant mix creates recurring visitation patterns and generates traffic throughout the day and evening, positioning the center as both a retail destination and community gathering place. This diversified traffic profile enhances tenant synergy and contributes to the long-term stability of the asset.

Additionally, Carson Square benefits from its immediate proximity to Roncalli High School, which serves more than 1,100 students. The school's daily activity generates a consistent flow of traffic to the surrounding area and further strengthens the center's position as a community-oriented retail destination.

With its strategic location, diverse and internet-resistant tenant mix, strong surrounding demographics, and established role within the community, Carson Square is well-positioned to continue serving as a premier neighborhood shopping center. The offering gives investors an opportunity to acquire a high-quality retail asset featuring in-place rents averaging just over $8.00 per square foot. This provides investors with a compelling rent growth opportunity and meaningful upside through future lease renewals and tenant turnover within one of Indianapolis' most established retail corridors.

Investment highlights

  • Carson Square is 100% occupied by local, service-based retailers that cater to the immediate neighborhood.
  • 82% of the GLA operates under triple-net leases, tenants reimburse their pro-rata share of common area maintenance, property taxes, insurance, management, and provide an administrative fee.
  • The diverse tenant mix at Carson Square provides a shopping, dining, and entertainment experiences to the immediate area all in one location.
  • Majority of the tenants have annual rental increases throughought the remainder of the firm term of their lease.
  • No renewal option periods remaining on any of the current tenants allows an incoming investor to renogtiate leases to market rate.

Listing Contacts

DK
IN RB 14049256
Marcus & Millichap - Indianapolis
JK
IN RB14043752
Marcus & Millichap - Indianapolis
Listed by Marcus & Millichap - Indianapolis

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$478,305.00
$39,858.75/mo

Valuation Metrics

0
DSCR
8.32%
Cap Rate
8.32%
ROI

Map

Zoning

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C4 CommercialNeighborhood CommercialCommunity Regional District
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Last updated May 11, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
David Klink
License
RB 14049256
Brokerage Phone
317.218.5324
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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