3015 86Th StIndianapolis, IN 46268

Property Details for 3015 86Th St

Year built

2004

Construction

WOOD FRAME

Lot size

3.41 AC

Property size (Sq ft)

240 SF

Zone code

ZO01

Property type

Parking lots & garages

APN

49-03-20-120-045.000-600

APU

490320120045000600

Description

This exceptional investment opportunity presents a fee-simple interest in a 134,880-square-foot At Home furniture store located at 3015 W 86th St, Indianapolis, IN 46268. The property sits on a 13.99-acre lot and was built in 2019. Currently operating under a 15-year absolute NNN lease (commencing March 25, 2022, and expiring March 31, 2037), this single-tenant retail building offers a passive investment with approximately 12.4 years remaining on the lease term. The lease includes a significant advantage: 2% annual rent increases, ensuring consistent growth in cash flow. Four 5-year lease options further enhance the long-term stability and return on investment. The current asking price is $8,065,900, representing a price per square foot of $59.80 and a 10.00% cap rate. The property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $806,590. This is a single-story building situated in a dominant retail corridor, offering excellent visibility and accessibility. The property's location near the Ascension Hospital campus adds to its desirability. This is a truly passive investment asset with long-term cash flow potential. The property's strong tenant, built-in rent escalations, and prime location make it an attractive opportunity for discerning investors seeking a stable, high-return investment.

• CAP approach

  CAP return

  Valuation

  6%

  $45,861

  6.5%

  $42,334

  7%

  $39,310

• Comparable approach

  Method

  Valuation

  Relative Method

  $56,994

  Geo Method

  $56,994

• Alternative Use

  Use

  Valuation

  Residential

  $35,710

  Hospitality

  $32,710

  Educational

  $27,214

  Medical

  $28,150

  Retail

  $42,334

Location Insight

City

Indianapolis

County

Marion

State

Indiana

Latitude

39.9111

Longitude

-86.2144

CBSA code

26900

CBSA name

INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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