The Learning Experience 1565 Smokey Row
10,000 SF Retail Building Greenwood, IN 46143 $5,070,000 ($507/SF) 7.15% Cap Rate
INVESTMENT HIGHLIGHTS
- Tenant is Responsible For Common Area Maintenance, Property Taxes, Insurance, HVAC & Parking Lot
- 11% Rental Increases Every 5 Years and Each Renewal Option
- 20 Year Base Lease Term with Two, Five-Year Options to Renew
EXECUTIVE SUMMARY
The Klink Group of Marcus & Millichap is pleased to present for sale The Learning Experience located in the city of Greenwood, Indiana, an affluent Indianapolis suburb experiencing tremendous growth. The Property features a brand-new, 20-year passive lease that commenced in May of 2023 and offers 11% rental escalators every five years throughout the base term and renewal option periods.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,000 SF
Building Class
B
Year Built
2023
Price
$5,070,000
Price Per SF
$507
Cap Rate
7.15%
NOI
$362,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.05 AC
Zoning
C-1 - Commercial Retail
Parking
32 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
219’ on West Old South Street
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- The Learning Experience
- Educational Services
- 10,500 SF
- $36.25
- Double Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| The Learning Experience | Educational Services | 10,500 SF | $36.25 | Double Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 41-04-24-022-015.000-040 | Improvements Assessment | $846,000 |
| Land Assessment | $435,800 | Total Assessment | $1,281,800 |
