Westgate Plaza Shopping Center

Highlights:

• Grocery Anchored: Kroger occupies 74% of GLA and contributes 60% of Center’s Gross Income. 877k Annual Customer Visits. Top 25% Nationally.
• New 7 Year Lease: Lease with Humana at $16/SF NNN adds strong medical traffic to center
• Significant Frontage: 550 Ft of frontage situated along Washington Street with 20,700 VPD; East-West arterial connects Downtown Indianapolis with I-465.
• National Tenants: 6 of 7 Tenants occupying 94% of GLA are National Brands.
• Population Growth: Indianapolis MSA – strong 13.4% population growth since 2010 Census.

Description:

Marcus & Millichap and RI Marketplace are pleased to present a rare opportunity to acquire a 66,469 SF grocery-anchored community shopping center in the heart of Indianapolis, Indiana. The center is 97% occupied, anchored by a long-standing Kroger with a strong operating history and complemented by a mix of national and daily-needs tenants.

For more details visit: https://rimarketplace.com/auction/2636/retail/indianapolis/in?utm_source=brevitas&utm_medium=listing_paid&utm_campaign=june24_2026&utm_content=retail_2636

The center benefits from exceptional foot traffic driven by its Kroger anchor, which attracts approximately 877,000 customer visits annually and ranks in the top quartile nationally on a visits‑per‑square‑foot basis. The property also includes a Kroger fuel outparcel and a drive-thru pharmacy, enhancing its convenience and customer draw. A newly signed 7-year lease with Humana CenterWell Senior Primary Care adds a strong medical component, while five long-standing small-shop tenants, including Papa John’s and H&R Block, provide stability and consistent income. With all tenants on NNN leases and a 91.4% recovery of landlord expenses, the center offers operational efficiency and upside potential through the lease-up of a 1,900 SF vacancy. Strategically located just 0.8 miles from I-465 and along the high-traffic W. Washington Street corridor (20,700 VPD), the property enjoys 550 feet of frontage, a signalized entrance, and proximity to major national retailers. Situated in a densely populated area within the growing Indianapolis MSA, this asset is priced well below replacement cost and positioned for long-term success.