320 Scatterfield Rd Anderson, IN 46012-3601

Property Details for 320 Scatterfield Rd

Year built

2003

Construction

TYPE NOT SPECIFIED

Lot size

1.44 lot acres

Property size

14,406 SF

Property type

Outlet malls

APN

48-12-08-302-150.000-003

APU

481208302150000003

Description

This exceptional investment opportunity presents a 14,418-square-foot Walgreens located at 320 S Scatterfield Rd, Anderson, IN 46012. The property, built in 2004 and situated on 1.38 acres, boasts a prominent location on a high-traffic corridor (24,886 VPD) with excellent visibility. The single-tenant building is leased to Walgreens under an absolute NNN lease with a corporate guarantee, offering minimal landlord responsibilities. The lease, commencing August 1, 2004, has a remaining term of 4.7 years with ten 5-year options. The property features a drive-thru, ample surface parking (55 spaces), and pylon signage. The strong tenant, Walgreens (S&P: BBB), ensures a stable income stream, reflected in the $300,000 NOI and a 6.00% cap rate. The asking price is $5,000,000, translating to $346.79 per square foot. The property's strategic location is further enhanced by its proximity to numerous national retailers, including Dollar General, Advance Auto Parts, and several fast-food restaurants. Its location less than half a mile from Anderson University adds to its appeal. This is a rare opportunity to acquire a stabilized, high-performing retail asset with a long-term, creditworthy tenant. The property offers significant upside potential due to the lease options and strong market fundamentals. The 100% occupancy since August 1, 2004, underscores the property's enduring appeal and consistent performance.

Location Insight

City

Anderson

County

Madison

State

Indiana

Longitude

-85.6522

Latitude

40.1125

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments