1298 N Madison Ave - Auto Repair FOR SALE


Greenwood, IN 46142
$2,547,000 USD
310-691-1350
1298 N Madison Ave, Greenwood, IN for Sale
$2,547,000 USD
Auto Repair - FOR SALE
1/6
null | 6% Cap Rate

1298 N Madison Ave
Greenwood, IN 46142


HIGHLIGHTS

  • 37-Year Established Tire Service Center Location
  • A+ Signalized Real Estate in front of Greenwood Park Mall
  • Extremely Rare 3% Annual Rent Increases
  • Triple Net (NNN) Lease Structure
  • eCommerce-Resistant, Site-Reliant Tenant

OVERVIEW

Pegasus Investments Real Estate Advisory Inc. and ParaSell, Inc. , as exclusive investment sales advisors to seller, are pleased to present the opportunity to acquire the fee simple (land & building) interest in a Big O Tires facility located in Indianapolis (Greenwood), Indiana (the “Property”). The Property features a long-term triple net (NNN) lease to Steve Towers Enterprise (“Tenant”) a seasoned Big O Tire franchisee with nine (9) Big O Tires locations. The high-performing Tenant, which recently acquired the site (formerly a Goodyear Tire) at the end of its lease term, expects to continue to achieve above-average store sales at this location. The Tenant has aggressive plans to acquire existing Big O Tires locations throughout Indiana (20 locations) and Kentucky (24 locations). The lease features rare 3% annual rent increases throughout the base term and the option terms. The Property boasts an established, 37+ year occupancy as a tire facility within Greenwood in addition to an excellent location at the hard-corner signalized intersection of Madison Ave and County Line Rd, both significant arterial traffic carriers. Located as an outparcel to Greenwood Park Mall, the Property has unbeatable access and visibility to one of the largest shopping corridors in the Indianapolis metro, with nearby occupancy by major national names such as Costco, Walmart, and Lowe’s. Rounding out the stellar occupancy within the corridor are multiple traffic and employment drivers which include Franciscan Health and Community Hospital South, both significant regional hospitals.

FOR SALE DETAILS

PRICE

$2,547,000 USD

PRICE/SF

$286 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

STNL NNN Big O Tires

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

-

APN/PARCEL ID

41-02-29-022-002.000-026

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.