10679 Michigan Rd, Zionsville, IN 46077

65,182 SF | Retail Building | Zionsville, IN 46077 | $18,609,000 ($285/SF) | 5.75% Cap Rate

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
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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