253 W Tournament Trl - Retail FOR SALE


Westfield, IN 46074
$6,225,000 USD
949-903-3399
253 W Tournament Trl, Westfield, IN for Sale
$6,225,000 USD
Retail - FOR SALE
1/5
null | 6.35% Cap Rate

253 W Tournament Trl
Westfield, IN 46074


HIGHLIGHTS

  • Brand New 2-Tenant Center - Long Term Leases (15/10) by BMO Bank/Heartland Dental
  • High Profile Visibility along Main Retail Artery - Shadow Anchored by Meijer Supermarket
  • Affluent Suburb of Indianapolis ($165,293 HHI) - One of Fastest Growing MSA’s in Country
  • 2024 Prototype Build with 3 Drivethru Lanes - High End Construction - Roof Warranty
  • Strong Lease Guarantees - #11 Ranked Bank in U.S. (NYSE: BMO) - Market CAP $74B+
  • Heartland Dental (Grand Maple Dental Care) is Nation’s Largest Dental Support Org. (1800+)

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer to investors an opportunity to acquire a new construction two-tenant retail asset in Westfield, IN (Indianapolis MSA). Heartland Dental supports over 2,800 dentists in more than 1,800 offices across 38 states while BMO Harris Bank has over 1,000 locations and has an investment grade credit rating from S&P of A+ (Moody’s: A3). Both tenants are subject to long term net leases with limited landlord responsibilities. BMO Bank has over 14.5 years remaining in the primary term and Heartland Dental (DBA: Grand Maple Dental Care) has over 9.7 lease years remaining. Both leases comprise 10% rent increases every 5 years and four 5-year option periods making this asset ideal for an investor seeking inflation resistant cash flows with minimal responsibilities. The 7,990 SF building on 2.05-acre parcel is strategically located on the hard corners of W 176th Street (17,600 VPD), Gravel Street and W Tournament Trail and is positioned in new development retail corridor of Westfield. Nearby retailers Include McDonald’s, Chick-fil-A, Starbucks, Dunkin’, Tractor Supply Co., Meijer, Goodwill and CVS.

FOR SALE DETAILS

PRICE

$6,225,000 USD

PRICE/SF

$779 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

BMO Bank - Heartland Dental

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

72

LAND DETAILS

LAND ACRES

18.04 AC

LAND SF

785,873 SF

ZONING

-

APN/PARCEL ID

29-05-35-000-030.000-015

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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

Eric CarltonColliersMore Info
949-903-3399

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