231 N Pennsylvania St Indianapolis, IN 46204

Listing agency Cushman & Wakefield - Indianapolis, Indiana Show Phone

Listed by Brooke Ratliff · License #25000924

Source Crexi

Added: Apr 24 Updated: Jul 22 at 4:41AM Checked: Jul 22 at 4:41AM

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Investment Insights

Based on property information with market context.

Cushman & Wakefield is pleased to offer the 170-space Lower Garage Unit of the Ardmore Parking Garage for sale. The property is subject to a long-term double-net lease structure, with rent increases at lease renewal options every five years. During the current term, the operating lease is flat.

The parking facility is integrated with the newly developed Ardmore Apartments and is located in downtown Indianapolis at 231 N Pennsylvania St. Revenue is generated primarily through stable monthly parking contracts with employees of the adjacent Regions Tower, while the garage also provides public parking access for downtown users and visitors. The offering further benefits from proximity to the Mass Ave and Market East districts.

Key Highlights

• 170‑space lower garage unit of the Ardmore Parking Garage in downtown Indianapolis
• Offered as a long‑term double‑net lease with rent increases at renewal options every five years
• Operating lease is flat during the term and is described as well below‑market

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FAQs

What type of property is this?

Parking lot & garage - 170-space lower garage unit offered as a long-term double-net lease with renewal rent increases every five years.

Where is this parking lot & garage located?

The property is located at 231 N Pennsylvania St Indianapolis, IN.

What are key features of this property?

This property features: 170‑space lower garage unit of the Ardmore Parking Garage in downtown Indianapolis; Offered as a long‑term double‑net lease with rent increases at renewal options every five years; Operating lease is flat during the term and is described as well below‑market