5151 82Nd StIndianapolis, IN 46250

Property Details for 5151 82Nd St

Year built

1999

Construction

TYPE NOT SPECIFIED

Lot size

4.68 AC

Property size (Sq ft)

77,454 SF

Zone code

ZO01

Property type

Commercial real estate

APN

49-02-21-126-012.000-800

APU

490221126012000800

Description

This exceptional investment opportunity presents a 26,290 square foot PetSmart storefront located at 5151 E 82nd St, Indianapolis, IN 46250. The property sits on a 1.66-acre lot (APN: 49-02-21-126-011.000-800) and boasts a 100% occupancy rate with a strong, creditworthy tenant, PetSmart, under an absolute NNN lease. The current lease, with a remaining term of 12 years (expiring 11/30/2036), commenced on 11/05/1999 and includes 7% rental increases every 5 years. The property features a 7.00% cap rate and a net operating income (NOI) of $548,534, with an asking price of $7,836,000 ($298.06/sq ft). The building, constructed in 1999, benefits from a roof replacement completed in 2017. This prime location is strategically positioned in a high-traffic area with an annual average daily traffic (AADT) exceeding 86,300 vehicles at the intersection. The surrounding area is affluent, with over 168,400 residents within a 5-mile radius and an average household income exceeding $121,000. Nearby prominent retailers include Trader Joe's, Whole Foods, Chick-fil-A, REI, and major shopping centers like The Fashion Mall at Keystone and Castleton Square Mall. This presents a rare opportunity to acquire a well-established, high-performing retail asset with a long-term lease and significant upside potential.

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.9041

Longitude

-86.0824

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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