3091 S US 421 - Retail FOR SALE


Zionsville, IN 46077
$11,500,000 USD
602-584-0717
3091 S US 421, Zionsville, IN for Sale
$11,500,000 USD
Retail - FOR SALE
1/32
null | 6.41% Cap Rate

3091 S US 421
Zionsville, IN 46077


HIGHLIGHTS

  • Appaloosa Crossing is a 23,073-SF shopping center delivered in 2023, now at full occupancy, exclusively listed by Bellagio Real Estate Partners, LLC.
  • Anchored by Verde, a multi-location concept with a full-service Mexican restaurant and bar, plus an enclosed patio.
  • Stabilized income stream via long-term leases with between seven to 12 years remaining and built-in rent escalations every year or every five years.
  • Classic Cleaners and Aspasia Coffee both feature drive-thrus for convenience, increased traffic, and future tenant appeal.
  • Invest in a booming submarket where total households grew by 16% from 2020 to 2024, with a projected 13% increase by 2029 within a 2-mile radius.
  • Supported by affluent communities, the average annual household income within approximately a five-minute drive is over $216,000.

OVERVIEW

Bellagio Real Estate Partners, LLC, is pleased to present Appaloosa Crossing, a six-tenant shopping center, located steps from the signalized intersection of Michigan Road (US 421) and E 300 S in Zionsville, Indiana. Built in 2023, the property comprises approximately 23,073 square feet of retail space on 3.38 acres in a well-established and affluent part of Zionsville. With Michigan Road frontage, the center offers strong visibility and access near major regional connectors, including Interstate 465 and State Road 32. Appaloosa Crossing’s sophisticated design incorporates stone masonry, residential-style eaves, timber beams, and contrasted white-and-black trim, asserting an unmistakable presence. Appaloosa Crossing is 100% leased to a mix of regional and local service-oriented tenants with diversified uses and space features. Current tenants include Classic Cleaners and Aspasia Coffee & Bake Shop, both of which have drive-thru service. These join Haven Dental Studio, providing in-place medical infrastructure, Uncle Bill’s Pet Center, and Verde, a popular Mexican restaurant featuring a full-service commercial kitchen and a closed-in patio dining area. The tenant mix comprises daily needs and service-oriented operators, creating durable in-person demand that is highly resistant to e-commerce disruption. The center’s modern construction, ample parking, and two drive-thrus create flexibility and long-term tenant appeal. Existing leases range from seven to 12 years in the remaining term, with scheduled rent escalations providing built-in income growth. Located in one of Indiana’s most affluent communities, Appaloosa Crossing is surrounded by population growth and exciting new commercial and corporate developments. The center has already established itself as a go-to destination for current locals and is well-positioned to benefit further as nearby density increases. With 20,000 vehicles passing by per day on average, as growth continues to rocket, the outlook of this community staple is extremely positive.

FOR SALE DETAILS

PRICE

$11,500,000 USD

PRICE/SF

$498 USD /SF

CAP RATE

6.41%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Appaloosa Crossing Shopping Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

104

LAND DETAILS

LAND ACRES

3.38 AC

LAND SF

147,233 SF

ZONING

C-2

APN/PARCEL ID

06-08-23-000-002.014-029

ASK ABOUT THIS PROPERTY

Brad TeitelbaumBellagio Real Estate Partners LLCMore Info
602-584-0717

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Brad TeitelbaumBellagio Real Estate Partners LLCMore Info
602-584-0717

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.