Property profile

8956 N 600 W McCordsville, IN 46055

FOR LEASE
Grocery and convenience stores
Property ID
US31-2868377
7,204 SF 2.85 ac lot Built 2021
Entity Owned 3-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial real estate offering presents a unique investment opportunity in the thriving McCordsville, Indiana market. Currently, a retail building is under construction, with plans for a second building in the near future. The property encompasses 5.7 acres of land, with a 1.2-acre outlot currently available for lease or build-to-suit development. This strategically located site boasts excellent visibility and accessibility from Olio Road, placing it in close proximity to the recently opened New Leo's Market & Eatery. The property's location serves the affluent communities of McCordsville, Fortville, and Geist, an underserved market with high income potential. The existing building offers one available retail space, making it ideal for a variety of businesses seeking a high-traffic location. The potential for future development, combined with the current construction and prime location, makes this a compelling opportunity for investors and businesses alike. The property is zoned for commercial use and offers significant potential for growth and return on investment within a rapidly expanding area. The 1.2-acre outlot provides flexibility for businesses seeking to build their own custom space, tailored to their specific needs. This is a rare chance to secure a prominent position in a burgeoning retail corridor.

Property profile

Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE
Year built 2021
Construction TYPE NOT SPECIFIED
Total area 7,204 SF
Lot 2.85 ac (124,277 SF)
APN 30-01-23-400-030.004-018
UPID US31-2868377

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Food Market Farmer's Market

Location

8956 N 600 W McCordsville, IN 46055
McCordsville metro Census 410201 INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
by Request
Blend (final) Blend
$520k

Owner & transaction history

since 2023
5 recorded transactions
2023
Price N/A
2022
Price N/A
2022
Price N/A
2020
$1.5M
2019
Price N/A

Zoning & alternative use

Top alternative use upside
Retail stores $630,000 +121.4%
Restaurant $550,000 +93.6%
Commercial (general) $530,000 +86.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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