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Meineke 4706 N Keystone Ave 4,831 SF Retail Building Indianapolis, IN 46205 $1,432,000 ($296.42/SF) 6.50% Cap Rate
Investment Highlights
- Guaranteed by award winning 39 Unit Operator with plans to expand to 100+ units
- Strong population demographics of 10,000 in the 1-mile and 103,100 in the 3-mile
- 10% rental increases every five years, driving strong long-term income growth
- Property is strategically positioned near the corner of N Keystone Ave and E 46th St boasting a combined count of 55,000 vehicles per day
- Lease is guaranteed through November 2045, offering almost 20 years of secure income and long-term stability
- Tenant is responsible for roof, parking lot, HVAC, utilities, taxes, insurance (Zero Landlord Responsibilities)
Executive Summary
New 20 year Absolute NNN lease executed in 2025
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,831 SF
Building Class
B
Year Built
1963
Price
$1,432,000
Price Per SF
$296.42
Cap Rate
6.50%
NOI
$93,080
Tenancy
Single
Building Height
1 Story
Building FAR
0.79
Lot Size
0.14 AC
Zoning
ZO01
Parking
10 Spaces (2.07 Spaces per 1,000 SF Leased)
Frontage
52’ on N Keystone Ave
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $77,500 | |
| Land Assessment | $52,700 | Total Assessment | $130,200 |
Property Taxes
Parcel Numbers
Land Assessment
$52,700
Improvements Assessment
$77,500
Total Assessment
$130,200
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