365 Perry RdPlainfield, IN 46168

Property Details for 365 Perry Rd

Year built

2006

Construction

WOOD

Lot size

1.61 AC

Property size (Sq ft)

6,192 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

32-09-30-226-003.000-012

APU

320930226003000012

Description

This exceptional investment opportunity presents a 6,506 square foot Red Robin restaurant located at 365 Perry Rd, Plainfield, IN 46168. The property boasts a strong 6.60% cap rate and a substantial net operating income (NOI) of $201,259. Secured by a corporate guarantee, the absolute NNN lease features a remaining term of 13.7 years, extending to July 30, 2038, with built-in rent bumps of 10% every five years, including option periods of 3 and 5 years. Situated on a 1.61-acre lot, this property benefits from its prime location within The Shops at Perry Crossing, a dominant retail center, providing excellent visibility and accessibility. The site enjoys convenient access to I-70 and State Road 267, connecting to major commercial and industrial areas. Plainfield's robust growth, with an average household income of $98,327 within a 5-mile radius, and proximity to Indianapolis International Airport, further enhances the investment's appeal. The property's tenant, Red Robin, is a nationally recognized brand in the casual dining sector, ensuring consistent revenue streams. Nearby national retailers include Chick-fil-A, Walmart, Ulta, Target, and Buffalo Wild Wings, solidifying the area's strong retail presence. This passive ownership opportunity requires no landlord responsibilities for taxes, CAM, or insurance, making it an attractive investment for discerning buyers. The asking price is $3,049,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,122,803

  6.5%

  $1,036,433

  7%

  $962,402

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,343,178

  Geo Method

  $1,343,178

• Alternative Use

  Use

  Valuation

  Residential

  $874,270

  Hospitality

  $800,827

  Educational

  $666,278

  Medical

  $689,193

  Retail

  $1,036,433

Location Insight

City

Plainfield

County

Hendricks

State

Indiana

Latitude

39.7134

Longitude

-86.3542

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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