744 Tournament Trl, Westfield, IN 46074

Property Details for 744 Tournament Trl

Year built

2024

Lot size

6.22 lot acres

Property type

Grocery and convenience stores

Description

This exceptional investment opportunity presents the leasehold interest in a newly constructed, 49,600 square-foot Giant Eagle Market District grocery store located at 744 E Tournament Trl, Westfield, IN 46074. The property sits on a 6.22-acre lot and boasts a 100% occupancy rate with a long-term, absolute NNN lease. The lease commenced July 25, 2023, and has a primary term expiring July 31, 2043, with six five-year renewal options, providing a remaining lease term of approximately 18.7 years. The property features a strong 6.75% cap rate and a net operating income (NOI) of $1,222,640. The asking price is $18,110,000. This Class A, single-tenant property is part of Giant Eagle's Market District concept, offering an expansive selection of grocery items and grab-and-go meals. It's also a LEED-certified, zero-waste store, reflecting its commitment to sustainability. Westfield, Indiana, is experiencing exceptional population growth, making this a highly desirable location. The area within a three-mile radius has over 110,000 residents with an average household income of $163,858. The property's proximity to Grand Park Sports Campus, a major sports and tourism destination, further enhances its appeal. This investment offers a truly passive income stream with zero landlord responsibilities, making it an attractive opportunity for investors seeking a stable, long-term return in a high-growth market. The property was built in 2024 and is a single-story building. This offering is also part of a portfolio opportunity including other Giant Eagle locations.

Location Insight

City

Westfield

County

Hamilton

State

Indiana

Longitude

-86.1450432

Latitude

40.0446307