1300 Block 1302 Main St

Marcus & Millichap is pleased to exclusively present for your acquisition review 1300 Block Main Street located in Speedway, IN. The brand-new 8,600+ square foot building is positioned along Main Street in Indianapolis. Speedway has quickly grown into a popular destination for the local population and regional visitors alike. The building lies in the shadow of the Indianapolis Motor Speedway, home of The Greatest Spectacle in Racing: the Indy 500. During this event, Main Street will see more than a quarter of a million visitors. Main Street is home to several racing industry headquarters, Prax Air, Big Woods, Charlie Brown’s, and many other local favorites. The delivery of several apartment buildings along main street will continue to increase the need for retail and office demand in the area. The property is 100 percent occupied by B. Erin Designs LLC, Le Peep, and The Bev Shop by Big Red Liquors. All three tenants signed fresh ten-year leases, which commenced on May 1, 2023, leaving more than nine and a half years of lease term remaining for each tenant. B.Erin Designs has a rent increase in year three and in year seven of their base term. Le Peep and The Bev Shop by Big Red Liquors both have rent increases in year six of their base terms. The rent increases provide rent growth and a strong hedge against potential inflation. The leases are triple net, with each tenant being financially responsible for their pro rata share of all common area maintenance, real estate taxes, insurance and a
partial administration fee reimbursement as well. The Home Owners Association is responsible for the management of all common area maintenance, offering a future landlord a passive, relatively hands-free investment. Le Peep and The Bev Shop by Big Red Liquors are two tenants that have been very popular in the Indianapolis area for 20+ years. Le Peep is a breakfast, brunch, and lunch restaurant that has been voted the #1 breakfast & brunch restaurant by the Dallas Observer, Denver Post, Denver Rocky Mountain News, Houston Post, Dallas Morning News, Indianapolis Star, and more. Le Peep can be found in Colorado, Florida, Idaho, Illinois, Indiana, Missouri, north Carolina,
Nebraska, New Jersey, Ohio, South Carolina, Tennessee, and Texas. The Bev Shop by Big Red Liquors has been offering the finest wine, beer, and spirits in Indiana since 1972. This location will be one of 20+ locations in Indiana.