5520 W. 38th St., Indianapolis, IN 46254

Family Development Services is among the most recognized and deeply embedded nonprofit operators in Indiana, holding exclusive federal designation as the Head Start provider for both Marion and Hamilton Counties. Investors acquire fee-simple ownership with zero management responsibilities, while a federally funded, mission-critical tenant handles all day-to-day operations - delivering the purest form of passive net lease income available in today's market.

FDS operates under the federal Head Start and Early Head Start programs, administered by the U.S. Department of Health & Human Services. Unlike retail or office tenants whose revenues contract during economic downturns, demand for Head Start services is countercyclical - enrollment eligibility expands as unemployment rises, ensuring the tenant's operational need for this space remains constant or increases precisely when broader real estate markets soften.

Family Development Services has recently completed a comprehensive renovation of the subject property, investing over $1,000,000 of tenant capital into the space. This level of financial commitment to a specific location is one of the most reliable leading indicators available in net lease underwriting - tenants who invest at this scale do not relocate. The improvements further extend the functional life of the asset and directly reinforce the investor's long-term income thesis.

FDS has maintained a continuous, long-standing occupancy at this location, establishing itself as a deeply rooted community anchor on Indianapolis's northwest side. Demonstrated tenancy of this nature is increasingly rare in the net lease sector and commands a meaningful premium - an investor is not underwriting a new lease or a speculative renewal, but rather a proven, established operator with every operational and financial incentive to remain in place for years to come.