5050 E 38th St - Freestanding FOR SALE


Indianapolis, IN 46218
$999,999 USD
317-218-5316
5050 E 38th St, Indianapolis, IN for Sale
$999,999 USD
Freestanding - FOR SALE
1/3
null | 8.9% Cap Rate

5050 E 38th St
Indianapolis, IN 46218


HIGHLIGHTS

  • Attractive Fundamentals at $127 PSF and Rents Averaging Less Than $12 PSF & New Roof in 2023
  • Minimal Landlord Responsibilities with Net Lease Structure-Tenants Reimburse Pro-Rata Share of Common Area Maintenance, Taxes, Insurance and Mgmt.
  • Infill Location with Captive Customer Base Along a Major Thoroughfare in Indianapolis
  • Located in Dense Retail Trade Area, Nearby Retailers Include Dollar general, CVS, Fresh Market, Goodwill, Walgreens and More
  • Sustainable Rents with Rent Per Square Foot Averaging Less Than $12
  • Emerson Square Offers a Synergistic, E-Commerce Resistant Tenant Base: Hair Salons/Barbershop, Smoke Shop & a Food Shop

OVERVIEW

The Klink Group of Marcus & Millichap is pleased to present for sale Emerson Square, a 7,580-square foot neighborhood retail shopping center in an infill location within Indianapolis. Emerson Square sits along East 38th Street which is a dense east and west thoroughfare of Indianapolis. The property also sits along the new IndyGo bus line that is nearing completion and will total $188 million dollars of infrastructure improvement to this busy retail artery. There is a newly constructed bus platform immediately in front of the property giving access to residents and customers that will utilize this new transit infrastructure. Emerson Square is currently 100% occupied by a synergistic mix of internet resistant tenants: hair salons/barbershop, smoke shop & a food shop. The current tenants all operate under net leases; reimbursing for their pro-rata share of operating expenses, significantly minimizing landlord expense exposure. The landlord recently invested money into improving the property by replacing the roof in 2023. The Property is located just north of downtown Elkhart and caters to the +/-90,000 residents within a 3-mile radius. The offering is the perfect investment opportunity for any incoming investor looking for infill real estate within a major metro location with strong intrinsic real estate fundamentals of $127 PSF and rents averaging less than $12PSF.

FOR SALE DETAILS

PRICE

$999,999 USD

PRICE/SF

$127 USD /SF

CAP RATE

8.9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Emerson Square

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

33,215 SF

ZONING

C

APN/PARCEL ID

49-07-16-123-001.000-101,49-07-16-123-020.000-801

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.