Overview
Riverhead on Rangeline offers the opportunity to acquire a fully leased three-parcel assemblage at the intersection of Main Street and Rangeline Road, the centerpiece of Carmel's nationally recognized Arts & Design District. The portfolio combines stable in-place cash flow from an established tenant roster with ownership of a highly constrained infill asset in one of the Midwest's most desirable mixed-use districts.
Surrounded by boutique retail, restaurants, galleries, Midtown Carmel, and the Monon Greenway, the property benefits from strong pedestrian activity, exceptional barriers to entry, and a location that continues to attract both tenants and investment capital. Carmel's affluent demographics, highly educated workforce, and sustained population growth further reinforce the long-term durability of the investment.
Investment Highlights
- Irreplaceable location at the corner of Main Street and Rangeline Road - the epicenter of the Carmel Arts & Design District
- Limited land sites along Main Street create an extraordinary barrier to entry for new development; while short-term leases create the ideal condition for a covered land play
- Scarce ownership opportunity with rapid rent growth of 7-10%/year
- Over 71,000 people in a 3-mile radius with an average household income of $182,302 as of 2026
- Walkability to retail shops & services, restaurants, nightlife and other notable amenities; two blocks from the Monon Greenway Trail
- Heavily trafficked pedestrian corridors surrounded by upscale residential, boutiques, galleries and restaurants
- Recent redevelopments along Main Street have included several
- Class A multi-story mixed-use assets including First on Main, Sophia Square and Ardalan Plaza
Property Overview
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