4540-4590 N Shadeland Ave - Storefront FOR SALE


Indianapolis, IN 46226- Devington
$3,260,000 USD
317-218-5316
4540-4590 N Shadeland Ave, Indianapolis, IN for Sale
$3,260,000 USD
Storefront - FOR SALE
1/5
null | 9.03% Cap Rate

4540-4590 N Shadeland Ave
Indianapolis, IN 46226
Devington


HIGHLIGHTS

  • Anchored by Family Dollar- They Occupy Approximately 22.05% of the Total GLA
  • Attractive NNN Leases-Majority of the Tenants Reimburse for Combination of CAM, Taxes, Insurance, CAM Admin and Management Fee Expenses
  • Multiple Points of Ingress/Egress off East 46th Street and Shadeland Avenue, which Experiences +/-45,000 VPD
  • Sustainable Rents – Rent Per Square Foot Averaging Less Than $8
  • Value-Add Upside – Developable Outparcel
  • Shadeland Corner Offers a Synergistic, E-Commerce Resistant Tenant Base: Child Care, Hair & Eyebrow Salons, Family Dollar, Centra-Credit Unio

OVERVIEW

The Klink Group of Marcus & Millichap is pleased to present for sale Shadeland Corner, a fully-occupied, 45,000-square foot neighborhood shopping center anchored by Family Dollar located in a dense residential area of Indianapolis. Built in 1961 and renovated in 2005, Shadeland Corner sits on 5.30 acres along E 46th Street and N Shadeland Avenue, which experiences approximately 45,000 vehicles-per-day. The Property is located just north of downtown Indianapolis and caters to the +/-42,000 residents within a 2-mile radius of the property. Shadeland Corner is currently 100% occupied by a synergistic mix of tenants that service a number needs including a mix of restaurants, financial services, consumer goods, childcare, personal beauty. The majority of the current tenants operate under triple-net leases; reimbursing for their pro-rata share of operating expenses, significantly minimizing landlord expense exposure. Significant value-add upside potential in included developable outparcel. The offering is a strong investment opportunity for an incoming investor looking for high intrinsic real estate value at an attractive price per square foot in a major Midwest metro location with dense surrounding demographics.

FOR SALE DETAILS

PRICE

$3,260,000 USD

PRICE/SF

$72 USD /SF

CAP RATE

9.03%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shadeland Corner

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1961

SPRINKLERS

-

PARKING SPACES

197

LAND DETAILS

LAND ACRES

5.3 AC

LAND SF

230,868 SF

ZONING

C4

APN/PARCEL ID

49-07-14-122-002.000-401

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.