This Retail Property is Off-Market.

2245 Shelby Street
Indianapolis, IN 46203 ·

10,600 SF · Retail For Sale

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Family Dollar/ Little Caesars

Price N/A Cap Rate 8.58%
Building Size 10,600 SF Occupancy 100%
Property Type Retail Tenancy Multiple
Property Sub-type Free Standing Bldg Lot Size 0.53 AC
Property Use Type Net Lease Investment with 10+ years left on lease
Listing ID: 15529289 Date Created: 01/23/2008 Last Updated: 01/20/2009

Description

This property was completed Summer 2007 for both Family Dollar and Little Caesar. The building is a brand new single story block structure occupying approximately 10,600 square feet on an approximate .53 acre (23,086 square foot) lot. There is excellent visibility from the street and ample parking in front of the stores.

The Interstate 65 on/off ramp is 1,000 feet away. Interstate 65 connects the Deep South with the mid-west completely spanning Indiana. I-65 begins in Gary Indiana to the north by Lake Michigan and travels south past the Indiana/Kentucky border, crossing the Ohio River into Louisville Kentucky. I-65 crosses through four states until it ends in the Port City of Mobile, Alabama.

New leases have just begun for both tenants:
Family Dollar: Ten (10) year net lease with rate increases of 10% every five (5) years. There are three (3) five (5) year options.
Little Caesar: Five (5) year net lease with rate increases of 10% every five (5) years. There are three (3) five (5) year options.
Landlord is responsible for roof & structure.

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This is an solid location in the city of Indianapolis which is the capital and the most populated city in the State of Indiana. Indianapolis is the 13th largest city in the nation and the 3rd largest in the Midwest. It is also the county seat for Marion County which has 862,500+ residents. There are over 220,000 people within 5 miles from this property with an average HH income of $44,307.

Surrounding the property are area generators; Family Video and CVS are adjacent to the property along with a new Tanning Salon. All of these buildings make up what is known as St Catherine Square. Just north of this center is the busy signalized intersection of Shelby Street & Raymond Street with a combined traffic count of over 70,000 vehicles per day. There is a White Castle on the Northeast corner and a Safeway on the Northwest Corner.

Research

2245 Shelby Street, Indianapolis, IN 46203 (Marion County)

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