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Subway & Biggby Coffee | Dual-Tenant NNN 718 N Us-31 2,709 SF Retail Building Greenwood, IN 46142 $2,836,364 ($1,047.02/SF) 5.50% Cap Rate
Investment Highlights
- Dual-Tenant NNN Subway and Biggby Coffee Configuration
- 15-Year Passive Income Stream
- Extremely Busy Greenwood Retail Corridor
- Brand-New 2026 Remodel
- Additional Parking Lot Income w/ Massive Upside (Inquire w/ Agent for Details)
- Dense Retail and Residential Node
Executive Summary
We are pleased to present a dual-tenant NNN retail investment featuring Subway and Biggby Coffee, strategically positioned along the high-traffic U. S. 31 corridor within the Indianapolis MSA. The property was remodeled in 2026 to create a modern, complementary food and beverage configuration totaling ±2,709 SF on ±1.12 acres. Both tenants operate under new 15-year NNN leases commencing at close of escrow, offering zero landlord responsibilities and scheduled 10% rent increases every five years.
The asset also includes a leased parking lot generating $36,000 annually, providing additional income and future redevelopment potential upon lease expiration in 2034. With a price of $2,836,364, NOI of $156,000, and a 5.50% cap rate, the property delivers stable, diversified income backed by high-net-worth personal guarantees from both tenants.
The asset also includes a leased parking lot generating $36,000 annually, providing additional income and future redevelopment potential upon lease expiration in 2034. With a price of $2,836,364, NOI of $156,000, and a 5.50% cap rate, the property delivers stable, diversified income backed by high-net-worth personal guarantees from both tenants.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,709 SF
Building Class
C
Year Built
1990
Price
$2,836,364
Price Per SF
$1,047.02
Cap Rate
5.50%
NOI
$156,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.12 AC
Zoning
C
Parking
65 Spaces (23.99 Spaces per 1,000 SF Leased)
Frontage
124’ on N Us-31
Amenities
- Restaurant
- Drive Thru
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 41-02-30-041-056.000-026 | Improvements Assessment | $293,600 |
| Land Assessment | $458,500 | Total Assessment | $752,100 |
Property Taxes
Parcel Number
41-02-30-041-056.000-026
Land Assessment
$458,500
Improvements Assessment
$293,600
Total Assessment
$752,100
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Matterport 3D Tour
Photos
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Subway & Biggby Coffee | Dual-Tenant NNN | 718 N Us-31
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