812-924 E Main St
Brownsburg, IN 46112
Brownsburg Shopping Center · Retail Property For Sale
Property Facts
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
About 812-924 E MAIN ST , BROWNSBURG, IN 46112
94% Occupied Planet Fitness and Dollar General Anchored Shopping Center - 41,465 square foot multi-tenant retail center - Attractive 8.50% unleveraged yield; and Potential 12.61% leveraged cash-on-cash return 75% of the Occupied Square Footage is Leased to Planet Fitness, Dollar General, and Bureau of Motor Vehicles (BMV): - Planet Fitness - New 10-year lease commenced in 2016 - Dollar General - Tenant at the center since 1996 paying a below market rent ($7.46 PSF annually) - BMV - Tenant at the center since 2009 Priced Below Replacement Cost at $116 PSF Secure and Stable Investment with Upside: - Replaceable and sustainable rents (average of $11 PSF annually) - Future upside in rents though renovation (shop space rents are $20-$26 PSF annually in nearby shopping centers that have recently been renovated) - Extremely low vacancy rates in Brownsburg shopping centers which has increased market rents Ideally Situated on East Main Street (US 136): The primary commercial/retail thoroughfare in Brownsburg, a suburb west of Indianapolis with convenient area access via I-74 Excellent Signalized Intersection Location: Located at East Main Street and Hornaday Road with average daily traffic counts of 25,000 CPD Affluent Demographics: AHHI of $93,000 within a 5-mile radius of the subject property Central Retail Location: Notable tenants in the area include a brand new Kroger (opening March 2018), Ace Hardware, Chase Bank, McDonald’s, and First Merchant’s Bank Close Proximity to Major Distribution Centers and the Immediate Area’s Largest Employers, the 400-Acre Eaglepoint Business Park - 2,450,000 SF of bulk distribution and flex space - High daytime daily traffic generator - Prominent users in the park include distribution facilities for: - TJX/Home Goods - 805,000 square feet (450 employees) - Guitar Center - 772,000 square feet - O’Reilly Auto Parts - 405,000 square feet (600 employees) Rapid Growth in Brownsburg with its Population Doubling Since 2010
Property Taxes
| Parcel Number | 32-07-12-358-001.000-016 | Improvements Assessment | $3,167,600 |
| Land Assessment | $1,137,500 | Total Assessment | $4,305,100 |
Property Taxes
