Avis Anchored Auto Assemblage 82nd St Retail FOR SALE


Indianapolis, IN - Castleton
$1,603,000 USD
317-750-2034
, Indianapolis, IN for Sale
$1,603,000 USD
Retail - FOR SALE
1/12
null | 8.5% Cap Rate

Avis Anchored Auto Assemblage 82nd St
Indianapolis, IN
Castleton


HIGHLIGHTS

  • Avis Anchored Three-Building Auto Assemblage | Long-Operating History
  • Tons of Tires Executed an Early Five-Year Renewal with 5 Percent Annual Rent Increases
  • Avis and Vivid Automotive Recently Executed Lease Extensions, both Featuring 3 Percent Annual Rent Escalations
  • Avis has been Operating at this Location Since 1986 | Co-branded Location Operated by Avis Rent a Car and Budget Rent a Car | Roof was Replaced May'26
  • Situated just off the Interchange of Interstates 465 and 69 | Frontage Along E 82nd Street, which Sees 49,029 Vehicles per Day
  • Directly in Front of an Indianapolis Castleton Office Park

OVERVIEW

This Avis anchored three building auto assemblage is 100 percent occupied by a complementary mix of automotive tenants. Avis has operated at the site since 1986, demonstrating long term commitment. Both Avis and Vivid Automotive feature 3 percent annual rental increases. Tons of Tires executed an early five-year renewal with 5 percent annual rent increases. The property is strategically located just off the interchange of Interstates 465 and 69, which together sees approximately 289,600 vehicles per day, and has frontage along East 82nd Street with over 49,000 vehicles per day. The asset sits within a dominant retail corridor near Castleton Square Mall, ranked in the top 4 percent of U.S. shopping centers by visits, and is surrounded by national retailers. The site also benefits from proximity to key community anchors, including Community Hospital North and Lawrence North High School, within an affluent and dense trade area featuring over 114,000 employees within three miles and average household income near $120,000.

ASK ABOUT THIS PROPERTY

Phoebe KleinSharko | Weisenbeck | Mendoza GroupMore Info
317-750-2034

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Phoebe KleinSharko | Weisenbeck | Mendoza GroupMore Info
317-750-2034

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