Indianapolis Retail Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield
Quarterly retail market indicators for Indianapolis, aggregated by CREhunt from Cushman & Wakefield. As of Q2 2026, average asking rent was $17.29/SF/yr and vacancy was 4.9%, per Cushman & Wakefield.
Projected current retail pricing — Indianapolis
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Indianapolis retail yet, so this applies the typical cap rate across comparable retail markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 6.1%–7.2%, asking rent held flat). Assumes ~95% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $17.29/SF/yr | 4.9% | 40K SF | — | Cushman & Wakefield |
| Q1 2026 Cushman & Wakefield | $17.97/SF/yr | 4.8% | -18K SF | 305 SF | Cushman & Wakefield |
| Q4 2025 Cushman & Wakefield | $16.67/SF/yr | 4.8% | — | — | Cushman & Wakefield |
| Q3 2025 Cushman & Wakefield | $17.57/SF/yr | 5.0% | — | — | Cushman & Wakefield |
| Q2 2025 Cushman & Wakefield | $17.02/SF/yr | 5.1% | -348K SF | — | Cushman & Wakefield |
| Q1 2025 Cushman & Wakefield | $17.24/SF/yr | 4.2% | -37K SF | — | Cushman & Wakefield |
Retail asking rents by submarket
The newest asking rent a named brokerage's report published for each Indianapolis retail submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Avon | $24.82/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Beech Grove | $13.07/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Broad Ripple/Glendale | $17.66/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Brownsburg | $20.51/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Carmel | $26.93/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Castleton | $18.07/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Downtown Indianapolis | $20.75/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Fishers | $38.29/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Greenwood | $21.81/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Irvington | $13.21/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Keystone | $20.00/SF/yr Cushman & Wakefield · Q4 2025 | Cushman & Wakefield, Q4 2025 |
| Lafayette Square | $12.19/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Michigan Road/Zionsville | $31.44/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Midtown | $17.00/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Mooresville | $17.10/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Near East/Fountain Square | $14.50/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Near Southwest/Airport | $16.74/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Noblesville | $17.40/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Nora | $21.00/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Pendleton Pike/Lawrence | $13.43/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Plainfield | $14.47/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southport/Edgewood | $15.74/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Washington Square | $9.83/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Westfield | $28.68/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Whitestown | $26.00/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
Frequently asked questions
- What is the average asking rent for retail space in Indianapolis?
- As of Q2 2026, the average asking rent for retail space in Indianapolis was $17.29/SF/yr, per Cushman & Wakefield.
- What is the retail vacancy rate in Indianapolis?
- The retail vacancy rate in Indianapolis was 4.9% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Indianapolis market data come from?
- This report aggregates quarterly retail market data for Indianapolis from Cushman & Wakefield.