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Walgreens | Indianapolis, IN 6745 E Southport Rd 14,820 SF Retail Building Indianapolis, IN 46237 $3,578,000 ($241.43/SF) 8.25% Cap Rate
Investment Highlights
- Absolute triple-net (NNN) lease with a corporate guarantee and 6 years of term remaining.
- Fills a competitive void for Walgreens and other pharmacies. Significant lack of pharmacies to the south and east.
- Sits on the gateway to a dense residential pocket.
- Among the top 18% of Walgreens locations locally by visits (per Placer.ai).
- Hard-corner site at Southport Rd & Shelbyville Rd with 39,588 VPD (vehicles per day).
Executive Summary
This high-performing Walgreens investment opportunity offers an absolute triple-net (NNN) lease with a corporate guarantee, six years remaining, and 10 additional 5-year renewal options. The store is among the top 18% of Walgreens locations locally by visits, filling a competitive void in the market, with the nearest Walgreens located 3 miles away. The property is situated on a large-acre lot with ample parking, benefiting from strong demand due to a significant lack of pharmacies in the surrounding areas. Located at a high-traffic hard-corner site, the property benefits from proximity to Interstate 65, downtown Indianapolis, and key demand drivers such as Franciscan Health and local schools. The market is growing, with over 15% population growth from 2010-2020 and expected future growth of 2.4-2.69% by 2028, paired with an average household income of $109,553 within a 1-mile radius.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
C
Year Built
2007
Price
$3,578,000
Price Per SF
$241.43
Cap Rate
8.25%
NOI
$295,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.93 AC
Parking
67 Spaces (4.52 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 49-15-14-125-033.000-300 | Improvements Assessment | $1,385,000 |
| Land Assessment | $739,500 | Total Assessment | $2,124,500 |
Property Taxes
Parcel Number
49-15-14-125-033.000-300
Land Assessment
$739,500
Improvements Assessment
$1,385,000
Total Assessment
$2,124,500
Contacts
-
Sean Sharko -
Austin Weisenbeck -
Phoebe Klein -
Sharko | Weisenbeck | Mendoza Group
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