1063 Virginia Ave, Indianapolis, IN 46203
5 Retail Properties in Indianapolis, IN
For Sale
Active
- Property Type
-
Retail
- Square Feet
- 31,064 SF
Listing Contacts
Alex Davenport
Rachel Patten
Property Overview
The Fountain Square Retail Portfolio consists of 29,619 square feet across five buildings located on Prospect Street and Virginia Avenue in the heart of the historic Fountain Square entertainment district in Indianapolis. The Portfolio also includes three existing parking lots totaling 0.54 acres. The Portfolio is 100% leased to five tenants: Upland Brewing, Turchetti’s Salumeria, White Rabbit Cabaret, Paradox Enterprises, and El Arado Mexican Grill with a WALT of 3.15 years. This offering provides an investor the opportunity to acquire an extremely rare group of infill retail assets with stable in-place cash flow and near-term value-add potential as leases roll to market. In-place rents stand over 30% below today’s market rents providing an investor the opportunity to add value to the existing cash flow. The Portfolio is located along Prospect St and Virginia Ave, the main streets of the Fountain Square neighborhood which is directly southeast of Downtown Indianapolis. Prospect St & Virginia Ave boast daily traffic counts of over 10,000 cars daily with a 3-mile population of 108,816 people and an average household income of over $66,000. The Portfolio tenant-base is a diverse, service-oriented roster serving a wide-range of consumers in the Downtown Indianapolis area.
Highlights
- Opportunity to acquire stabilized portfolio with upside
- Extremely rare grouping of historic retail assets in the heart of Fountain Square
- Supply constrained, historic neighborhood experiencing tremendous population growth near Downtown Indianapolis
- Diverse, destination based tenant roster
All available spaces
- Space
- Size
- 1,250 SF
- Space Subtype
- Retail
- Space
- Size
- 12,986 SF
- Space Subtype
- Retail
- Space
- Size
- 6,432 SF
- Space Subtype
- Retail
- Space
- Size
- 5,600 SF
- Space Subtype
- Retail
- Space
- Size
- 4,796 SF
- Space Subtype
- Retail
Nearby Properties
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