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The Nest Schools 17313 Spring Mill Rd 11,275 SF 100% Leased Retail Building Westfield, IN 46074 $6,357,000 ($563.81/SF) 7% Cap Rate
Investment Highlights
- Brand-new 15-year lease featuring 2% annual rental increases
- Lease is guaranteed by tenant’s ultra-high net worth founder (contact Agent for more details)
- Very strong guarantor – Nine-figure net worth
- Three, 5-year options to extend the lease at increased rents
- Brand-new building delivered in 2023 with new roof that has 15-year warranty in place
- Adjacent to heavily trafficked Meijer location – ranked in the top 2% of grocery stores nationwide in terms of annual visits per Placer.ai
Executive Summary
A 2023 construction Nest School located in Westfield – an explosive growth Indianapolis submarket with substantial population increases projected within a 1, 3, and 5-mile radius of the subject property over the next five years. The tenant just signed a 15-year corporate lease featuring 2% annual rental increases that is backed by an ultra-high net worth guarantor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,275 SF
Building Class
C
Year Built
2023
Price
$6,357,000
Price Per SF
$563.81
Cap Rate
7%
NOI
$445,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.22
Lot Size
1.20 AC
Nearby Major Retailers
Property Taxes
| Parcel Number | 29-09-02-000-001.201-015 | Improvements Assessment | $1,696,900 |
| Land Assessment | $434,000 | Total Assessment | $2,130,900 |
Property Taxes
Parcel Number
29-09-02-000-001.201-015
Land Assessment
$434,000
Improvements Assessment
$1,696,900
Total Assessment
$2,130,900
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The Nest Schools | 17313 Spring Mill Rd
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