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The Nest Schools 10216 N Michigan Rd 10,985 SF 100% Leased Retail Building Carmel, IN 46032 $6,143,000 ($559.22/SF) 7% Cap Rate
Investment Highlights
- Brand-new 15-year corporate lease featuring 2% annual rental increases
- Lease is guaranteed by tenant’s ultra-high net worth founder (contact Agent for more details)
- Extremely affluent parent demos – $247K average household incomes within a 1-mile radius of the subject property
- Three, 5-year options to extend the lease at increased rents
- Recent build-to-suit construction with new roof that has membrane (~13 years remaining) and shingles (lifetime) warranties in place
- Adjacent to West Carmel Marketplace – a 325,000+ SF center that ranks in the top 10% of shopping centers in Indiana in terms of annual visits per Plac
Executive Summary
A 15-year corporate Nest School lease featuring 2% annual rental increases and backed by an ultra-high net worth guarantor. The subject property is located next to West Carmel Marketplace – a 325,000+ SF center that ranks in the top 10% of shopping centers in Indiana in terms of annual visits per Placer.ai.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,985 SF
Building Class
B
Year Built
2023
Price
$6,143,000
Price Per SF
$559.22
Cap Rate
7%
NOI
$430,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.18
Lot Size
1.41 AC
Nearby Major Retailers
Property Taxes
| Parcel Number | 29-13-07-000-006.000-018 | Improvements Assessment | $0 |
| Land Assessment | $71,800 | Total Assessment | $71,800 |
Property Taxes
Parcel Number
29-13-07-000-006.000-018
Land Assessment
$71,800
Improvements Assessment
$0
Total Assessment
$71,800
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The Nest Schools | 10216 N Michigan Rd
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