818-823-0832
8241 US 31 S, Indianapolis, IN for Sale
Freestanding - FOR SALE
1/5
null | Request Cap Rate

8241 US 31 S
Indianapolis, IN 46227
South Perry


HIGHLIGHTS

  • AUGUST 3RD–5TH AUCTION | CORPORATE T-MOBILE – STRONG IN-PLACE CASH FLOW | UNPRICED
  • DOUBLE-NET (NN) LEASE WITH MINIMAL MANAGEMENT - 1.5 Yrs Cash Flow $115,465/yr
  • HIGH-TRAFFIC INDIANAPOLIS RETAIL CORRIDOR US Highway 31 South – Over 37,000 Vehicles Per Day
  • STRONG DEMOGRAPHICS Population: 209,000+ Within 5 Miles Average Household Income: $98,063
  • Surrounded by National Tenants Including Target, Walmart, Home Depot, Lowe’s, Kohl’s, Dick’s Sporting Goods, TJ Maxx, Marshalls, Ross, JCPenney, & Mor
  • Positioned Between Two Dominant Retail Nodes Generating Over 31 Million Annual Visits (1.5-Mile Radius)

OVERVIEW

The Ovaness-Rostamian Group of Marcus & Millichap is pleased to present this corporate-leased T-Mobile asset, being offered unpriced through an auction process scheduled for August 3rd through August 5th. The property offers investors durable in-place cash flow with current annual rent of $115,465 and a scheduled 5% rent increase in September 2027. The lease structure is double-net, providing for a passive ownership profile with limited landlord responsibilities. The tenant, T-Mobile USA, Inc., recently extended the lease for one additional year and retains a single One-year option, signaling continued operational commitment while simultaneously creating a compelling near-term repositioning or mark-to-market opportunity for a future owner. Strategically located along US Highway 31 South, the property benefits from excellent visibility and access, with traffic counts exceeding 37,000 vehicles per day. The site sits within a highly active retail corridor anchored by top national brands and supported by over 31 million annual visits within a 1.5-mile radius. Immediate proximity to major automotive dealerships further reinforces consistent daily traffic to the area. Originally a Sprint location, the property was fully renovated in 2022 at the tenant’s expense following the T-Mobile/Sprint merger, demonstrating continued investment in the site. Additionally, recent capital improvements, including HVAC upgrades, further enhance the asset’s condition. This offering combines strong corporate credit, proven site performance, and a dense infill retail location, making it well-suited for investors seeking stable income today with embedded upside through the upcoming lease rollover.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

T-Mobile Corp Freestanding - Auction Aug 3rd

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

0.67 AC

LAND SF

29,098 SF

ZONING

6000

APN/PARCEL ID

49-15-19-113-003.000-500

ASK ABOUT THIS PROPERTY

Ara RostamianMarcus & MillichapMore Info
818-823-0832

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Ara RostamianMarcus & MillichapMore Info
818-823-0832

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