Zionsville Walgreens Retail
For Sale
Contact for pricing
200 S Frd Rd, Zionsville, IN 46077
Freestanding 14,550 SF building on 1.32 acres for sale.
Property Size14,550 SF
Lot Size1.32 Acres
Price / SF$438.83
Days on Market698
Property Features for 200 S Frd Rd
General Information
Standard status
Active
Size
14,550 SF
Class
C
Total Parking Spaces
54
Lot size
1.32 Acres
Property subtype
Retail
Zoning
R-MF-2
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$415,191
Building Details
Year Built
2012
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield - Indianapolis, Indiana
(317) 590-5052
Listed By:
Bill French · License #RB14018427
Source:
Crexi
Added: Sep 24, 2024
Changed: Aug 17
Last Checked: Aug 21 at 6:54AM
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 Cushman & Wakefield - Indianapolis, Indiana
Investment Insights
Based on property information with market context.
The property features a 14,550 square foot building situated on a 1.32-acre lot. It is located a little west of downtown Zionsville, Indiana, recognized as the 3rd best place to live in Indiana. The property benefits from two curb cuts, one on S. Ford Road and another on Oak Street. The surrounding area includes tenants such as Kroger, Planet Fitness, and Ace Hardware. Zionsville is known for prioritizing education and has received awards for its schools.
Key Highlights
- Located in Zionsville, Indiana, ranked as the 3rd best place to live in the state.
- Boasts a 14,550 square foot building on a 1.32‑acre lot.
- Built in 2012, indicating a relatively new construction.
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
$311,006
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
4.87%
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%
$6,220,120
$6.2M
Cap Rate 7%
$4,442,943
$4.4M
Cap Rate 9%
$3,455,622
$3.5M
Market Conditions
NOI Build-Up for 14,550 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
$436.5K $30.00/SF
− Vacancy
−$21.8K −$1.50/SF
EGI
$414.7K $28.50/SF
− OpEx
−$103.7K −$7.13/SF
NOI
$311.0K $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%
$6,220,120
Cap Rate 7%
$4,442,943
Cap Rate 9%
$3,455,622
Alternative Uses
Best Use
Specialty Retail
$4.44M
$3.89M – $5.18M
NOI $311,006 @ 7.0% cap · market cap 4.87%
Second Best
Retail
$667.9K
$584.4K – $779.2K
NOI $46,753 @ 7.0% cap · market cap 0.73%
Theoretical Best
Warehouse
$11.72M
$10.25M – $13.67M
NOI $820,114 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
112k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 35%
Dining 33%
Groceries 23%
Home Improvements & Furnishings 7%
Kroger
Groceries
26,278 visits/mo
0.1 miles
McDonald's
Dining
15,396 visits/mo
0.2 miles
Speedway
Shops & Services
14,820 visits/mo
0.0 miles
Starbucks
Dining
11,814 visits/mo
0.1 miles
Great Lakes Ace Hardware
Home Improvements & Furnishings
7,082 visits/mo
0.1 miles
Demographics for 46077, IN
33,969
Population
13,104
Households
2.6
Avg Household Size
38
Median Age
73%
College-Educated
99%
High-School Grad
44.3 sq mi
ZIP Area
767
Density / Sq Mi
$160,868
Median Household Income
$83,190
Median Earnings
$1,672
Median Rent
$534,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Kroger Pharmacy — 5 Boone Village, Zionsville, IN 46077
- CVS — 1466 W Oak St, Zionsville, IN 46077
- CVS Pharmacy — 1466 W Oak St, Zionsville, IN 46077, United States
- Commons Joanna L — 1466 W Oak St, Zionsville, IN 46077
- Nicholas Empey — 1466 W Oak St, Zionsville, IN 460771800
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding 14,550 SF building on 1.32 acres for sale.
Where is this drug store located?
The property is located at 200 S Frd Rd Zionsville, IN.
What is the asking price?
The asking price for this property is $6,385,000.
What are key features of this property?
This property features: Located in Zionsville, Indiana, ranked as the 3rd best place to live in the state.; Boasts a **14,550 square foot building** on a 1.32‑acre lot.; Built in 2012, indicating a relatively new construction.
