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28041989
28041990

7015 Madison Ave, Southport, IN 46227

AR
OH SAL.2024002863
Marcus & Millichap - Columbus
CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus
$2,040,000
215 days on market
Updated 66 days ago

Southport Village Center

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 10,515
Units 4
Cap Rate 8%
NOI $163,205
Occupancy 100%
Price per SqFt $194
Year Built 1961
Buildings 2
Stories 1
Acreage 1.580

Retail | 8.00% CAP | 10,515 SqFt

Investment highlights

  • 100% Occupied 10,515 SF Strip Center Positioned Along Madison Avenue – High-Traffic Corridor Through Southport

  • Landlord-Favorable Structure with NNN Lease – Tenants Responsible for Taxes, Insurance & CAM

  • Located at Hard Corner of Madison Ave and E Southport Rd Seeing 48,000 VPD Combined

  • Dense Demographics with 214,000+ Residents Within 5 Miles | $83,500 Avg. HH Income

  • Grocery Store Renewed a Year Early on a 10-Year Lease

  • New Roof in 2025 on Entire Building with 15 Year Warranty

  • Consumer Spending of $2.5 Billion Annually in Surrounding Trade Area

  • Surrounded by National Tenants Including Dollar Tree, Dairy Queen, and Regional Retailers

  • Excellent Visibility & Ingress/Egress from Madison Ave with 20 Dedicated Parking Spaces

  • Indianapolis MSA – 2 Million+ Residents and $126 Billion GDP, Ranked a Top U.S. Growth Market

  • Area Employers Include Eli Lilly, IU Health, Roche Diagnostics, and Ascension St. Vincent

  • Median Household Incomes in Indianapolis Grew 2.4% Year-Over-Year | Median Property Values Up 4.3%

  • Strong Regional Connectivity with Immediate Access to Interstates and Indianapolis International Airport

  • Median Age of 34.2 Years in 1-Mile Radius – Strong Consumer Base of Young, Working-Age Residents

  • Retail Corridor Supported by Over 1 Million Employees in Metro Area

  • Stable Asset with Long-Term Value Preservation in Core Indianapolis Growth Corridor

Listing Contacts

AR
OH SAL.2024002863
Marcus & Millichap - Columbus
CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus

Valuation Calculator

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$163,205.00
$13,600.42/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Josh Caruana
License
IN RB14034355
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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