9020 21st St Indianapolis, IN 46229-1602

Property Details for 9020 21st St

Year built

1970

Lot size

0.34 lot acres

Property size

2,880 SF

Zone code

ZO01

Property type

Turn key restaurants

APN

49-08-29-112-013.001-700

APU

490829112013001700

Description

This exceptional investment opportunity presents a ground lease interest in a Hardee's restaurant located at 9020 East 21st Street, Indianapolis, IN 46229. The 2,880 square foot property, built in 1970, boasts a 100% occupancy rate with a corporate-guaranteed Absolute NNN lease. The current lease, commencing January 1, 2022, and expiring December 31, 2026, has a remaining term of approximately 2.1 years, with a 10% rent increase every five years and lease options available. The asking price is $660,168, representing a price per square foot of $229.22 and an 8.25% cap rate. The property generates a Net Operating Income (NOI) of $54,464. Benefiting from a prime location adjacent to a Home Depot, the property enjoys high visibility and significant traffic counts exceeding 40,000 vehicles per day. The Hardee's location has a long and successful operating history, exceeding 50 years, with consistent lease renewals. This presents a passive income investment with a strong corporate guarantee and below-market rent, offering immediate upside potential at lease expiration. The property is situated in Indianapolis, Indiana, a major metropolitan area and state capital, providing a stable and growing market. The ground lease structure means the tenant is responsible for all taxes, insurance, and common area maintenance, further enhancing the passive income stream for the investor. This is a rare opportunity to acquire a well-established, high-performing QSR property with significant long-term potential.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Longitude

-86.0085

Latitude

39.7971

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments