Four Tenant Retail Strip - Indianapolis, IN
Four Tenant Strip | Prime Indy Retail Corridor | Sticky Tenancy | Simon Mall Anchored | 6.25% CAP
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a 13,373 SF, four-tenant retail strip center located at 4335 E 82nd Street in Indianapolis, Indiana. The property is 100% occupied by Kohler, MyEyeDr, CoreLife Eatery, and Banfield Pet Hospital, featuring contractual rent growth and limited landlord responsibilities. Situated along Indianapolis’ premier retail corridor with exposure to 36,800+ vehicles per day, the asset benefits from proximity to two of the region’s most prominent retail destinations: The Fashion Mall at Keystone, Indiana’s premier luxury shopping destination with nearly 5 million annual visitors, and Castleton Square, the state’s largest enclosed mall featuring 130+ stores and over 5.6 million annual visits. This unique opportunity allows investors to acquire a stabilized, limited-management retail asset within one of Indiana’s most established and desirable retail trade areas.
Investment highlights
- 156% daytime population growth within a 1-mile radius
- 3.8-year weighted average lease term (WALT) providing near-term cash flow stability from an established tenant roster
- NN lease structure with minimal landlord responsibilities
- $127K average household income within a 5-mile radius
- 267K+ daytime population within 5 miles
- Located within Indianapolis’ premier retail corridor, anchored by Castleton Square, Indiana’s largest enclosed mall with 130+ stores, and The Fashion Mall at Keystone, the state’s leading luxury shopping destination
- High-quality retail product built in 2012
- Excellent visibility and accessibility along E. 82nd Street (36,800+ VPD) with direct connectivity to I-69 (155,000+ VPD)
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