22 New RdGreenfield, IN 46140

Property Details for 22 New Rd

Year built

1990

Construction

TYPE NOT SPECIFIED

Lot size

6.54 AC

Property size (Sq ft)

43,527 SF

Property type

Warehouses

APN

30-07-20-401-003.000-009

APU

300720401003000009

Description

This exceptional investment opportunity presents a fee-simple, 43,500 square foot industrial property located at 22 W New Rd, Greenfield, IN 46140. The property is situated on a substantial 6.54-acre lot within the Indianapolis MSA, offering significant potential for future expansion or development. Currently operating under a 20-year absolute NNN lease (commencing October 1, 2019, and expiring September 30, 2039), with 14.9 years remaining, this single-tenant building boasts 100% occupancy and a strong tenant profile. The lease includes 10% rent bumps every five years, ensuring consistent income growth. The property generates a substantial net operating income (NOI) of $359,098, resulting in an attractive 8.50% cap rate. The strategic location at the signalized intersection of N State Street and W New Road provides excellent visibility and accessibility, benefiting from high traffic counts exceeding 25,000 AADT. Surrounding the property are numerous established retailers, including Walmart, Home Depot, and Kroger, further enhancing its desirability. The property is also situated in a strong demographic area with a population of 33,000 and an average household income of approximately $78,000 within a 5-mile radius. The lease includes two, five-year options, providing additional long-term security. Assumable financing at 4.5% is available. This is a rare opportunity to acquire a high-performing, low-maintenance industrial asset with significant upside potential. Asking price: $4,225,000.

• Alternative Use

  Use

  Valuation

  Residential

  $6,493,953

  Hospitality

  $5,948,426

  Educational

  $4,949,020

  Medical

  $5,119,225

  Retail

  $7,698,476

Location Insight

City

Greenfield

County

Hancock

State

Indiana

Latitude

39.8147

Longitude

-85.7717

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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