For Sale
$7,836,000

5151 82Nd StIndianapolis, IN 46250

High-traffic retail investment, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 26,290 square foot PetSmart storefront located at 5151 E 82nd St, Indianapolis, IN 46250. The property sits on a 1.66-acre lot (APN: 49-02-21-126-011.000-800) and boasts a 100% occupancy rate with a strong, creditworthy tenant, PetSmart, under an absolute NNN lease. The current lease, with a remaining term of 12 years (expiring 11/30/2036), commenced on 11/05/1999 and includes 7% rental increases every 5 years. The property features a 7.00% cap rate and a net operating income (NOI) of $548,534, with an asking price of $7,836,000 ($298.06/sq ft). The building, constructed in 1999, benefits from a roof replacement completed in 2017. This prime location is strategically positioned in a high-traffic area with an annual average daily traffic (AADT) exceeding 86,300 vehicles at the intersection. The surrounding area is affluent, with over 168,400 residents within a 5-mile radius and an average household income exceeding $121,000. Nearby prominent retailers include Trader Joe's, Whole Foods, Chick-fil-A, REI, and major shopping centers like The Fashion Mall at Keystone and Castleton Square Mall. This presents a rare opportunity to acquire a well-established, high-performing retail asset with a long-term lease and significant upside potential.

Highlights

  • Brand new 12-year lease extension with PetSmart.
  • Absolute NNN lease; zero landlord responsibilities.
  • PetSmart, the nation's largest pet specialty retailer (1,660+ stores, 750+ in-store vet clinics), is the tenant.
  • 24+ years of operation at this location, with a recent lease extension. 26,290 SF building on 1.66 acres; roof replaced in 2017.
  • 7% rent increases every 5 years.
  • Located in Clearwater Springs Shopping Center, near Aldi, Haverty's Furniture, and Michaels.

Property Details for 5151 82Nd St

Property type
Retail properties, Retail space
Square Feet
26,290 SF
Lot Size (sq. ft)
72,310 SF

Location Insight

City
Indianapolis
County
Marion
State
Indiana
Latitude
39.9042689
Longitude
-86.0796423
5151 82Nd St, Indianapolis, Indiana

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5151 82Nd St
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