Absolute NNN Retail
For Sale
Contact for pricing
6430 Center Dr, Whitestown, IN 46075
The absolute NNN lease structure assigns property-level responsibilities to the tenant.
Property Size2,806 SF
Price / SF$698.42
Days on Market164
Property Features for 6430 Center Dr
General Information
Standard status
Active
Size
2,806 SF
Total Parking Spaces
32
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$103,868
Building Details
Year Built
2009
Tenancy
Single
Listing Agency:
Veritas Realty
(317) 472-1800
Listed By:
Phoebe Aaron · License #24001509
Source:
Crexi
Added: Mar 20
Changed: Aug 29
Last Checked: Aug 29 at 8:53PM
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 Veritas Realty
Investment Insights
Based on property information with market context.
This 2,806-square-foot retail property was built in 2009 and is occupied by Taco Bell. The asset is offered with an absolute NNN lease structure, placing property-level responsibilities with the tenant, along with 1.50% annual rent increases. The location has supported more than 13 years of operating history.
Positioned at a signalized corner near I-65 and Whitestown Pkwy, the property records 16,766 VPD. The surrounding retail corridor includes Meijer, Lowe’s, Aldi, Hobby Lobby, Dick’s Sporting Goods, and other large-format retailers and quick-service restaurants. The site encompasses 1.00 acre in Whitestown, with redevelopment potential identified in the property information.
Positioned at a signalized corner near I-65 and Whitestown Pkwy, the property records 16,766 VPD. The surrounding retail corridor includes Meijer, Lowe’s, Aldi, Hobby Lobby, Dick’s Sporting Goods, and other large-format retailers and quick-service restaurants. The site encompasses 1.00 acre in Whitestown, with redevelopment potential identified in the property information.
Key Highlights
- Absolute NNN lease structure with tenant responsibility for property‑level obligations
- 1.50% annual rent increases
- 2,806 SF retail building constructed in 2009
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,978
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,199,560
$1.2M
Cap Rate 7%
$856,829
$856.8K
Cap Rate 9%
$666,422
$666.4K
Market Conditions
NOI Build-Up for 2,806 SF
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.
Gross rent
$84.2K $30.00/SF
− Vacancy
−$4.2K −$1.50/SF
EGI
$80.0K $28.50/SF
− OpEx
−$20.0K −$7.13/SF
NOI
$60.0K $21.38/SF
Area
Boone County, IN
Vacancy
5.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,199,560
Cap Rate 7%
$856,829
Cap Rate 9%
$666,422
Alternative Uses
Best Use
Specialty Retail
$856.8K
$749.7K – $999.6K
NOI $59,978 @ 7.0% cap · market cap 3.06%
Second Best
Retail
$128.8K
$112.7K – $150.3K
NOI $9,016 @ 7.0% cap · market cap 0.46%
Theoretical Best
Warehouse
$2.26M
$1.98M – $2.64M
NOI $158,161 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 46075, IN
7,728
Population
3,423
Households
2.3
Avg Household Size
34
Median Age
55%
College-Educated
96%
High-School Grad
31.2 sq mi
ZIP Area
248
Density / Sq Mi
$118,839
Median Household Income
$58,587
Median Earnings
$1,797
Median Rent
$332,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - The absolute NNN lease structure assigns property-level responsibilities to the tenant.
Where is this nnn property located?
The property is located at 6430 Center Dr Whitestown, IN.
What is the asking price?
The asking price for this property is $1,959,774.
What are key features of this property?
This property features: Absolute NNN lease structure with tenant responsibility for property‑level obligations; 1.50% annual rent increases; 2,806 SF retail building constructed in 2009
