3131 Shelby St

For Lease

3131 Shelby St, Indianapolis, IN 46227

You can currently find 1 retail space(s) available for lease at 3131 Shelby St. Designated use type for space listed here includes restaurant. Current retail listings at this property total 3,732 square feet. Lease type options include Modified Gross. Expand the listing and property details below for additional information on leasing opportunities at 3131 Shelby St.

Space Available For Lease 1

Contacts

Shelly Johnson

Keller Williams Indy Metro South

Property Details

  • 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
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.
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Highlights

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

Getting around

  • 64/100

    Walk Score ®

  • 39/100

    Transit Score ®

  • 58/100

    Bike Score ®

Powered by Walk Score ®

Location

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

Points of Interest

  • Mobil

    0.24 miles

  • 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

  • Visitor

    0.82 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

  • Church's Chicken

    0.21 miles

  • Domino's

    0.56 miles

  • Arby's

    0.57 miles

  • Books and Brews

    0.69 miles

  • Pollo Los Reyes

    0.69 miles

  • Popeyes

    0.72 miles

  • McDonald's

    0.77 miles

  • Sabor Latino

    0.78 miles

  • KFC

    0.89 miles

  • Wendy's

    1.08 miles

  • ALDI

    0.59 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 Brief

  • A property’s location contributes to the asking rent almost as much as its characteristics do. For instance, central urban locations with high walkability or suburban locations with ample parking and easy access by car will claim higher rents but offer superior access to your customer base. Likewise, the quality of the building systems and property finishes have a significant impact on how businesses can conduct their activity there, as well as on the experience of their customers.

    Retail space at 3131 Shelby St asks $4,000.00/MO per square foot.

  • The property includes 3,732 square feet of retail space for lease. Of this total, 3,732 square feet are Restaurant.

    Lease agreement conditions for the availability at this property include Modified Gross.

    For more information or to schedule a tour of the property, use the convenient contact form on this page to get in touch with a representative.

  • You should keep in mind that different areas gradually build a reputation as hotspots or desirable corridors for shopping, eating, or other entertainment and consumer activities. So, while renting retail space in an area with a well-established high-end reputation might mean more customers that are more willing to spend, it will also place you in a more competitive environment.

    Knowing your ideal customer is essential. For your consideration, the average age of residents in University Heights is 33. The average household income here is $53,629 per year.

Contact Listing Broker
Shelly Johnson

Keller Williams Indy Metro South

  1. 1Main information
  2. 2Extra information
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