Net-Leased Drive-Thru
6416 W Washington St Indianapolis, IN 46241
For Sale
$659,000
Net-leased restaurant with a drive-thru, operating since 2020 with a renewed 10-year term.
Property Size2,400 SF
Price / SF$274.58
Days on Market27
Property Features for 6416 W Washington St
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Restaurant
Listing Agency:
Marcus & Millichap SWM Group
(630) 570-2261
Listed By:
Phoebe Klein · License #License(s): IL: 475.208946
(630) 570-2261
Source:
Marcusmillichap
Added: Jun 28
Changed: Jul 23
Last Checked: Jul 23 at 1:46PM
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 Marcus & Millichap SWM Group
Investment Insights
Based on property information with market context.
This net-leased restaurant property is leased to Jordan’s Fish & Chicken, operating at the location since 2020. The tenant recently executed a new 10-year lease renewal, which includes a 5% rent increase effective January 1, 2027, followed by annual 3% rent escalations. The site also features drive-thru functionality, supporting convenient on-site ordering and operational flexibility.
The property is located near Indianapolis International Airport and just off Interstate 465, with traffic reported at 160,941 vehicles per day. It also benefits from frontage along Route 40/Washington Street, with traffic reported at 31,154 vehicles per day.
For investors and tenants seeking a stable, long-term retail platform, the lease structure is designed to provide consistent rent growth throughout the renewal term.
The property is located near Indianapolis International Airport and just off Interstate 465, with traffic reported at 160,941 vehicles per day. It also benefits from frontage along Route 40/Washington Street, with traffic reported at 31,154 vehicles per day.
For investors and tenants seeking a stable, long-term retail platform, the lease structure is designed to provide consistent rent growth throughout the renewal term.
Key Highlights
- Net‑leased restaurant (Jordan’s Fish & Chicken) operating at this location since 2020.
- New 10‑year lease renewal includes a 5% rent increase effective January 1, 2027, plus 3% annual rent escalations.
- Drive‑thru on‑site.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $18.00 |
| − Vacancy | −$3.2k | −$1.35 |
| EGI | $40.0k | $16.65 |
| − OpEx | −$10.0k | −$4.16 |
| NOI | $30.0k | $12.49 |
2,400 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$428.1K
$374.6K – $499.5K
NOI $29,970 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$597.4K
$522.7K – $697.0K
NOI $41,818 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
JORDAN'S FISH AND CHICKEN
Restaurant
jordans fish chicken ...
Restaurant
FAQs
What type of property is this?
Drive through restaurant - Net-leased restaurant with a drive-thru, operating since 2020 with a renewed 10-year term.
Where is this drive through restaurant located?
The property is located at 6416 W Washington St Indianapolis, IN.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Net‑leased restaurant (Jordan’s Fish & Chicken) operating at this location since 2020.; New 10‑year lease renewal includes a 5% rent increase effective January 1, 2027, plus 3% annual rent escalations.; Drive‑thru on‑site.
