219 Walnut St Hartford City, IN 47348-2026
- Auto shops
- 6,000 SF
- 0.53 lot acres
Feb 24, 2025
Current Use by Public Records
- Auto shops
Property Details for 219 Walnut St
- Year built
- 1960
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 0.53 lot acres
- Property size
- 6,000 SF
- Zone code
- ZO01
- Property type
- Auto shops
- APN
- 05-03-10-404-061.000-006
- APU
- 50310404061000006
Description
This exceptional investment opportunity presents a 6,000 square foot Meineke car care center located at 219 N Walnut St, Hartford City, Indiana, 47348. The property boasts a new 14-year absolute triple net (NNN) lease with two 5-year renewal options, secured by an experienced Meineke franchisee. The franchisee is an established multi-unit operator with 17 locations in the Indianapolis MSA, ensuring strong tenant performance. The building underwent a complete renovation in 2023, with the tenant investing $150,000 in capital expenditures. This single-story building, constructed in 1960 and situated on a 0.58-acre lot (APN: 05-03-10-404-038-000-006), benefits from a prime location along Hartford City's main north-south thoroughfare, surrounded by a high-density retail hub including national brands like McDonald's, CVS, Taco Bell, and Save A Lot. The property's strategic location midway between Indianapolis and Fort Wayne provides excellent accessibility. The asking price is $738,462, representing a $123.08 per square foot price and a 6.50% cap rate, with a Net Operating Income (NOI) of $48,000. The strong tenant, recent renovations, and favorable lease terms make this a compelling investment opportunity. This property is also available as part of a two-property portfolio. Detailed financial information is available upon request.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hartford City
- County
- Blackford
- State
- Indiana
- Longitude
- -85.3706
- Latitude
- 40.4528
