Arby's 954 E Main St 3,074 SF Retail Building Greenwood, IN 46143 $1,022,400 ($332.60/SF) 6.25% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Arby’s property located in Greenwood, Indiana, within the Indianapolis MSA. The property is operated by Turbo Restaurants, a subsidiary of Sun Holdings, one of the largest multi-brand franchise operators in the United States with more than 1,800 locations across 27 states. Turbo Restaurants acquired the location from the previous franchisee in 2021, who had successfully operated the restaurant at the site since 1990. In 2016, a 15-year lease extension was executed through 2031, demonstrating long-term commitment to the property. The lease is absolute triple net presenting no landlord responsibilities. Additionally, there are 6.5% rental escalations throughout the extended term and four 5-year renewal options. The next scheduled increase occurs in December 2026.
The 3,074 square-foot building is positioned near the signalized intersection of East Main Street and Emerson Avenue, which sees a combined traffic count of 45,000 vehicles per day. The property is also located just one-half mile west of Interstate 65, a major corridor with 98,000 vehicles per day providing direct access to downtown Indianapolis. Arby’s benefits from its proximity to nationally recognized retailers including Sam’s Club, Camping World, Starbucks, McDonald’s, Circle K, and Waffle House. Additionally, the trade area receives a significant daytime population boost from the extensive industrial presence east of I-65, with major employers such as Amazon, FedEx, Milwaukee Tools, Würth, Dayton Freight, Amcor, Nestlé, Toyota, and Bimbo Bakeries. More than 159,000 residents live within a five-mile radius, with average household incomes exceeding $109,000.
Arby’s is an American fast-food restaurant chain founded in 1964 by brothers Forrest and Leroy Raffel in Boardman, Ohio, as an alternative to hamburger-focused competitors, specializing in roast beef sandwiches. The name “Arby’s” derives from the initials “R.B.” for Raffel Brothers. Now part of Inspire Brands—a multi-brand restaurant company owned by Roark Capital Group and headquartered in Atlanta, Georgia—Arby’s operates more than 3,600 locations worldwide, emphasizing its “We Have the Meats” slogan and a menu featuring high-quality proteins, deli-style options, and drive-thru convenience.