365 Perry Rd Plainfield, IN 46168-2779

Property Details for 365 Perry Rd

Year built

2006

Construction

WOOD

Lot size

1.61 lot acres

Property size

6,192 SF

Property type

Turn key restaurants

APN

32-09-30-226-003.000-012

APU

320930226003000012

Description

This exceptional investment opportunity presents a 6,506 square foot Red Robin restaurant located at 365 Perry Rd, Plainfield, IN 46168. The property boasts a strong 6.60% cap rate and a substantial net operating income (NOI) of $201,259. Secured by a corporate guarantee, the absolute NNN lease features a remaining term of 13.7 years, extending to July 30, 2038, with built-in rent bumps of 10% every five years, including option periods of 3 and 5 years. Situated on a 1.61-acre lot, this property benefits from its prime location within The Shops at Perry Crossing, a dominant retail center, providing excellent visibility and accessibility. The site enjoys convenient access to I-70 and State Road 267, connecting to major commercial and industrial areas. Plainfield's robust growth, with an average household income of $98,327 within a 5-mile radius, and proximity to Indianapolis International Airport, further enhances the investment's appeal. The property's tenant, Red Robin, is a nationally recognized brand in the casual dining sector, ensuring consistent revenue streams. Nearby national retailers include Chick-fil-A, Walmart, Ulta, Target, and Buffalo Wild Wings, solidifying the area's strong retail presence. This passive ownership opportunity requires no landlord responsibilities for taxes, CAM, or insurance, making it an attractive investment for discerning buyers. The asking price is $3,049,000.