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
1/10
null | 6.41% Cap Rate

3091 S US 421
Zionsville, IN 46077


HIGHLIGHTS

  • Anchored by Verde, multi-location concept with a full-service Mexican restaurant and bar with enclosed patio.
  • Located steps from the signalized intersection of Michigan Road (US- 421) and E 300 S (146th st) in Zionsville’s growing retail corridor.
  • Classic Cleaners and Aspasia Coffee both feature drive-thru lanes for convenience and increased traffic.
  • Long-term leases with between 7 to 12 years remaining with built-in rent escalations every year or every 5 years.
  • Strong demographics with average household incomes over $218,906 within a 1-mile radius.
  • High visibility with approximately 20,000 vehicles per day at the corner of Michigan Road and E 300 S.

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. The property consists of approximately 23,073 square feet of retail and situated on 3.38 acres in a well-established and affluent part of Zionsville. With frontage along Michigan Road, the center offers strong visibility and access near major regional connectors including Interstate 465 and State Road 32. The property is currently 100% leased to a mix of regional and local service oriented tenants. Current tenants include Classic Cleaners and Aspasia Coffee & Bake Shop—both featuring drive-thru service—Haven Dental Studio, Uncle Bill’s Pet Center, and Verde, a popular full-service Mexican restaurant featuring a closed-in patio dining area. The tenant mix is comprised entirely of daily needs and service-oriented operators, creating durable in-person demand that is highly resistant to e-commerce disruption. The center offers modern construction, ample parking, and two drive-thrus that create flexibility and long-term tenant appeal. Existing leases range from 7 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.

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

3.39 AC

LAND SF

147,841 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

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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.