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University Shoppes 3919 Madison Ave 36,742 SF 100% Leased Retail Building Indianapolis, IN 46227 $6,300,000 ($171.47/SF) 8.50% Cap Rate
Investment Highlights
- Two-tenant retail center 100% occupied by Hope Academy and Indiana BMV with ±7 years average lease term.
- Hope Academy lease features annual rent escalations, driving intrinsic NOI growth.
- Adjacent to University of Indianapolis main campus with 5,500+ students.
- Absolute passive investment with $560,221 NOI and 8.5% cap rate at $6,600,000 price.
- Prime signalized corner location at E Hanna Ave & Madison Ave with 36,325 VPD.
- Modern construction, minimal near-term CapEx, and strong trade area demographics.
Executive Summary
Broker of Record
Kyle Matthews
License # RC52200195, RB17001213 (IN)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # RC52200195, RB17001213 (IN)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
36,742 SF
Building Class
B
Year Built/Renovated
1990/2009
Price
$6,300,000
Price Per SF
$171.47
Cap Rate
8.50%
NOI
$535,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
7.79 AC
Opportunity Zone
Yes
Zoning
Commercial - University Shoppes is zoned C7 which allows for most uses.
Parking
175 Spaces (4.76 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Public Administration
- -
- -
-
Jan 0000
Whether people call Indiana home, or visit their great state – no matter what they're looking for, they'll find it here in Indiana. They’ve made it their mission to empower people by providing good government service at a great value and continuing to build the best place in the world to live, work, play, study and stay.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Public Administration | - | - | Jan 0000 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-11-25-107-013.000-501 | Improvements Assessment | $2,987,000 |
| Land Assessment | $669,200 | Total Assessment | $3,656,200 |
Property Taxes
Parcel Number
49-11-25-107-013.000-501
Land Assessment
$669,200
Improvements Assessment
$2,987,000
Total Assessment
$3,656,200
Contacts
-
Pierce Mayson -
Jeff Enck -
Boris Shilkrot -
Kyle Stonis -
Ben Snyder -
Zack Bates -
SRS Real Estate Partners
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