3015 86th St Indianapolis, IN 46268-3602

Property Details for 3015 86th St

Year built

2004

Construction

WOOD FRAME

Lot size

3.41 lot acres

Property size

240 SF

Zone code

ZO01

Property type

Parking lots & garages

APN

49-03-20-120-045.000-600

APU

490320120045000600

Description

This exceptional investment opportunity presents a fee-simple interest in a 134,880-square-foot At Home furniture store located at 3015 W 86th St, Indianapolis, IN 46268. The property sits on a 13.99-acre lot and was built in 2019. Currently operating under a 15-year absolute NNN lease (commencing March 25, 2022, and expiring March 31, 2037), this single-tenant retail building offers a passive investment with approximately 12.4 years remaining on the lease term. The lease includes a significant advantage: 2% annual rent increases, ensuring consistent growth in cash flow. Four 5-year lease options further enhance the long-term stability and return on investment. The current asking price is $8,065,900, representing a price per square foot of $59.80 and a 10.00% cap rate. The property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $806,590. This is a single-story building situated in a dominant retail corridor, offering excellent visibility and accessibility. The property's location near the Ascension Hospital campus adds to its desirability. This is a truly passive investment asset with long-term cash flow potential. The property's strong tenant, built-in rent escalations, and prime location make it an attractive opportunity for discerning investors seeking a stable, high-return investment.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Longitude

-86.2144

Latitude

39.9111

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments