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Petland - Richmond IN 4740 National Rd E 6,000 SF Retail Building Richmond, IN 47374 $995,000 ($165.83/SF) 7.84% Cap Rate
Investment Highlights
- Recent 5-Year Lease Renewal | Commitment To The Site | Additional Options To Extend | $1 PSF Rental Increase
- Dense Retail Corridor | Strong Tenant Synergy
- Strong Demographics Trade Area
- NN Lease | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Frontage On National Rd E (15,000 VPD) | Proximity To I-75
Executive Summary
• The tenant, Petland, Inc., recently exercised a 5-year lease renewal, demonstrating their long-term commitment to the location
• One (1) additional 5-year renewal option remains, featuring a flat $1 PSF annual rental increase, supporting future income growth and providing a built-in inflation hedge
• One (1) additional 5-year renewal option remains, featuring a flat $1 PSF annual rental increase, supporting future income growth and providing a built-in inflation hedge
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,000 SF
Building Class
B
Year Built
1987
Price
$995,000
Price Per SF
$165.83
Cap Rate
7.84%
NOI
$78,008
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
0.53 AC
Parking
20 Spaces (3.33 Spaces per 1,000 SF Leased)
Frontage
118’ on E. National Rd.
Amenities
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 89-16-35-440-102.000-030 | Improvements Assessment | $273,600 |
| Land Assessment | $198,400 | Total Assessment | $472,000 |
Property Taxes
Parcel Number
89-16-35-440-102.000-030
Land Assessment
$198,400
Improvements Assessment
$273,600
Total Assessment
$472,000
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Petland - Richmond IN | 4740 National Rd E
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