10540 Pendleton Pike - Freestanding FOR SALE


Indianapolis, IN 46236- Lawrence
$1,580,000 USD
10540 Pendleton Pike, Indianapolis, IN for Sale
$1,580,000 USD
Freestanding - FOR SALE
1/6
null | 6.65% Cap Rate

10540 Pendleton Pike
Indianapolis, IN 46236
Lawrence


HIGHLIGHTS

  • RECENT EARLY EXTENSION: recently executed an early 10-year extension, carrying the term through April 2035
  • LONG-TERM OPERATING HISTORY Advance Auto has been operating at this location for over 20 years, underscoring its commitment to the site
  • CORPORATE LEASE Advance Auto Parts, Inc. (NYSE: AAP) is a leading automotive aftermarket parts provider.
  • MINIMAL LL RESPONSIBILITIES Advance Auto Parts is responsible for taxes, insurance, parking lot, roof &HVAC. Landlord is responsible for struture.
  • STRONG RESIDUAL FUNDAMENTALS & UNMATCHED ACCESS prime location with direct access via a dedicated left-turn lane on Pendleton Pike to Thunderbird Road
  • BUILT-IN CUSTOMER BASE There are over 25,500 households within a three-mile radius of the property

OVERVIEW

CBRE’s Net Lease Property Group—Midwest is pleased to present to qualified individuals the opportunity to acquire 100% fee interest in a freestanding Advance Auto Parts located in Indianapolis, IN. Advance Auto Parts has a 20-year operating history at this location and recently executed an early 10-year extension, carrying the term through April 2035, further demonstrating its commitment to the site. The lease features a strong 6.67% rental increase in May 2030 and three, 5-year renewal options with healthy rental increases in each option. Advance Auto enjoys a prime location with direct access via a dedicated left-turn lane on Pendleton Pike (35,500 VPD) to Thunderbird Road, offering outstanding visibility and accessibility for customers. Its strategic positioning enhances its long-term viability, with strong redevelopment potential to accommodate a variety of uses. There are over 25,500 households within a three-mile radius of the property, providing a direct residential consumer base. More than 184,867 residents support the trade area, earning an average household income of over $94,474. Advance Auto Parts is a leading retailer of automotive aftermarket parts, accessories, and maintenance products. It operates both physical stores and an e-commerce platform. In 2023, the company generated approximately $11.3 billion in revenue. The company serves both professional installers and do-it-yourself customers, with a strong presence in North America.

FOR SALE DETAILS

PRICE

$1,580,000 USD

PRICE/SF

$233 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.21 AC

LAND SF

52,664 SF

ZONING

I3S

APN/PARCEL ID

49-08-04-128-013.000-407

ASK ABOUT THIS PROPERTY

Michael KaiderCBRE, Inc.More Info

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Michael KaiderCBRE, Inc.More Info

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