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Madison Murry Assemblage Center 3301-3307 S Madison Ave 22,050 SF 100% Leased Retail Building Indianapolis, IN 46227 $2,548,638 ($115.58/SF) 9.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% occupied with service based tenants | Compromised of automotive focused tenants
- Modest and replaceable rents | Average rent per square foot is $10.19
- 240 feet of frontage along Madison Ave, which sees 18,709 vehicles per day | Near Interstates 465 & 65
- 4 out of 5 tenants operate on net leases | The 5th tenant pays a fixed amount covering their share of expenses
- Two tenants recently underwent expansions, demonstrating commitment to the site and continued customer demand
- 0.8 miles from University of Indianapolis campus, which serves 5,447 students
EXECUTIVE SUMMARY
This 100% occupied retail center features service-based, automotive-focused tenants with strong lease structures—four operating under net leases and the fifth paying a fixed expense share. Tenants demonstrate long-term commitment through recent expansions and scheduled rent escalations, including annual increases of 5–6% and CPI-based adjustments. The property benefits from a prime location along Madison Avenue with 240 feet of frontage and traffic counts exceeding 18,700 vehicles per day, just minutes from Interstates 465 and 65, downtown Indianapolis, and the airport. Surrounded by major retailers and key demand drivers such as the University of Indianapolis and the Indianapolis Industrial Center, the site enjoys a robust daytime population of over 74,000 within three miles and 371,000 within five miles. With modest, replaceable rents averaging $10.19/SF and strong tenant performance, this asset offers stable income and attractive growth potential in a high-traffic corridor.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
22,050 SF
Building Class
C
Year Built
1974
Price
$2,548,638
Price Per SF
$115.58
Cap Rate
9.25%
NOI
$235,749
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
3.29 AC
Opportunity Zone
Yes
Zoning
ZO01
Parking
44 Spaces (2 Spaces per 1,000 SF Leased)
Frontage
240’ on S Madison Ave
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 49-11-25-105-006.000-501 | Improvements Assessment | $69,500 |
| Land Assessment | $30,200 | Total Assessment | $99,700 |
PROPERTY TAXES
Parcel Number
49-11-25-105-006.000-501
Land Assessment
$30,200
Improvements Assessment
$69,500
Total Assessment
$99,700
CONTACTS
-
Sean Sharko -
Phoebe Klein -
Austin Weisenbeck -
Sharko | Weisenbeck | Mendoza Group
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