10695 E US Highway 36 - Storefront FOR SALE


Avon, IN 46123
$10,578,000 USD
310-691-1350
10695 E US Highway 36, Avon, IN for Sale
$10,578,000 USD
Storefront - FOR SALE
1/7
null | 7.15% Cap Rate

10695 E US Highway 36
Avon, IN 46123


HIGHLIGHTS

  • Prime Location at the 50-Yard Line of one of the Most Highly Sought After Retail Corridors in Indianapolis
  • Desirable Shopping Center Site at Entrance to 100% Occupied, 463,000 SF, Raceway Plaza Shopping Center
  • Long-Term 10+ Year Leases - New 10-Year Lease & Recent 12-Year Extension Solidi?es Tenants’ Commitment to Location
  • #1 Midwest Metro Area for Net Migration & GDP Growth
  • Zero Box Vacancy - 100% Occupancy for Retail Spaces of 20k SF or Greater in Corridor
  • Long-Term Fungibility - With 50,000 SF Building + Large 5.24-AC Parcel & Dedicated Parking Field

OVERVIEW

Pegasus Investments Real Estate Advisory Inc., as exclusive advisor to seller, is pleased to present the rare opportunity to purchase a strategically located, two-tenant net leased investment property spanning 50,000 square feet of GLA on a large, 5.24-acre lot in the extremely desirable Avon submarket of Indianapolis, Indiana (the “Property”). The Property is strategically located at the 50-year line of the region’s dynamic Rockville Road retail corridor, providing prime visibility to 45,000 vehicles per day. The corridor features major retail tenancy including Target, Walmart Supercenter, Lowe’s Home Improvement, Kroger Grocery and a newly developed 160,000 square foot Costco Wholesale anchored shopping center. Additionally, the Property is located at the signalized entrance of Raceway Plaza, a 100% occupied, 463,000 square foot shopping center anchored by a 205,000 square foot Meijer grocery store and a garden-center equipped, 160,000 square foot Menard’s home improvement store, both of which corporately own their own real estate. The Property features credit rated, industry leading tenancy from Bob’s Discount Furniture (S&P: “B”), the #8 ranked furniture store in the U.S. per Forbes and PetSmart (S&P: B+), the largest pet supply company in the U.S. Each tenant is secured by long-term, corporate, 10-year and 12-year leases respectively, with scheduled rent increases throughout their lease terms.

FOR SALE DETAILS

PRICE

$10,578,000 USD

PRICE/SF

$211 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2-Tenant Corporate-Backed Investment

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

223

LAND DETAILS

LAND ACRES

5.24 AC

LAND SF

228,254 SF

ZONING

-

APN/PARCEL ID

32-09-08-202-002.000-031

ASK ABOUT THIS PROPERTY

David ChasinPegasus InvestmentsMore Info
310-691-1350

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David ChasinPegasus InvestmentsMore Info
310-691-1350

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.