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6520 E 82nd Street - Einstein Building, Indianapolis, IN

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6520 E 82nd Street - Einstein Building

Indianapolis, IN 46250-3600 - Castleton Submarket


Property Type:Office Sub Type:- Status:Existing Year Built:1976
Stories:2 Typical Floor:7,000 SF Building Size:15,160 SF
For Sale Price:For Sale Price/SF:-
Cap Rate:-
Parking:75 Surface spaces are available; Ratio of 5.35/1,000 SF Amenities:Banking, Restaurant



Sale Notes:
Property Tour and Contact Detail Information:
Property tours are available by appointment on the below dates/times. Please schedule with the listing broker, Joe Chichester at 949-221-1813 or by email at jchichester@farislee.com.

Investment Highlights:
• Strong national/corporate tenants: Hertz Global Holdings, Inc. (S&P Rated “B+”) & Einstein Bros. Bagels
• Long-Term historical occupancy/stabilized investment opportunity
• Oversized large parcel/ 5.87 per 1,000 SF of leasable area
• High quality construction- French architectural design/recent improvements
• Strong demographic trade area
• Signalized intersection/ 51,000 vehicles per day along E. 82nd Street
• Near Castleton Square Mall/ largest mall in state of Indiana
• Parking Stalls: approximately 89 dedicated parking stalls on the owned parcel
• Zoning: C-3: Neighborhood Commercial District

Investment Overview:
The fee simple interest (land & building) in 82nd Street Shops (the “Property”) is a 15,160-square foot strip center, located in the midst of a vibrant retail and commercial district on Indianapolis’ north side, known locally as Castleton, one of the most highly-sought after commercial areas. The Property has remained near full occupancy for over 20 years, featuring strong national retail tenants including Einstein Bros. Bagels (lease start 1996) and Hertz (lease start 2002), highlighting the strength and demand for the market. The Property additionally features a very unique, 18 individual suite, salon rental area better known as Salons of Castleton, which allows independent stylist the ability to lease space and conduct their business. The Salons of Castleton have become one of the most sought after locations for stylist/barbers due to the abundance of traffic and availability of shopping and restaurants in the Castleton market.

Location Summary
The Property is ideally positioned along Castleton’s most travelled street, E. 82nd Street (51,000 vehicles per day), and is just two (2) blocks from the state’s largest mall (Castleton Square Mall), which creates significant crossover traffic to the 82nd street strip center, and includes strong national retailers such as, AMC Theatres, Dick’s Sporting Goods, JCPenney, H&M, M.A.C, and Von Maur. The E. 82nd area is the regional shopping, business and medical area with strong stability for years to come, as recently seen by the expansion of the Community Hospital facility a few blocks away, which has more than 4,500 employees. Additionally, there are more than 167,000 permanent residents and 120,000 day time employees featuring an average household income in excess of $88,000 within a 5-mile radius of the Property.

Faris Lee Investments
Joe Chichester
(949) 221-1813

  
Ten-X, LLC
Ten-X Commercial
(800) 793-6107




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