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.