Signalized Corner Net-Leased
For Sale
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3820 N College Ave, Indianapolis, IN 46205
Two free-standing buildings on a signalized corner are leased to national tenants, including Bank of America and DaVita.
Property SizeContact for details
Days on Market120
Property Features for 3820 N College Ave
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
Northmarq Capital, LLC
Listed By:
Brandon Duff · License #IL 475139166
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 23 at 2:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
The property consists of two free-standing buildings leased to national tenants. The first building is leased to Bank of America, N.A. and totals 1,478 square feet on 0.5488 acres. The lease has 9 years remaining with 2.00% annual rent increases. It is structured on a NNN basis, with the tenant reimbursing costs including capital items (as long as fully amortized over useful life), plus a 10% admin fee of CAM. The building was completely remodeled with new interior paint and new exterior HVAC units.
The site is located on the signalized corner of a major north/south thoroughfare and an east/west roadway (with reported volumes of 17,143 VPD on N College Ave and 41,534 VPD on 38th Street). It sits on the north side of Indianapolis next to the state fairgrounds. The second building is leased to DaVita Dialysis with a lease guaranty by DaVita, Inc., and it totals 7,903 square feet on 0.9072 acres.
The DaVita lease has over 9 years remaining, with 10.00% rent increases every 5 years. The second building was originally a former Hooks Drug Store; the landlord stripped it to the shell and installed new improvements including a new slab, HVAC, and roof, with reported capital investment exceeding $800,000.
The site is located on the signalized corner of a major north/south thoroughfare and an east/west roadway (with reported volumes of 17,143 VPD on N College Ave and 41,534 VPD on 38th Street). It sits on the north side of Indianapolis next to the state fairgrounds. The second building is leased to DaVita Dialysis with a lease guaranty by DaVita, Inc., and it totals 7,903 square feet on 0.9072 acres.
The DaVita lease has over 9 years remaining, with 10.00% rent increases every 5 years. The second building was originally a former Hooks Drug Store; the landlord stripped it to the shell and installed new improvements including a new slab, HVAC, and roof, with reported capital investment exceeding $800,000.
Key Highlights
- Two free‑standing buildings on a signalized corner of N College Ave (17,143 VPD) and 38th St (41,534 VPD) next to the state fairgrounds
- Bank of America building: 1,478 SF on 0.5488 acres; leased with 9 years remaining and 2.00% annual rent increases (NNN)
- DaVita Dialysis building: 7,903 SF on 0.9072 acres; lease guaranteed by DaVita, Inc., with 9+ years remaining and 10.00% rent increases every 5 years
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
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Demographics for 46205, IN
27,531
Population
14,756
Households
1.9
Avg Household Size
34
Median Age
51%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
4,440
Density / Sq Mi
$65,756
Median Household Income
$48,138
Median Earnings
$1,087
Median Rent
$278,000
Median Home Value
Market
Vacancy Rate% for Retail in Indianapolis, IN
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Frequently Asked Questions
What type of property is this?
Bank - Two free-standing buildings on a signalized corner are leased to national tenants, including Bank of America and DaVita.
Where is this bank located?
The property is located at 3820 N College Ave Indianapolis, IN.
What are key features of this property?
This property features: Two free‑standing buildings on a signalized corner of N College Ave (17,143 VPD) and 38th St (41,534 VPD) next to the state fairgrounds; Bank of America building: 1,478 SF on 0.5488 acres; leased with 9 years remaining and 2.00% annual rent increases (NNN); DaVita Dialysis building: 7,903 SF on 0.9072 acres; lease guaranteed by DaVita, Inc., with 9+ years remaining and 10.00% rent increases every 5 years
