9240 Rockville Rd Indianapolis, IN 46234

This exceptional investment opportunity presents a freestanding Walgreens conveniently located at 9240 Rockville Rd, Indianapolis, IN 46234. The 14,490 square foot property boasts a strong 8.25% cap rate and a substantial net operating income (NOI) of $350,000. The Walgreens tenant has a remaining lease term of 9.6 years with favorable 5% rent bumps every five years and three additional 5-year extension options. This is a true triple-net (NNN) lease, minimizing landlord responsibilities. The property benefits from its high-traffic location along Rockville Road and North Raceway Road, experiencing over 60,000 vehicles per day. It's situated as an outparcel to Raceway Market Centre, a shopping center attracting over 1.4 million annual visitors. The surrounding area is affluent, with over 8,200 residents within a one-mile radius and average annual household incomes exceeding $102,500. Population growth in this area has exceeded 9.7% since 2010. Furthermore, the property is near three top-performing retail centers, ranking in the 75th, 78th, and 86th percentiles nationally. The asking price is $4,242,000, translating to a price per square foot of $292.75. This property offers a passive income opportunity with significant long-term growth potential, backed by an industry-leading tenant in a prime location. Built in 2005, this Walgreens location reports over $1,736,000 in store-level sales (excluding prescription sales) and receives over 225,000 visitors annually. This is a rare opportunity to acquire a high-performing retail asset with exceptional real estate fundamentals.