McKenzie Plaza | Indianapolis, IN MSA | 1222-1346 N State St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
McKenzie Plaza | Indianapolis, IN MSA 1222-1346 N State St
84,056 SF 100% Leased Retail Building Greenfield, IN 46140 $13,850,000 ($165/SF) 8.10% Cap Rate
Investment Highlights
- 93.77% Occupied Neighborhood Shopping Center | Indianapolis, IN MSA | 23 Miles from Indianapolis City Center
- Value Add Components: Leasing up the Vacant Space, Increasing the Below Market Rents Over Time, and Converting Remaining Gross Leases to NNN
- Four Buildings Total with Newly Developed Outparcel Buildings: AT&T (2016), Jimmy John's and Don Rigo (2015), McAlister's Strip Center (2023)
Executive Summary
-93.77% Occupied Neighborhood Shopping Center with Service, Retail, and Restaurant Tenant Mix | 23 Miles from Indianapolis City Center | Half Mile from I-70 (52,860 VPD)
-Anchored by Corporately Owned Great Lakes Ace Hardware | Site Offers Three Drive-Thrus and Don Rigo has a Patio
-Newly Developed Outparcel Buildings: AT&T (2016), Jimmy John’s and Don Rigo (2015), McAlister’s Strip Center (2023)
-Located at the Signalized Intersection on the Main Retail Artery of Greenfield, IN | High Traffic Corridor with 25,839 Cars Per Day | Site Benefits from Oversized Pylon Sign Located at Main Entrance | Six Points of Ingress/Egress
-Significant, Recent Capital Expenditures Made by Landlord – Brand New Anchor Redevelopment and McAlister’s Strip Center | Ace Hardware’s Roof was Replaced in 2022 | The Ace Hardware Building, AT&T and Jimmy John’s Center All have 20-Year Roof Warranties | McAlister’s Center has a 10-Year Roof Warranty
-Value Add Components: Leasing Up the Vacant Space, Increasing the Below Market Rents Over Time, and Converting Remaining Gross Leases to NNN
-Strong Performing Retailers: The Nearby Kroger Ranks 88% Nationwide in Visits |In Indiana, Home Depot Ranks 95%, Starbucks Ranks 94% Chick-Fil-A Ranks 97%, Walmart Ranks 95%, Planet Fitness Ranks 84%, Cracker Barrel Ranks 92%, Tractor Supply Ranks 84% in Foot Traffic (Placer.AI)
-In McKenzie Plaza, McAlister’s Deli Ranks 88% and Aaron’s Ranks 87% Nationwide in Foot Traffic (Placer.AI)
-Part of the Indianapolis MSA with over 2.1 Million Residents | Indianapolis is the 16th Largest City in the US | | Indiana was Ranked as the Best State to Start a Business by Forbes in 2023 | Venture Investments in the Indianapolis MSA Surpassed $1 Billion for the Second Consecutive Year in 2023
-Anchored by Corporately Owned Great Lakes Ace Hardware | Site Offers Three Drive-Thrus and Don Rigo has a Patio
-Newly Developed Outparcel Buildings: AT&T (2016), Jimmy John’s and Don Rigo (2015), McAlister’s Strip Center (2023)
-Located at the Signalized Intersection on the Main Retail Artery of Greenfield, IN | High Traffic Corridor with 25,839 Cars Per Day | Site Benefits from Oversized Pylon Sign Located at Main Entrance | Six Points of Ingress/Egress
-Significant, Recent Capital Expenditures Made by Landlord – Brand New Anchor Redevelopment and McAlister’s Strip Center | Ace Hardware’s Roof was Replaced in 2022 | The Ace Hardware Building, AT&T and Jimmy John’s Center All have 20-Year Roof Warranties | McAlister’s Center has a 10-Year Roof Warranty
-Value Add Components: Leasing Up the Vacant Space, Increasing the Below Market Rents Over Time, and Converting Remaining Gross Leases to NNN
-Strong Performing Retailers: The Nearby Kroger Ranks 88% Nationwide in Visits |In Indiana, Home Depot Ranks 95%, Starbucks Ranks 94% Chick-Fil-A Ranks 97%, Walmart Ranks 95%, Planet Fitness Ranks 84%, Cracker Barrel Ranks 92%, Tractor Supply Ranks 84% in Foot Traffic (Placer.AI)
-In McKenzie Plaza, McAlister’s Deli Ranks 88% and Aaron’s Ranks 87% Nationwide in Foot Traffic (Placer.AI)
-Part of the Indianapolis MSA with over 2.1 Million Residents | Indianapolis is the 16th Largest City in the US | | Indiana was Ranked as the Best State to Start a Business by Forbes in 2023 | Venture Investments in the Indianapolis MSA Surpassed $1 Billion for the Second Consecutive Year in 2023
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Retail
Building Size
84,056 SF
Building Class
B
Year Built/Renovated
1988/2024
Price
$13,850,000
Price Per SF
$165
Cap Rate
8.10%
NOI
$1,121,850
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
7.71 AC
Zoning
C - Commercial
Parking
11 Spaces (0.13 Spaces per 1,000 SF Leased)
Frontage
224 FT on North State Street
Amenities
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,516,700 | |
| Land Assessment | $2,320,900 | Total Assessment | $5,837,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,320,900
Improvements Assessment
$3,516,700
Total Assessment
$5,837,600
1 of 4
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
McKenzie Plaza | Indianapolis, IN MSA | 1222-1346 N State St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.