This property is Off-Market

10 S. Mickley Ave.
Indianapolis, IN 46241 ·

6,500 SF · Retail For Sale

N/A

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BUREAU OF MOTOR VEHICLES - Indianapolis, IN

Price N/A Cap Rate 7.50%
Building Size 6,500 SF Occupancy 100%
Property Type Retail Tenancy Single
Property Sub-type
Free Standing Bldg
More...
  • Post Office
  • Street Retail
  • Strip Center
Year Built 2006
Property Use Type Investment Lot Size 1.30 AC
Listing ID: 15252892 Date Created: 07/23/2007 Last Updated: 01/07/2008

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.

Highlights

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

Research

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

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