10679 Michigan Rd, Zionsville, IN 46077
65,182 SF | Retail Building | Zionsville, IN 46077 | $18,609,000 ($285/SF) | 5.75% Cap Rate
For Sale
Active
8 pictures
- Date Added:
- September 16, 2024
- Days on Market:
- 17 days
Asking Price $18,609,000
- Property Type
-
Retail
- Square Feet
- 65,182 SF
- Price / Square Foot
- $285
Listing Contacts
Ryan Tomkins
- Property Info
Property Overview
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade, freestanding, Kroger investment property located in Zionsville, IN (Indianapolis MSA). Kroger has an additional 13 years remaining on lease, demonstrating their commitment to the site. The lease features 7% rental increases every 5 years throughout the initial term, growing NOI and hedging against inflation. The lease is absolute NNN, making it an ideal, management-free investment opportunity for a passive investor.
Property Details
- Class
- B
- Year Built
- 1999
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 418,612 SF
Highlights
- 13 years remaining on lease with 5 (5-year) option periods to extend
- Located along North Michigan Road (51,000 VPD)
- Extremely affluent demographics with AHHI of $198k within 1 mile radius
- 5% rental increases every 5 years throughout the initial term and options
- 30 minutes from Downtown Indianapolis, the United States’ 16th largest city
- Surrounding tenants including ALDI, The Home Depot, Marshalls, Best Buy, Petco, Kohl’s, Costco Wholesale, and others
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