86TH STREET BUSINESS CENTER
Office | 8.27% CAP | 51,948 SqFt
Marketing description
Marcus & Millichap is pleased to present for sale the 86th Street Business Park, a two-building flex asset totaling 51,948 square feet situated on approximately 4.75 acres on the northeast side of Indianapolis. The park is 100% occupied by a diverse mix of national, regional, and local tenants and has maintained high historical occupancy — a testament to the quality of the tenant mix and the strength of the submarket.
Direct I-69 access with over 162,311 vehicles per day — the primary corridor connecting northern and southern Indiana into downtown Indianapolis.
Dual interstate connectivity via I-69 and I-465, Indianapolis’s major beltway, providing metro-wide accessibility from every direction.
Adjacent to Fishers, Indiana — one of the most affluent and fastest-growing communities in the state, generating sustained demand for professional flex and office space in this corridor.
Exceptionally tight submarket — per CoStar, blended flex/office vacancy within a 1-mile radius sits at just 1.5%, supporting rent stability and limiting competing supply.
The Yard at Fishers District — ~4.5 miles north via I-69, Fishers District is one of Central Indiana's premier mixed-use destinations, anchored by IKEA, Portillo's, Shake Shack, and the Fishers Event Center. The development draws regional traffic and reflects the sustained growth and affluence of the Fishers market directly adjacent to the subject property's corridor.
Investment highlights
- Anchor Tenant Stability - Sharp Electronics Corporation occupies 24,400 SF (47% of the center) under a lease through April 2029 providing a creditworthy foundation for the income stream
- 100% occupied with a diverse, creditworthy tenant roster and a history of consistent collections and operational stability.
- Staggered lease expirations (2029-2031) limit concentrated rollover risk and provide a new owner with natural re-leasing runway across the hold period
- Limited owner expense obligations with tenants reimbursing their share of expenses over the base year
- High historical occupancy provides a durable income profile with minimal lease-up risk for a new owner.
- New roof in 2018 on approximately 60% of the portfolio, reducing near-term capital expenditure risk for an incoming investor.
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