Property Overview
4560 N Shadeland Avenue presents a dynamic commercial real estate opportunity in a high-traffic corridor of Indianapolis. This is positioned at the signalized intersection of N Shadeland Ave and E 46th Street, offering excellent visibility, high daily traffic counts, and direct access to surrounding residential and commercial areas. Built in 1961 and renovated in 2005, the center remains a functional and well-occupied retail destination with a strong mix of national and local tenants serving the northeast Indianapolis community.
Location & Accessibility
Strategically located in Marion County, this retail center benefits from over 690 feet of total street frontage, with approximately 495 feet along N Shadeland Ave and 205 feet on 46th Street. The intersection sees consistent vehicular activity throughout the day, drawing customers from a wide surrounding residential population. The site is also just minutes from I-70 and I-465, offering seamless access for regional consumers and delivery networks.
The N Shadeland corridor is known for its blend of commercial, service, and retail operators, making it an ideal location for neighborhood-serving businesses. The area surrounding the property includes dense single-family housing, apartment communities, schools, and places of worship, all of which contribute to steady local traffic. Public transportation routes also run along the corridor, increasing accessibility for customers and employees.
Site & Building Details
Zoning: C4 – Commercial
Parking: 197 striped surface spaces (approx. 4.4 per 1,000 SF)
Frontage: ~495 ft on Shadeland Ave, ~205 ft on E 46th Street
Signage: Monument/pylon sign and individual tenant signage
Visibility: Excellent, with multiple curb cuts and two signalized corners
The building’s construction is solid and functional, with a rectangular layout that supports efficient tenant subdivision and high visibility from both streets. Storefronts are glass-fronted and vary in size, offering a flexible mix of inline retail, office, and service spaces. Exterior lighting, façade upgrades, and landscaping enhancements have been completed as part of past capital improvements.
Tenant Mix
The center is currently anchored by:
Family Dollar – National discount retail brand serving everyday needs
Centra Credit Union – Well-established regional financial institution
Annu Eyebrows – Popular local salon with long-standing clientele
Multiple specialty and service tenants – Including barbershops, retail boutiques, food service, and professional offices
The property maintains a strong occupancy rate, with very limited current availability, reflecting stable in-place cash flow and tenant satisfaction. The center draws repeat traffic from both the residential base and area employees, with a well-balanced mix of destination and impulse-use tenants.
Available Space
While occupancy is high, one small suite (typically ±1,400 SF) is available, ideal for:
Nail salons / barber shops / beauty parlors
Community Health Clinic
Educational Center/ Bookstore
Specialty retail (smoke shops, apparel, electronics, etc.)
Fitness or wellness users
Smoothie Bar
Tech Repair shop
Each unit features private entrances, prominent signage, and shared parking access. Tenant-controlled utilities and 24/7 access support flexible business operations.
Demographics & Trade Area
Within 3 miles:
Population: 95,000+
Households: 35,000+
Average Household Income: $49,000+
Traffic Count: ~23,000 vehicles per day on Shadeland Ave
The surrounding population includes a diverse and growing mix of working families, retirees, and young professionals, supporting a wide range of business types. The strong local workforce and consistent vehicular traffic position this center to thrive in all economic conditions.
Investment Highlights
Stabilized Income: Longstanding tenants with proven performance
High Visibility Corner Lot: Dual frontage and signalized access from both Shadeland and 46th
Ample Parking: 197 striped surface spaces to accommodate peak retail traffic
Zoning Flexibility: C4 zoning allows for wide-ranging commercial uses
Upside Potential: Opportunity to improve rents, upgrade façade, or re-tenant select spaces
Dense Residential Adjacency: Daily needs and service-based demand from nearby neighborhoods
Strong Tenant Mix: Combines national brands with high-performing local operators
Capital Improvement Opportunity: Light cosmetic upgrades can boost long-term value and tenant retention
Potential for Repositioning
For investors or developers, the site offers potential for partial redevelopment or repositioning to accommodate:
Outparcel development or drive-thru pad (subject to zoning/permitting)
Medical, dental, or behavioral health service integration
Community use within unused or expanded suites
The building’s depth, lot size, and zoning make it versatile for adaptive reuse strategies or continued operation as a stabilized neighborhood center.
Conclusion
4560 N Shadeland Ave represents a prime opportunity to acquire or lease space within a high-performing, well-situated retail center in northeast Indianapolis. Whether you're seeking an investment with predictable cash flow or a retail/office space in a proven location, this property delivers on visibility, accessibility, and long-term value. With strong traffic counts, a loyal tenant base, and room for strategic upgrades, Shadeland Corner offers exceptional potential in one of Indianapolis’s most accessible commercial corridors.
