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640 S Madison Avenue

Greenwood, IN 46142

ActiveListed May 21, 2026 · 126 days on market

Key facts

Living area
7,500 sqft
Lot
0.948 acres
Type
Commercial Sale · Retail
MLS #
22103017
County
Johnson
Total building area
7,500 sqft

About this home

7,506 sq ft Retail/Office located in the heart of downtown Greenwood. This prime location guarantees street visibility, high foot traffic and maximum exposure. Property consists of two buildings: 1.) Main building of 6,000 sq ft. and 2.) Freestanding 1,500 sq ft secondary building. Building 1 and building 2 are currently leased through at least October 2027, with part of building 1 leased through Nov. 2030. Lit pylon signage is visible from the heavily traveled US 31. Surrounded by other existing shops, restaurants, gas stations and more. This site is also surrounded by "The Madison", a luxury, mixed-use/live,work,play design, the very first of its kind for downtown Greenwood and the new Greenwood Fieldhouse. The Madison features 18,700 square feet of retail space, and over 400 luxury condominiums, townhomes and apartments. Don't miss out on this lucrative and long-standing Investment Opportunity!

Description provided by the listing brokerage.

Exterior

Roof
Metal
Parking and garage
Guest

Systems

Utilities
Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected

Lot and HOA

Zoning
Commercial Medium

Schools

Middle school
Greenwood Middle School
High school
Greenwood Community High Sch
School district
Greenwood Community Sch Corp

Taxes

Estimated annual tax
$7,944 / yearTwice the semi-annual installment the listing reports.
Tax year
2025

Estimate your monthly payment

$7,400per month, estimated
Principal and interest $6,301Property tax $662Insurance $438
20% · $250,000
6.47%
Loan type
Loan term

Estimates only. This calculator does not give a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.

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Listed at$1,250,000
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