1222-1346 N State St - Retail FOR SALE


Greenfield, IN 46140
$13,850,000 USD
812-320-8483
1222-1346 N State St, Greenfield, IN for Sale
$13,850,000 USD
Retail - FOR SALE
1/3
null | 8.1% Cap Rate

1222-1346 N State St
Greenfield, IN 46140


HIGHLIGHTS

  • 93.77% Occupied Neighborhood Shopping Center | Indianapolis, IN MSA | 23 Miles from Indianapolis City Center
  • Four Buildings Total with Newly Developed Outparcel Buildings: AT&T (2016), Jimmy John's and Don Rigo (2015), McAlister's Strip Center (2023)
  • Value Add Components: Leasing up the Vacant Space, Increasing the Below Market Rents Over Time, and Converting Remaining Gross Leases to NNN

OVERVIEW

-93.77% Occupied Neighborhood Shopping Center with Service, Retail, and Restaurant Tenant Mix | 23 Miles from Indianapolis City Center | Half Mile from I-70 (52,860 VPD) -Anchored by Corporately Owned Great Lakes Ace Hardware | Site Offers Three Drive-Thrus and Don Rigo has a Patio -Newly Developed Outparcel Buildings: AT&T (2016), Jimmy John’s and Don Rigo (2015), McAlister’s Strip Center (2023) -Located at the Signalized Intersection on the Main Retail Artery of Greenfield, IN | High Traffic Corridor with 25,839 Cars Per Day | Site Benefits from Oversized Pylon Sign Located at Main Entrance | Six Points of Ingress/Egress -Significant, Recent Capital Expenditures Made by Landlord – Brand New Anchor Redevelopment and McAlister’s Strip Center | Ace Hardware’s Roof was Replaced in 2022 | The Ace Hardware Building, AT&T and Jimmy John’s Center All have 20-Year Roof Warranties | McAlister’s Center has a 10-Year Roof Warranty -Value Add Components: Leasing Up the Vacant Space, Increasing the Below Market Rents Over Time, and Converting Remaining Gross Leases to NNN -Strong Performing Retailers: The Nearby Kroger Ranks 88% Nationwide in Visits |In Indiana, Home Depot Ranks 95%, Starbucks Ranks 94% Chick-Fil-A Ranks 97%, Walmart Ranks 95%, Planet Fitness Ranks 84%, Cracker Barrel Ranks 92%, Tractor Supply Ranks 84% in Foot Traffic (Placer.AI) -In McKenzie Plaza, McAlister’s Deli Ranks 88% and Aaron’s Ranks 87% Nationwide in Foot Traffic (Placer.AI) -Part of the Indianapolis MSA with over 2.1 Million Residents | Indianapolis is the 16th Largest City in the US | | Indiana was Ranked as the Best State to Start a Business by Forbes in 2023 | Venture Investments in the Indianapolis MSA Surpassed $1 Billion for the Second Consecutive Year in 2023

FOR SALE DETAILS

PRICE

$13,850,000 USD

PRICE/SF

$165 USD /SF

CAP RATE

8.1%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

McKenzie Plaza | Indianapolis, IN MSA

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

11

LAND DETAILS

LAND ACRES

7.71 AC

LAND SF

335,848 SF

ZONING

C

APN/PARCEL ID

30-07-29-400-010.001-009,30-07-29-403-003.000-009,30-07-29-403-004.000-009,30-07-29-403-004.001-009,30-07-29-404-005.000-009,30-07-29-404-005.001-009

ASK ABOUT THIS PROPERTY

Damien YoderMarcus & MillichapMore Info
812-320-8483

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Damien YoderMarcus & MillichapMore Info
812-320-8483

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