Emerson Square
7,850 SF | 100% Leased | Retail Building | Indianapolis, IN 46218 | $1,045,000 ($133/SF) | 8.51% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,045,000
- Property Type
-
Retail
- Square Feet
- 7,850 SF
- Price / Square Foot
- $133
Listing Contacts
Jordan Klink
Verified Profile
David Klink
Verified Profile
- Property Info
Property Overview
The Klink Group of Marcus & Millichap is pleased to present for sale Emerson Square, a 7,580-square foot neighborhood retail shopping center in an infill location within Indianapolis.
Emerson Square sits along East 38th Street which is a dense east and west thoroughfare of Indianapolis. The property also sits along the new IndyGo bus line that is nearing completion and will total $188 million dollars of infrastructure improvement to this busy retail artery. There is a newly constructed bus platform immediately in front of the property giving access to residents and customers that will utilize this new transit infrastructure.
Emerson Square is currently 100% occupied by a synergistic mix of internet resistant tenants: hair salons/barbershop, smoke shop & a food shop. The current tenants all operate under net leases; reimbursing for their pro-rata share of operating expenses, significantly minimizing landlord expense exposure. The Property is located just north of downtown Elkhart and caters to the +/-90,000 residents within a 3-mile radius.
The offering is the perfect investment opportunity for any incoming investor looking for infill real estate within a major metro location with strong intrinsic real estate fundamentals of $133 PSF and rents averaging less than $12PSF.
Emerson Square sits along East 38th Street which is a dense east and west thoroughfare of Indianapolis. The property also sits along the new IndyGo bus line that is nearing completion and will total $188 million dollars of infrastructure improvement to this busy retail artery. There is a newly constructed bus platform immediately in front of the property giving access to residents and customers that will utilize this new transit infrastructure.
Emerson Square is currently 100% occupied by a synergistic mix of internet resistant tenants: hair salons/barbershop, smoke shop & a food shop. The current tenants all operate under net leases; reimbursing for their pro-rata share of operating expenses, significantly minimizing landlord expense exposure. The Property is located just north of downtown Elkhart and caters to the +/-90,000 residents within a 3-mile radius.
The offering is the perfect investment opportunity for any incoming investor looking for infill real estate within a major metro location with strong intrinsic real estate fundamentals of $133 PSF and rents averaging less than $12PSF.
Property Details
- Class
- C
- Year Built
- 1967
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 33,106 SF
Highlights
- Attractive Fundamentals at $133 PSF and Rents Averaging Less Than $12 PSF
- Minimal Landlord Responsibilities with Net Lease Structure-Tenants Reimburse Pro-Rata Share of Common Area Maintenance, Taxes, Insurance and Mgmt.
- Infill Location with Captive Customer Base Along a Major Thoroughfare in Indianapolis
- Located in Dense Retail Trade Area, Nearby Retailers Include Dollar general, CVS, Fresh Market, Goodwill, Walgreens and More
- Sustainable Rents with Rent Per Square Foot Averaging Less Than $12
- Emerson Square Offers a Synergistic, E-Commerce Resistant Tenant Base: Hair Salons/Barbershop, Smoke Shop & a Food Shop
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