5151 82Nd StIndianapolis, IN 46250

  • Other commercial real estate
  • 77,454 SF
For Sale
$7,836,000 View listing

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
Other 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.

5151 82Nd St, Indianapolis, Indiana

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$180,218
$2,916,500
$4,184,000
$7,100,500
-
$2,916,500
$4,184,000
$7,100,500

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