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College Park Shopping Center 3643 W 86th St 19,676 SF Retail Building Indianapolis, IN 46268 $3,899,000 ($198.16/SF) 8.25% Cap Rate
Investment Highlights
- 100 Percent Occupied, Goodyear Anchored Retail Center | Strong Tenant Mix | Recently Renovated
- Seven out of Eight Tenants have Net Leases | Half of the Tenants have Annual Rental Increases In-Place
- One Mile from the On/Off Ramp of Interstate 465, which Sees 115,39 Vehicles per Day
- Goodyear and Jordan Fish and Chicken have been Operating at this Location since 2017, Quality Nails since 1999
- Frontage Along W 86th Street, which Sees 35,282 Vehicles per Day
- Major retail corridor | close proximity to 800-bed hospital and industrial corridor
Executive Summary
College Park Shopping Center is a 100 percent occupied neighborhood retail center anchored by Goodyear and supported by a strong, service-oriented tenant mix. The property benefits from long-tenured occupancy, with key tenants operating at this location since 1999 and 2017, complemented by new leasing momentum from tenants signed between 2023 and 2025. Seven of eight tenants operate under net leases, half feature annual rent escalations, and multiple spaces have recently undergone extensive renovations. Positioned just off Interstate 465 (115,390 vehicles per day) with frontage along W 86th Street (35,282 vehicles per day), the center enjoys excellent visibility within a heavily traveled retail corridor. The property benefits from strong retail synergy with College Park Plaza, a nationally top-ranked shopping center located directly across the street, as well as other top-performing retailers in the area. It also benefits from close proximity to an 800-bed hospital and a dense industrial corridor to the west. The property is supported by a strong daytime population of 113,706 employees within a three-mile radius and an average household income of $130,792 within five miles.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
19,676 SF
Building Class
C
Year Built
1986
Price
$3,899,000
Price Per SF
$198.16
Cap Rate
8.25%
NOI
$321,687
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
2.44 AC
Zoning
CM
Parking
40 Spaces (2.03 Spaces per 1,000 SF Leased)
Frontage
117’ on W 86th St
Amenities
- Pylon Sign
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-03-19-126-015.000-600 | Improvements Assessment | $242,500 |
| Land Assessment | $428,800 | Total Assessment | $671,300 |
Property Taxes
Parcel Number
49-03-19-126-015.000-600
Land Assessment
$428,800
Improvements Assessment
$242,500
Total Assessment
$671,300
Contacts
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Phoebe Klein -
Sean Sharko -
Austin Weisenbeck -
Sharko | Weisenbeck | Mendoza Group
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