5151 E 82nd St - Storefront FOR SALE


Indianapolis, IN 46250
$7,836,000 USD
949-724-5552
5151 E 82nd St, Indianapolis, IN for Sale
$7,836,000 USD
Storefront - FOR SALE
1/6
null | 7% Cap Rate

5151 E 82nd St
Indianapolis, IN 46250


HIGHLIGHTS

  • Brand New 12 Year Lease Extension
  • Rare Absolute NNN Corporate Lease – Zero Landlord Responsibilities
  • PetSmart Operates Over 1,660 Stores with 750+ in Store Vet Clinics - Largest Pet Specialty Chain in the U.S
  • Over 24 Year Operating History - Recent Lease Extension Demonstrating Strength of Location
  • Roof Replaced in 2017 by the Tenant / 26,290 SF Bldg. on 1.66 Acres
  • 7% Rental Increases Every 5 Years

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer to investors an excellent opportunity to purchase a true absolute NNN PetSmart in Castleton, IN. The tenant just extended their lease for a brand new 12-year term and has a 24-year operating history at this location. The roof was replaced in 2017 by the tenant. The property is strategically located between The Fashion Mall at Keystone anchored by Nordstrom and the Castleton Square Mall which is the largest mall (1.1 million SF) in the state. 82nd Street is a high traffic commercial throughfare for the wealthiest trade area in the state and boasts AADT over 86,300 at its intersection. The upscale surrounding trade area has a population of over 168,400 residents with an average household income exceeding $121,000. Nearby retailers include Trader Joes, Whole Foods, Chick-fil-A, REI, Fresh Thyme Market, HomeGoods, Floor & Decor, The Container Store, Lifetime Fitness, PGA Tour Superstore, and Nordstrom Rack. PetSmart, Rated B+ by Standard & Poor’s, had $9.7 billion in revenue in 2023. It is the largest pet specialty chain in the U.S., and operates over 1,660 stores with 750+ in-store vet clinics.

FOR SALE DETAILS

PRICE

$7,836,000 USD

PRICE/SF

$298 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

PetSmart

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

129

LAND DETAILS

LAND ACRES

1.66 AC

LAND SF

72,486 SF

ZONING

ZO01

APN/PARCEL ID

49-02-21-126-014.000-800

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

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Jereme SnyderColliersMore Info
949-724-5552

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