3704 Washington StIndianapolis, IN 46241

Property Details for 3704 Washington St

Year built

1988

Lot size

0.80 AC

Property size (Sq ft)

2,245 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

49-11-08-141-007.000-930

APU

491108141007000930

Description

This fee-simple ownership opportunity presents a compelling investment in a thriving Indianapolis, Indiana, KFC location. The 2,245 square foot restaurant, built in 1990 and renovated in 2018, sits on a 0.8-acre lot with 35 parking spaces and boasts a convenient drive-thru. The property enjoys 100% occupancy under a corporate-guaranteed Net Lease (NNN) agreement with a remaining term of 4 years and three 5-year options, each including a 10% rent increase. This ensures consistent, inflation-hedged income growth. The current Net Operating Income (NOI) is $49,390, yielding a 5.50% cap rate on the $898,000 asking price. The property is zoned C-1 and benefits from high visibility on W. Washington Street (23,000 vehicles per day), a major thoroughfare connecting to downtown Indianapolis. Its strategic location near Interstate 74 (147,700 VPD), Lucas Oil Stadium, Indianapolis Motor Speedway, and Indiana University, along with proximity to national retailers like Costco, Sam's Club, Kroger, and Lowe's, ensures consistent customer traffic. The strong demographics within a 5-mile radius, encompassing over 217,000 residents and 256,800 employees, further solidify this investment's potential. Minimal landlord responsibilities make this an ideal low-management investment.

• CAP approach

  CAP return

  Valuation

  6%

  $428,097

  6.5%

  $395,166

  7%

  $366,940

• Comparable approach

  Method

  Valuation

  Relative Method

  $531,128

  Geo Method

  $531,128

• Alternative Use

  Use

  Valuation

  Residential

  $333,338

  Hospitality

  $305,335

  Educational

  $254,035

  Medical

  $262,772

  Retail

  $395,166

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.7614

Longitude

-86.2237

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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