For Lease

3131 Shelby St

3131 Shelby St, Indianapolis, IN 46227

3,732

SF Available
Located in the vibrant city of Indianapolis, the area surrounding the property is bustling with activity and opportunity for retail tenants. Just minutes away from popular destinations like the Greenwood Park Mall and the University of Indianapolis, this location boasts a steady flow of foot traffic and eager shoppers. The surrounding neighborhood is home to a diverse mix of retail, dining, and entertainment options, making it an ideal setting for businesses looking to attract a wide range of customers. With its convenient access to major roads and highways, the area offers excellent visibility and accessibility for retail enterprises looking to establish a strong presence in this thriving community.This southside commercial building offers a strong opportunity for a restaurant or bar operator looking to customize a space to fit their vision. Over 3,000sf, including additional basement storage. The interior includes a bar area with a 3-Drawer Cooler & 3-Bay Sink, Men’s and Women’s restrooms, and full kitchen with hood, prep stations, grill, fryer, handwashing sink, and 3-Bay Sink. Downstairs is ample for additional storage. Outside, you'll find a small patio and stage for live entertainment. Zoned MU‑1, the property sits in a high‑visibility corridor with steady traffic, making it a promising location for a new or expanding hospitality concept.

Key features

  • 30+ Parking Spaces
  • Equipment Included but not warranted
  • Modified Gross Lease

Rental Details

  • Number of spaces 1
  • Total square feet available 3,732 SF
  • For Lease $4,000.00/MO
  • Space Types Restaurant
  • Lease Type Modified Gross
  • Date Updated May 14, 2026
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

For Lease 1 Space Available

Contacts

Shelly Johnson

Keller Williams Indy Metro South

Building Details

  • For Lease $4,000.00/MO
  • Property Type Retail - Street Retail
  • Property Size 3,732 SF
  • Lot Size 0.38 Acre
  • Building Class C
  • Year Built 1950
  • Date Updated May 14, 2026

Getting Around

  • Walk Score ®

    Somewhat Walkable (64)

  • Transit Score ®

    Some Transit (39)

  • Bike Score ®

    Bikeable (58)
Powered by Walk Score ®

Location

  • City Indianapolis, IN
  • Neighborhood University Heights
  • Zip Code 46227
  • Market Indianapolis

Points of Interest

Speedway

0.86 miles

Marathon

0.99 miles

GetGo

1.02 miles

Shell

1.07 miles

BP

1.17 miles

ChargePoint

2.83 miles

Electrify America

3.23 miles

Tesla Supercharger

3.35 miles

Tesla Destination Charger

5.08 miles

ADA Parking

2.43 miles

Lot C

2.74 miles

LaRosa South

2.77 miles

Lot 43 South

2.79 miles

Lot 48

2.80 miles

Lot 98

2.83 miles

Lot 35

2.85 miles

Lot 43 North

2.90 miles

Rolls-Royce Employee and Visitor Parking

2.94 miles

Kroger

1.17 miles

Walmart Neighborhood Market

1.23 miles

Safeway

1.26 miles

Express Neighborhood Market

2.01 miles

Aithawng Asia Grocery

2.18 miles

Village Food Mart

2.24 miles

21 Asian Grocery

2.32 miles

Big Lots

2.37 miles

Trans-Plants

2.47 miles

3131 Shelby St Listing Summary

  • The Price for Retail Space at 3131 Shelby St

    The cost of renting retail space in a property highly depends on features such as its location, parking availability and type of retail space, or advantages and features that might be unique to it. When it comes to 3131 Shelby St, asking rent starts at $$4,000.00/MO per square foot.

    Reach out to the listing broker for information on best parking and other access options at or near the property.

  • Retail Space Options Available at 3131 Shelby St

    The property exclusively contains Restaurant space totaling 3,732 square feet. The leasing opportunity here is available under Modified Gross lease terms.

    In addition to retail space type, you will also need to consider the space size that you need for your business to operate at its best. You will find 1 retail space(s) ranging from 1,000 square feet to 10,000 square feet at 3131 Shelby St, which can serve small or medium retail businesses that are planning to accommodate growth throughout the duration of their lease at this address. For more information or to schedule a tour of the property, reach out using the contact form on this page to get in touch with a broker.

Contact Listing Broker
Shelly Johnson

Keller Williams Indy Metro South

  1. 1Main information
  2. 2Extra information
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