3115 Meridian Parke DrGreenwood, IN 46142

Property Details for 3115 Meridian Parke Dr

Year built

1989

Construction

TYPE NOT SPECIFIED

Lot size

4.57 AC

Property size (Sq ft)

31,496 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

41-03-35-011-003.000-041

APU

410335011003000041

Description

Meridian Parke Shopping Center offers a prime retail opportunity within a thriving commercial area. This single-story, 31,673 square foot shopping center sits on a 4.6-acre parcel, strategically located along a well-established retail corridor. The property boasts excellent visibility and accessibility with multiple points of ingress and egress. A significant advantage is its shadow-anchored position by major retailers Kroger and Meijer, ensuring high foot traffic. The center's proximity to other prominent national retailers such as Target, Home Depot, Menards, Walmart, and LA Fitness further enhances its desirability. Currently, one retail space of approximately 1,500 square feet is available (Unit O). The property features pylon signage opportunities for increased brand visibility. The center is zoned PUD and currently includes Jack's Donuts among its tenants. This presents a unique chance to establish a business within a bustling retail environment, benefiting from the established customer base and high traffic volume of the surrounding area. The available space is ideal for a variety of retail or restaurant concepts.

• CAP approach

  CAP return

  Valuation

  6%

  $5,711,206

  6.5%

  $5,271,883

  7%

  $4,895,320

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,832,162

  Geo Method

  $6,832,162

• Alternative Use

  Use

  Valuation

  Residential

  $4,447,030

  Hospitality

  $4,073,456

  Educational

  $3,389,068

  Medical

  $3,505,623

  Retail

  $5,271,883

Location Insight

City

Greenwood

County

Johnson

State

Indiana

Latitude

39.6174

Longitude

-86.1605

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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