Listed by Matthews
$6,600,000
University Shoppes
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 37,371
Net Rentable (SqFt) 37,371
Cap Rate 8.50%
NOI $560,221
Occupancy 100%
Tenancy Multi
Class B
Year Built 1990
Year Renovated 2009
Acreage 7.760
Retail | 8.50% Cap Rate | 37,371 SqFt | 7.76 Acres | 100% Occupancy
Marketing description
- Ideal hands-off ownership scenario for passive investors
- With two e-commerce resistant and macro-economic insulated tenants – Hope Academy High School and government tenant – Indiana BMV, both on longer term leases
- University Shoppes, in addition to being a stabilized asset, provides intrinsic NOI growth
- Via Hope Academy’s annual rent escalations, adding value over time
- Positioned immediately adjacent to the University of Indianapolis main campus
- A nationally ranked university by US News and World Report, with over 5,500 students
- Situated within the heart of growing Indianapolis
- At the high traffic, signalized intersection of E Hanna Ave and Madison Ave, accessing a combined 36,325 VPD
- Well-constructed and designed physical asset
- Characterized by modern building aesthetics while minimizing the need for near-term CapEx
- Growing, dense trade area demographics
- Highlighted by a 5-mile population of over 223,000 people
- Hanna Shoppes, though not a part, provides consumer synergy for the Property
- Via traditional retail tenants and restaurant draws like Don Juan’s Taqueria, Papa John’s, and Friend’s Diner
- 100% occupied two-tenant retail asset
- Occupied by Hope Academy and the Indiana Bureau of Motor Vehicles with 7 years of avg. remaining lease term
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$560,221.00
$46,685.08/mo
Valuation Metrics
0
DSCR
8.49%
Cap Rate
8.49%
ROI
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