216 Gable Xing Dr Avon, IN 46123-6689

Property Details for 216 Gable Xing Dr

Year built

2014

Construction

TYPE NOT SPECIFIED

Lot size

7.83 lot acres

Property size

89,888 SF

Property type

Retail space

APN

32-09-06-484-001.000-031

APU

320906484001000031

Description

This exceptional investment opportunity presents a fee-simple interest in a 90,164-square-foot, single-tenant At Home retail property situated at 216 Gable Crossing Drive, Avon, Indiana, 46123. The property, built in 2019 as a build-to-suit, boasts a 15-year absolute NNN lease with At Home Stores LLC, offering a corporate guarantee and significant remaining lease term of approximately 9.9 years. The lease includes annual 2% rent bumps and four, five-year renewal options, ensuring a stable and growing income stream. The property generates a strong net operating income (NOI) of $901,635, resulting in an attractive 8.25% cap rate. Located on a 7.83-acre lot, this one-story building enjoys a prime location in a thriving retail corridor with high traffic volume (45,000 vehicles per day) and is shadow-anchored by a Walmart Supercenter. The surrounding area demonstrates exceptional demographics, with over 146,000 residents within a five-mile radius and an average household income exceeding $102,000. This asset offers investors a passive, long-term investment opportunity in a strong retail market within the Indianapolis MSA, a location recently ranked #1 in the U.S. for starting a business by Forbes magazine. The property's location is strategically positioned just eight miles from downtown Indianapolis. This At Home location is ranked among the top three in Indiana based on visitor data. The asking price is $10,930,900.

Location Insight

City

Avon

County

Hendricks

State

Indiana

Longitude

-86.3506

Latitude

39.7658

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments