351 Monon BlvdCarmel, IN 46032

Property Details for 351 Monon Blvd

Year built

2018

Lot size

0.29 AC

Property size (Sq ft)

14,225 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

Exceptional investment opportunity: A Class A, 14,225-square-foot, single-tenant retail property featuring the Sun King Brewery in the heart of Midtown Carmel, Indiana. This NNN-leased property boasts a strong 8.5-year remaining lease term, expiring May 31, 2033, with built-in rent increases of 12.7% in 2028 and 7.8% in 2033. The tenant, Sun King Brewery, is Indiana's second-largest brewer, occupying the entire space since its 2018 opening. The property is strategically located adjacent to the Monon Trail and Midtown Plaza, benefiting from high foot traffic and visibility. The asking price is $8,234,283, representing a 6.00% cap rate and a price per square foot of $578.86. The 0.29-acre lot is situated in a high-demand area with exceptional demographics. Within a five-mile radius, the population exceeds 170,770, with average household incomes exceeding $160,000. Carmel consistently ranks among the nation's best places to live, work, and retire, ensuring a stable and appreciating asset. This investment offers a compelling combination of strong tenant occupancy (100%), a long-term lease, and significant upside potential in a thriving market. The property's prime location and the tenant's success make this a truly exceptional opportunity.

Location Insight

City

Carmel

County

Hamilton

State

Indiana

Latitude

39.9759

Longitude

-86.1292

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