1632 Bush Ln Crawfordsville, IN 47933-3364

Property Details for 1632 Bush Ln

Year built

2016

Construction

TYPE NOT SPECIFIED

Lot size

3.04 lot acres

Property size

10,280 SF

Property type

Individual retail properties

APN

54-10-08-200-061.004-030

APU

541008200061004030

Description

This exceptional investment opportunity presents a 10,280 square foot Planet Fitness located at 1632 Bush Ln, Crawfordsville, IN 47933. The property sits on a 3.04-acre lot and boasts a new 10-year lease commencing September 1, 2024, and expiring August 31, 2034. The lease includes four 5-year renewal options, each with a 10% rent increase. The current asking price is $1,292,000, reflecting a 6.50% cap rate and a net operating income (NOI) of $84,000. The property benefits from a strong lease guaranty provided by a 150+ location operator with a significant presence across the Midwest, Northeast, and Southeast. This is a Net Net (NN) lease, minimizing landlord responsibilities. The building was constructed in 2016 and enjoys a prime retail corridor location in Crawfordsville, surrounded by major national retailers such as Kroger, Home Depot, Walmart, and more. Crawfordsville's strategic location, approximately 45 miles northwest of Indianapolis, provides access to a substantial market within the Indianapolis Metropolitan Statistical Area (MSA), exceeding 2 million people. The property's location within a thriving retail area, coupled with the strength of the Planet Fitness brand and the long-term lease, makes this a compelling investment opportunity. The 10% rent bumps every five years ensure consistent income growth.

Location Insight

City

Crawfordsville

County

Montgomery

State

Indiana

Longitude

-86.9023

Latitude

40.019

CBSA code

18820

CBSA name

CRAWFORDSVILLE, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments