351 Monon Blvd Carmel, IN 46032
- Retail properties
- 14,225 SF
- 0.29 lot acres
Current Use by Public Records
- Retail properties
Property Details for 351 Monon Blvd
- Year built
- 2018
- Lot size
- 0.29 lot acres
- Property size
- 14,225 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
Exceptional investment opportunity: A Class A, 14,225-square-foot, single-tenant retail property featuring the Sun King Brewery in the heart of Midtown Carmel, Indiana. This NNN-leased property boasts a strong 8.5-year remaining lease term, expiring May 31, 2033, with built-in rent increases of 12.7% in 2028 and 7.8% in 2033. The tenant, Sun King Brewery, is Indiana's second-largest brewer, occupying the entire space since its 2018 opening. The property is strategically located adjacent to the Monon Trail and Midtown Plaza, benefiting from high foot traffic and visibility. The asking price is $8,234,283, representing a 6.00% cap rate and a price per square foot of $578.86. The 0.29-acre lot is situated in a high-demand area with exceptional demographics. Within a five-mile radius, the population exceeds 170,770, with average household incomes exceeding $160,000. Carmel consistently ranks among the nation's best places to live, work, and retire, ensuring a stable and appreciating asset. This investment offers a compelling combination of strong tenant occupancy (100%), a long-term lease, and significant upside potential in a thriving market. The property's prime location and the tenant's success make this a truly exceptional opportunity.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Carmel
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.1292
- Latitude
- 39.9759
