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Meineke | 15 Year NNN | Indianapolis 5323 W 38th St 3,080 SF Retail Building Indianapolis, IN 46254 $1,536,000 ($498.70/SF) 6.25% Cap Rate
Investment Highlights
- Brand-new 15-year Absolute NNN lease with zero landlord responsibilities and 22,000 VPD frontage.
- Dense trade area with 103,000+ residents, near Indianapolis Motor Speedway attracting 1.3M annual visitors.
- Prime W 38th Street location with 22,000 VPD, across from Meijer and near Home Depot and Target.
- Largest U.S. Meineke franchisee operating 56 locations, backed by an established national brand with 900+ locations.
Executive Summary
Brand New 15 Year Absolute NNN Lease
High Performing Location across from Meijer
Guaranteed by the Largest Meineke Franchisee (56 Units)
Excellent Visibility & Frontage on W 38th Street
Centrally Located in Retail Corridor surrounded by National Tenants
Investment Highlights
•Brand New 15 Year Absolute NNN lease with zero landlord responsibilities
•Direct frontage and visibility to approximately 22,000 vehicles daily on W 38th Street
•Established Meineke Car Care Center positioned for long term occupancy
•Guaranteed by Solvix Auto LLC — the largest Meineke franchisee in the United States
Location Highlights
•Located along W 38th Street, a primary commercial corridor in west Indianapolis with a daily traffic volume of 22,000 vehicles per day
•Strategic location across from Meijer and proximate to Home Depot and Target
•Dense residential and commercial trade area: over 103,000 residents and 42,000 households within 3 miles
•Proximate to Indianapolis Motor Speedway - drawing 1.3M spectators a year
•Established Meineke auto service site in a supply-constrained west Indianapolis corridor
Tenant Highlights
•Experienced Operator: Solvix Auto LLC operates 56 Meineke locations nationwide, the largest Meineke franchisee in the United States, with plans to expand to 100+ units
•Meineke: Established national auto care brand with 900+ locations, a subsidiary of Driven Brands, Inc.
High Performing Location across from Meijer
Guaranteed by the Largest Meineke Franchisee (56 Units)
Excellent Visibility & Frontage on W 38th Street
Centrally Located in Retail Corridor surrounded by National Tenants
Investment Highlights
•Brand New 15 Year Absolute NNN lease with zero landlord responsibilities
•Direct frontage and visibility to approximately 22,000 vehicles daily on W 38th Street
•Established Meineke Car Care Center positioned for long term occupancy
•Guaranteed by Solvix Auto LLC — the largest Meineke franchisee in the United States
Location Highlights
•Located along W 38th Street, a primary commercial corridor in west Indianapolis with a daily traffic volume of 22,000 vehicles per day
•Strategic location across from Meijer and proximate to Home Depot and Target
•Dense residential and commercial trade area: over 103,000 residents and 42,000 households within 3 miles
•Proximate to Indianapolis Motor Speedway - drawing 1.3M spectators a year
•Established Meineke auto service site in a supply-constrained west Indianapolis corridor
Tenant Highlights
•Experienced Operator: Solvix Auto LLC operates 56 Meineke locations nationwide, the largest Meineke franchisee in the United States, with plans to expand to 100+ units
•Meineke: Established national auto care brand with 900+ locations, a subsidiary of Driven Brands, Inc.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
3,080 SF
Building Class
C
Year Built
2005
Price
$1,536,000
Price Per SF
$498.70
Cap Rate
6.25%
NOI
$96,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.39 AC
Zoning
BC
Parking
10 Spaces (8.12 Spaces per 1,000 SF Leased)
Frontage
127’ on W 38th St
Amenities
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-05-24-101-029.000-901 | Improvements Assessment | $161,000 |
| Land Assessment | $97,200 | Total Assessment | $258,200 |
Property Taxes
Parcel Number
49-05-24-101-029.000-901
Land Assessment
$97,200
Improvements Assessment
$161,000
Total Assessment
$258,200
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