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MADISON MURRY ASSEMBLAGE CENTER 3 Retail Properties Offered at $2,504,260 in Indianapolis, IN
Investment Highlights
- 100% Occupied retail with all service based tenants | 4 out of 5 tenants operate on net leases
- Modest and replaceable rents | Average rent per square foot is $10.29
- Heavily traveled area and close to interstates 465 & 65 | 240 feet of frontage along Madison Ave, which sees 18,746 vehicles per day
- Marathon Auto LLC recently exercised its 3-year option
- Two tenants recently underwent expansions, demonstrating commitment to the site and continued customer demand
- General and high-intensity commercial zoning (C-5 and C-7) and located in a opportunity zone
Executive Summary
This 100% occupied retail center features service-based, automotive-focused tenants with strong lease structures, four operating under net leases and the fifth paying a fixed expense share. Tenants demonstrate long-term commitment through recent expansions and scheduled rent escalations, including annual increases of 5–6% and CPI-based adjustments. Located in a general and high-intensity commercial zoning, the demand for the area is evident, as a recent vacancy took only four days to fill. The property benefits from a prime location along Madison Avenue with 240 feet of frontage and traffic counts exceeding 18,700 vehicles per day, just minutes from Interstates 465 and 65, downtown Indianapolis, and the airport. Surrounded by major retailers and key demand drivers such as the University of Indianapolis and the Indianapolis Industrial Center, the site enjoys a robust daytime population of over 73,000 within three miles and 368,000 within five miles. With modest, replaceable rents averaging $10.29/SF and strong tenant performance, this asset offers stable income and attractive growth potential in a high-traffic corridor.
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Property Facts
| Price | $2,504,260 | Number of Properties | 3 |
| Price / SF | $113.57 / SF | Individually For Sale | 0 |
| Cap Rate | 9.50% | Total Building Size | 22,050 SF |
| Sale Type | Investment | Total Land Area | 1.37 AC |
| Status | Active |
| Price | $2,504,260 |
| Price / SF | $113.57 / SF |
| Cap Rate | 9.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 22,050 SF |
| Total Land Area | 1.37 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 3315 Madison Ave, Indianapolis, IN 46227 | Retail | 8,700 SF | 1974 | - |
| 685 E Murry St, Indianapolis, IN 46227 | Retail | 8,400 SF | 1974 | - |
| 3301-3307 S Madison Ave, Indianapolis, IN 46227 | Retail | 4,950 SF | 1956 | - |
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Contacts
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Phoebe Klein -
Sean Sharko -
Austin Weisenbeck -
Sharko | Weisenbeck | Mendoza Group
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