317-713-2348
4901-4915 N Pennsylvania St, Indianapolis, IN for Sale
Freestanding - FOR SALE
1/7
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4901-4915 N Pennsylvania St
Indianapolis, IN 46205
Meridian Kessler


HIGHLIGHTS

  • Positioned at the highly visible and accessible corner location with strong traffic flow and close proximity to key residential neighborhoods
  • 100% leased to five tenants, with current rents just over 13% below today’s market rates, offering significant upside potential for investors
  • Featuring a 5.87-year WALT, the center is home to a diverse array of tenants spanning the hospitality and retail service industries
  • The existing tenant base has been at the property for an average of nearly 15 years
  • The surrounding Meridian-Kessler area is one of the most affluent in the Indianapolis MSA, boasting a median household income of $135,759

OVERVIEW

This fully leased neighborhood retail center is ideally positioned near the vibrant Meridian-Kessler and Broad Ripple neighborhoods, offering both dynamic urban amenities and suburban charm. Situated on the corner of N Pennsylvania St and E 49th St, the center boasts excellent demographics with nearly 40,000 residents within a 3-mile radius and an average household income of $112,623. The area’s affluent population and strong economic foundation make this an attractive investment, with the potential to draw high-quality tenants and benefit from consistent demand in a desirable community. With over 5.8 years of WALT and a diverse, high-performing tenant roster, the Property provides stability and growth potential. In addition, current in-place rents are 13.22% below market, offering investors the opportunity to increase value during upcoming lease renewals and capitalize on long-term appreciation in the high-demand Meridian-Kessler/Broad Ripple trade area. The tenant mix, featuring a fitness studio, dry cleaner, hair salon, and popular restaurants, serves as a strong draw for a wide range of consumers, positioning the Property as a destination retail center.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

C-3

APN/PARCEL ID

49-06-12-229-030.000-801

ASK ABOUT THIS PROPERTY

Rachel PattenColliersMore Info
317-713-2348

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Rachel PattenColliersMore Info
317-713-2348

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