Historical Retail Sale Listing - BUREAU OF MOTOR VEHICLES - Indianapolis, IN

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BUREAU OF MOTOR VEHICLES - Indianapolis, IN

10 S. Mickley Ave., Indianapolis, IN 46241

N/A

6,500 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
6,500 SF
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Additional Sub-types:
Post Office
Street Retail
Strip Center
Property Use Type:
Investment
Cap Rate:
7.50%
Occupancy:
100%
Tenancy:
Single
Year Built:
2006
Lot Size:
1.30 AC
Listing ID
15252892
Last Updated
over 1 year ago

Highlights

  • Long Term Leases
  • Stable Tenants
  • Signalized corner - 33,350 VPD & in front of Sam's Club
  • 1/4 mile from I-465

Description

10 Yr GROSS Lease leased to State of Indiana's Bureau of Motor Vehicles (BMV). Indiana is S&P rated AA+; Outlook Stable. BMV occupies 5,500 SF.
Affordable Insurance occupies 1,000 SF and has a 5 yr NNN lease term.
Lease Commencement for BMV and Affordable Insurance was September 1, 2006. BMV has One (1)-10 yr renewal option. Insurance and BMV facilities are often located next to each other due to strict state laws regarding car insurance that drivers must adhere to, making a stable location for car insurance companies. Affordable Insurance is owned by InsureMax.

Subject property is located right off of Exit 13A (E Rockville Rd.) on I-
465 at the signalized SWC of Rockville Rd. (US 36) and Mickley Ave. Traffic
heading East on Rockville Rd. at Exit boasts a dense count of
33,350 VPD. Sam's Club is directly behind and shares access with
subject property. Rockville Rd. is the main retail corridor with area
tenants including Bob Evans, CVS, Family Dollar, Subway, Marsh
Supermarket, Comfort Inn & Suites and Sleep Inn.

The BMV site is also a Reinstatement Center, which is one out of
eight in the state. This site was personally chosen by the BMV after
a two-year search by the commissioner and expected to be a long
staying site.

Map of 10 S. Mickley Ave., Indianapolis, IN 46241 (Marion County)

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