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Investment For Sale
Single-Tenant NNN Lease Retail Portfolio
8580 N. Michigan Rd., Indianapolis, IN 46268
Details
- Category Investment
- Type For Sale
- Sale Price $2,323,200.00
- CAP Rate 6.25%
- Available Space ±2,000 SF
- Lot Size ±0.51 Acres
- Year Built 1986
Description
LEASE DETAILS
- Lease End Date: 9/31/2032
- Options: 2 x 5 Years
- Increases: 10% Every 5 Years
- Next Increase: 10% October 2027
- Current Annual Base Rent: $145,200
- Base Rent per SF: $72.60
- Car Counts:
- Michigan Rd: 27,600 CPD
- W. 86th St: 36,400 CPD
Part of a larger portfolio of five A+ locations across the western and midwestern
United States:
- 223 Lusher Ct. | Unit 1 | Frisco, Colorado 80433
- 223 Lusher Ct. | Units 2 & 3 | Frisco, Colorado 80433
- 5836 SW 21st St. | Topeka, Kansas 66604
- 8580 N. Michigan Rd. | Indianapolis, Indiana 46268
- 4805 N. Leavitt Rd. | Lorain, Ohio 44053
Total Space: ±35,094 SF
Sale Price: $16,320,145
CAP Rate: 7.0%
In-Place Net Operating Income: $1,144,439
- 100% leased
- Three national-credit tenants with 10+ years of operation history
Documents
Listing Advisors
Office
Todd Strickland
- Direct505.998.5735
- Office505.878.0001
- Mobile505.450.1121
- Emailtodd@sunvista.com
Office
Rob Bridges, CCIM
- Direct505.878.0005
- Office505.878.0001
- Mobile505.977.5094
- Emailrob@sunvista.com
