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33257366
33257365

927 North Emerson Avenue, Greenwood, IN 46143 For Sale

AH
CA 02009656
Matthews
MP
CA 02151372
Matthews
Listed by Matthews
$9,854,000
51 days on market
Updated 38 days ago

Goodwill Industries of Central Indiana, Inc.

Details
Property Type Industrial
Sub Type Distribution
Square Footage 125,000
Cap Rate 6.85%
NOI $675,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 03/31/2031
Remaining Term 5
Rent Bumps Yes
Lease Options 2, 5-Year Options
Price per SqFt $79
Year Built 2016
Acreage 17.950
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/01/2016
Ground Lease No

Goodwill Industries | 125,000 sq.ft. | 17.950 acres

Investment highlights

STRONG NONPROFIT “INVESTMENT-GRADE–EQUIVALENT” TENANT – Goodwill Industries of Central Indiana, Inc. is a leading regional affiliate of Goodwill Industries International, one of the most recognized nonprofit organizations in North America. The Goodwill network collectively operates over 3,300 locations across the U.S. and Canada generates over $7 Billion of Revenue. Goodwill’s mission-driven, donation-based model has demonstrated long-term stability and resilience across all economic cycles.

INSTITUTIONAL QUALITY FACILITY– Built specifically for Goodwill in 2016, this +/-125,000 sq. ft. concrete facility sits on approximately 18 acres and features +/- 32’ clear heights and 15 dock-high doors, offering functionality consistent with modern institutional industrial assets.

BELOW MARKET RENT / LOW VALUE BASIS ($78 PSF) - The in-place lease was executed in 2016 and has remained below current market levels, creating a highly attractive basis of approximately $78/SF for an institutional-quality asset with long-term upside potential.

STRATEGIC INDIANAPOLIS LOCATION Goodwill is located in Greenwood, a high-growth suburb of Indianapolis, one of the Midwest’s premier logistics and economic hubs. Positioned directly off Interstate 65 (connecting north to Chicago and south to Louisville), the site sits within a dense retail and industrial corridor adjacent to Costco, Walmart, and the Indy South Greenwood Airport. Goodwill is surrounded by several newly developed apartment communities, further enhancing the immediate consumer base. This specific industrial pocket is home to major users including Amazon, FedEx, and ULTA Beauty, supporting strong market fundamentals and continued growth.

Listing Contacts

AH
CA 02009656
Matthews
MP
CA 02151372
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$675,000.00
$56,250.00/mo

Valuation Metrics

0
DSCR
6.85%
Cap Rate
6.85%
ROI

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Additional Information

Name
Kyle Matthews
License
RB17001213, RC52200195 (IN)
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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