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6302 E 82nd St 31,124 SF 100% Leased Retail Building Indianapolis, IN 46250 $4,343,000 ($139.54/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy traffic
- High Visibility
- Nearby national tenants
EXECUTIVE SUMMARY
100% occupied – 2 -tenant property with Goodwill
and Patel Brothers
Goodwill recent extension through 2039!
Goodwill lease is Absolute NNN, TT responsible for
Roof/HVAC/Structure
Goodwill building is newer construction, 2008
Patel Bros long term tenancy of 10 years, top 1/3 in
chain nationally for traffic
Tenant’s pay their full pro-rata share of RE
Taxes, Property and Liability Insurance and CAM.
Net Operating Income: $325,793
Next to Castleton Square (Simon Mall)
Strategically located in the heart of northeast Indianapolis' primary retail corridor, the property sits adjacent to Castleton Square Mall—Indiana’s largest shopping center with 1.38 million square feet and over 130 national and regional retailers. The offering is priced below current replacement cost, providing immediate value and attractive long-term cash flow. Surrounding demographics are strong, with a population of 170,816 within a five-mile radius, supporting continued tenant performance and positioning this asset as a secure, income-producing investment
and Patel Brothers
Goodwill recent extension through 2039!
Goodwill lease is Absolute NNN, TT responsible for
Roof/HVAC/Structure
Goodwill building is newer construction, 2008
Patel Bros long term tenancy of 10 years, top 1/3 in
chain nationally for traffic
Tenant’s pay their full pro-rata share of RE
Taxes, Property and Liability Insurance and CAM.
Net Operating Income: $325,793
Next to Castleton Square (Simon Mall)
Strategically located in the heart of northeast Indianapolis' primary retail corridor, the property sits adjacent to Castleton Square Mall—Indiana’s largest shopping center with 1.38 million square feet and over 130 national and regional retailers. The offering is priced below current replacement cost, providing immediate value and attractive long-term cash flow. Surrounding demographics are strong, with a population of 170,816 within a five-mile radius, supporting continued tenant performance and positioning this asset as a secure, income-producing investment
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
31,124 SF
Building Class
B
Year Built/Renovated
1977/2008
Price
$4,343,000
Price Per SF
$139.54
Cap Rate
7.50%
NOI
$325,793
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.28
Lot Size
2.57 AC
Zoning
C4 - COMMUNITY BUSINESS
Parking
109 Spaces (3.55 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 49-02-22-101-007.000-400 | Improvements Assessment | $1,090,700 |
| Land Assessment | $739,200 | Total Assessment | $1,829,900 |
PROPERTY TAXES
Parcel Number
49-02-22-101-007.000-400
Land Assessment
$739,200
Improvements Assessment
$1,090,700
Total Assessment
$1,829,900
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