For Sale
$2,059,000

80 Garner RdBrownsburg, IN 46112

High-yield retail investment, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a 4,000-square-foot freestanding Sherwin-Williams store located at 80 E Garner Rd, Brownsburg, IN 46112. The property, built in 2006, sits on a 0.86-acre lot and is offered at $2,059,000, representing a compelling $514.75 per square foot. The property boasts a strong 6.03% cap rate with a current NOI of $124,158. The Net Lease (NNN) agreement with Sherwin-Williams, a globally recognized brand, extends until July 31, 2031, offering a remaining lease term of approximately 6.7 years. The tenant is responsible for all common area maintenance (CAM), real estate taxes, and insurance. This location benefits from high visibility and traffic counts, situated near I-74 with an average daily traffic count of 36,043. The immediate vicinity includes a variety of national retailers such as Culver's, Starbucks, Panda Express, and Goodwill, with a Wawa currently under construction nearby. Further enhancing the property's value are the strong demographics, with average household incomes exceeding $140,000 within a three-mile radius and significant population density. The tenant has a five-year renewal option with a 12% rent increase. This is a rare opportunity to acquire a high-performing, net-leased retail property anchored by a creditworthy tenant in a prime location.

Highlights

  • Sherwin-Williams, a globally recognized paint and coatings manufacturer, occupies the space.
  • Investment-grade tenant with a Standard & Poor's BBB rating and stable outlook.
  • Strong, long-term lease: seven years remaining with a ten-year renewal executed in 2020, plus a five-year option.
  • Tenant pays NNN (Net, Net, Net) expenses, including CAM, taxes, and insurance.
  • Excellent location with high visibility near I-74, surrounded by strong national retailers including Culver's, Starbucks, and Panda Express.
  • New WaWa under construction directly adjacent to the property.

Property Details for 80 Garner Rd

Property type
Retail properties, Retail space
Square Feet
4,000 SF
Year Built
2006
Lot Size (sq. ft)
37,462 SF
Units
1

Location Insight

City
Brownsburg
County
Hendricks
State
Indiana
Latitude
39.8660055
Longitude
-86.3907342
80 Garner Rd, Brownsburg, Indiana

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80 Garner Rd
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