$6,300,000 USD
404-231-4696
3919 Madison Ave
Indianapolis, IN 46227
North Perry
HIGHLIGHTS
- Two-tenant retail center 100% occupied by Hope Academy and Indiana BMV with ±7 years average lease term.
- Absolute passive investment with $560,221 NOI and 8.5% cap rate at $6,600,000 price.
- Hope Academy lease features annual rent escalations, driving intrinsic NOI growth.
- Prime signalized corner location at E Hanna Ave & Madison Ave with 36,325 VPD.
- Adjacent to University of Indianapolis main campus with 5,500+ students.
- Modern construction, minimal near-term CapEx, and strong trade area demographics.
FOR SALE DETAILS
PRICE
$6,300,000 USD
PRICE/SF
$171 USD /SF
CAP RATE
8.5%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
University Shoppes
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Storefront
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1990
SPRINKLERS
-
PARKING SPACES
175
LAND DETAILS
LAND ACRES
7.79 AC
LAND SF
339,332 SF
ZONING
Commercial
APN/PARCEL ID
49-11-25-107-013.000-501
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404-231-4696
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404-231-4696
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