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Indianapolis NNN Investment 502 N Rural St 12,008 SF Retail Building Indianapolis, IN 46201 $1,400,000 ($116.59/SF) 9% Cap Rate
Investment Highlights
- Single-Tenant Neighborhood Market with Long-Term Stability
- NNN Lease with minimal landlord responsibilities
- Established tenant within the local community
- Renovated in 2022, featuring a 12,008 SF building with ample on-site parking
- 6+ years remaining with a 10% increase in September 2030
- Neighborhood-Serving Grocery Anchor: La Ceiba Supermarket provides a convenient grocery option for the Eastside of Indianapolis
Executive Summary
Signalized Hard-Corner Location | 2022 Renovation | Downtown Indianapolis Adjacent
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,008 SF
Building Class
C
Year Built/Renovated
1985/2022
Price
$1,400,000
Price Per SF
$116.59
Cap Rate
9%
NOI
$126,000
Tenancy
Single
Building Height
1 Story
Slab To Slab
15’
Building FAR
0.46
Lot Size
0.60 AC
Zoning
ZO01
Parking
40 Spaces (3.33 Spaces per 1,000 SF Leased)
Frontage
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 49-10-05-173-007.000-101 | Improvements Assessment | $322,400 |
| Land Assessment | $57,100 | Total Assessment | $379,500 |
Property Taxes
Parcel Number
49-10-05-173-007.000-101
Land Assessment
$57,100
Improvements Assessment
$322,400
Total Assessment
$379,500
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