940 N Meridian St - Bank FOR SALE


Indianapolis, IN 46204
$3,660,000 USD
317-726-7305
940 N Meridian St, Indianapolis, IN for Sale
$3,660,000 USD
Bank - FOR SALE
1/7
null | Request Cap Rate

940 N Meridian St
Indianapolis, IN 46204


HIGHLIGHTS

  • PRIME LOCATION IN DOWNTOWN INDIANAPOLIS
  • INFLATION-PROOF NNN LEASES AND STABLE CASH FLOW
  • MARKET DYNAMICS AND RENTAL GROWTH POTENTIAL
  • FUTURE VALUE-ADD LEASING + OUTLOT DEVELOPMENT
  • THRIVING ECONOMY AND GROWING CORPORATE PRESENCE

OVERVIEW

The KeyBank building, located at 930 North Meridian, with on-site parking, is a two-story, 14,038 square foot building in excellent condition which is 81% occupied by KeyBank and MSKTD & Associates on NNN leases with the remaining 19% of the 1st floor retail space available for lease. The building was originally built in 1980 with extensive renovations in 1996 and 2018. KeyBank recently renewed its lease for an additional five years through 2/25/2030 and the MSKTD lease is pending renewal through 6/30/2031. The building offers significant upside potential in the lease up of attractive first floor space which has historically been used for storage. This highly desirable property has a rare two-lane drive-through in the CBD and offers an opportunity to add an additional drive-through on the outparcel.

FOR SALE DETAILS

PRICE

$3,660,000 USD

PRICE/SF

$295 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NNN Leased Bank Branch & 0.50+/- Parcel

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

57

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

CBD-1

APN/PARCEL ID

49-11-01-175-005.000-101

ASK ABOUT THIS PROPERTY

Rebecca WellsCushman & WakefieldMore Info
317-726-7305

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Rebecca WellsCushman & WakefieldMore Info
317-726-7305

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