Dual-Tenant Drive-Through Retail
For Sale
$2,836,364
718 US 31 S, Greenwood, IN 46142
NNN retail asset with Subway and Biggby Coffee, plus a leased parking lot, recently remodeled for modern food-and-beverage use.
Property Size2,709 SF
Lot Size1.12 Acres
Price / SF$1,047
Days on Market114
Property Features for 718 US 31 S
General Information
Standard status
Active
Size
2,709 SF
Lot size
1.12 Acres
Property subtype
Restaurant
Occupancy
100%
Lease Type
NNN
Additional Details
Cap Rate
5.5%
Highway Access
Yes
Amenities
Dual-Tenant NNN Subway and Biggby Coffee Configuration
Brand-New 2026 Remodel
15-Year Passive Income Stream | Additional Parking Lot Income
Prime Greenwood Location | Dense Retail and Residential Node
Building Details
Building Size
2,709 SF
Year Renovated
2026
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Jason Fefer · License #License(s): CA: 02100489
(310) 909-2394
Source:
Marcusmillichap
Added: May 14
Changed: Aug 24
Last Checked: Sep 4 at 2:14AM
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 - Los Angeles
Investment Insights
Based on property information with market context.
Marcus & Millichap presents a dual-tenant NNN retail investment featuring Subway and Biggby Coffee. The property was remodeled in 2026 to support a modern, complementary food-and-beverage configuration totaling ±2,709 SF.
Both tenants operate under new 15-year NNN leases commencing at closing, with scheduled 10% rent increases every five years and zero landlord responsibilities. The asset is positioned along the high-traffic U.S. 31 corridor within the Indianapolis MSA.
A leased parking lot is included to provide additional annual income, with the parking lease expiring in 2034. The offering is supported by tenant personal guarantees and is structured to deliver stable, diversified NNN income.
Both tenants operate under new 15-year NNN leases commencing at closing, with scheduled 10% rent increases every five years and zero landlord responsibilities. The asset is positioned along the high-traffic U.S. 31 corridor within the Indianapolis MSA.
A leased parking lot is included to provide additional annual income, with the parking lease expiring in 2034. The offering is supported by tenant personal guarantees and is structured to deliver stable, diversified NNN income.
Key Highlights
- Dual‑tenant NNN retail investment with Subway and Biggby Coffee on the high‑traffic U.S. 31 corridor in the Indianapolis MSA
- Remodeled in 2026 for a modern food‑and‑beverage configuration totaling 2,709 SF on 1.12 acres
- Both tenants are on new 15‑year NNN leases starting at close of escrow with zero landlord responsibilities
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
693k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 40%
Shops & Services 22%
Dining 20%
Electronics 7%
DICK'S Sporting Goods
Apparel
102,581 visits/mo
0.3 miles
Macy's
Apparel
71,451 visits/mo
0.5 miles
Kohl's
Apparel
66,716 visits/mo
0.2 miles
Barnes & Noble
Shops & Services
50,410 visits/mo
0.4 miles
Olive Garden
Dining
45,696 visits/mo
0.5 miles
Demographics for 46142, IN
32,052
Population
14,396
Households
2.2
Avg Household Size
40
Median Age
39%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
2,151
Density / Sq Mi
$85,611
Median Household Income
$47,831
Median Earnings
$1,122
Median Rent
$266,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - NNN retail asset with Subway and Biggby Coffee, plus a leased parking lot, recently remodeled for modern food-and-beverage use.
Where is this drive through restaurant located?
The property is located at 718 US 31 S Greenwood, IN.
What is the asking price?
The asking price for this property is $2,836,364.
What are key features of this property?
This property features: Dual‑tenant NNN retail investment with Subway and Biggby Coffee on the high‑traffic U.S. 31 corridor in the Indianapolis MSA; Remodeled in 2026 for a modern food‑and‑beverage configuration totaling 2,709 SF on 1.12 acres; Both tenants are on new 15‑year NNN leases starting at close of escrow with zero landlord responsibilities
