2710 W 16th St - Freestanding FOR SALE


Indianapolis, IN 46222
$1,558,000 USD
317-218-5316
2710 W 16th St, Indianapolis, IN for Sale
$1,558,000 USD
Freestanding - FOR SALE
1/4
null | 7.15% Cap Rate

2710 W 16th St
Indianapolis, IN 46222


HIGHLIGHTS

  • Located 1 Mile From Indianapolis Motor Speedway And 2 Miles From Downtown Indianapolis Along A Commuter Thoroughfare That Experiences +/-30,000 VPD
  • Excellent 1031 Exchange Opportunity And Minimal Landlord Responsibilities With A Management Company Currently In Place
  • Unique And Rare Opportunity To Acquire A Dollar General Market Located In A Dense Infill Metro Location
  • Limited Immediate Market Competition; This Dollar General Market Is The Only Grocery Store Offering Along W 16th Street
  • Top 30% Ranking – All DG Stores – State Of Indiana – Placer AI
  • +/-5 Years Remaining On Firm Term Lease With 2, 5-year Renewal With Substantial Rental Increases At Each Option Period

OVERVIEW

The Klink Group of Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a single-tenant, net-leased Dollar General Market investment located near downtown Indianapolis. The building was originally a build-to-suit for Walgreens in 1992 and sits on 0.76 acres of prime real estate along West 16th Street, which leads directly into downtown Indianapolis to the east and connects to Crawfordsville Road to the west; which leads directly to Interstate 465. The Property is centrally located between downtown Indianapolis and the Indianapolis Motor Speedway contributing to the 30,000+ average daily traffic counts that W 16th Street experiences. Dollar General Market has been operating at this site since 2010; recently exercised a renewal option early last year and currently has +/-5 years remaining on their firm term lease, which runs through March 2030 and offers two, five-year renewal options with substantial rental escalators. This is a rare and unique opportunity to acquire a single-tenant, net-leased Dollar General Market in a dense infill metro location close to downtown Indianapolis. Any incoming investor will benefit from the various underlying real estate fundamentals this opportunity offers; dense downtown Indianapolis location, income passivity through net-lease structure, investment-grade corporate tenant, a hedge against inflation with substantial rental escalators in option periods and land + building ownership significantly below replacement cost.

FOR SALE DETAILS

PRICE

$1,558,000 USD

PRICE/SF

$124 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

116

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

33,106 SF

ZONING

ZO01

APN/PARCEL ID

49-06-33-119-008.000-901

ASK ABOUT THIS PROPERTY

Jordan KlinkMarcus & MillichapMore Info
317-218-5316

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Jordan KlinkMarcus & MillichapMore Info
317-218-5316

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