Advance Auto Parts | Recession-Proof Tenant | 4105 E Washington St
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Advance Auto Parts | Recession-Proof Tenant 4105 E Washington St
7,000 SF Retail Building Indianapolis, IN 46201 $1,140,027 ($163/SF) 7.20% Cap Rate
Investment Highlights
- Tenant Just Showed Commitment to Site by Extending the Lease with a 20% Rental Increase | ~5 Years Remaining on NN Lease with Corporate Guaranty
- 4.5 Miles from Indianapolis City Center | 2 Miles from I-70 (130,240 VPD) | 5-Mile Daytime Population is 385,931
- Below-Market Rent | Recession-Proof Tenant
Executive Summary
~5 Years Remaining on NN Lease with Corporate Guaranty | One Five-Year Option Remaining | Tenant Just Showed Commitment to Site by Extending the Lease with a 20% Rental Increase
Below-Market Rent | Recession-Proof Tenant
Four and a Half Miles from Downtown Indianapolis | Frontage on E Washington Street Near the Signalized Intersection at Sherman Drive (Combined VPD 30,140) | Located in Dense Residential Area with a Five-Mile Population of 241,727 and Five-Mile Daytime Population of 385,931 | Two Miles from I-70 (130,240 VPD)
Nearby Retailers Include Save A Lot, CVS Pharmacy, Citgo, Popeye’s, Taco Bell, Dollar Tree, Wendy’s, Ross Dress For Less, Kroger, Little Caesars Pizza, Subway, GameStop, Wingstop, Hardee’s and White Castle | Near New USPS “Mega-Center”, a 1.2 Million Square Foot Mail Distribution Facility
Near 16-Acre Irvington Plaza Redevelopment – Being Considered as the Site of the New Indiana Sports Hall of Fame
One Mile From the New Marion County Community Justice Center with 2,000 Employees | 140-Acre, $590 Million Redevelopment Featuring New Courts, a New Assessment and Intervention Center, New Sheriff’s Office, and a Jail Complex, Also the Relocation Site for the Marion County Public Defender Agency
Indianapolis is the 16th Largest City in the United States | 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 | Eli Lilly Invested $3.7 Billion in a Manufacturing Facility, Bringing over 2,500 New Jobs
Below-Market Rent | Recession-Proof Tenant
Four and a Half Miles from Downtown Indianapolis | Frontage on E Washington Street Near the Signalized Intersection at Sherman Drive (Combined VPD 30,140) | Located in Dense Residential Area with a Five-Mile Population of 241,727 and Five-Mile Daytime Population of 385,931 | Two Miles from I-70 (130,240 VPD)
Nearby Retailers Include Save A Lot, CVS Pharmacy, Citgo, Popeye’s, Taco Bell, Dollar Tree, Wendy’s, Ross Dress For Less, Kroger, Little Caesars Pizza, Subway, GameStop, Wingstop, Hardee’s and White Castle | Near New USPS “Mega-Center”, a 1.2 Million Square Foot Mail Distribution Facility
Near 16-Acre Irvington Plaza Redevelopment – Being Considered as the Site of the New Indiana Sports Hall of Fame
One Mile From the New Marion County Community Justice Center with 2,000 Employees | 140-Acre, $590 Million Redevelopment Featuring New Courts, a New Assessment and Intervention Center, New Sheriff’s Office, and a Jail Complex, Also the Relocation Site for the Marion County Public Defender Agency
Indianapolis is the 16th Largest City in the United States | 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 | Eli Lilly Invested $3.7 Billion in a Manufacturing Facility, Bringing over 2,500 New Jobs
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$82,082
|
$11.73
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $82,082 |
| Annual Per SF | $11.73 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,000 SF
Building Class
C
Year Built/Renovated
1999/2010
Price
$1,140,027
Price Per SF
$163
Cap Rate
7.20%
NOI
$82,082
Tenancy
Single
Building Height
1 Story
Slab To Slab
15’
Building FAR
0.19
Lot Size
0.86 AC
Zoning
C-1
Parking
40 Spaces (5.71 Spaces per 1,000 SF Leased)
Frontage
177 FT on E Washington St
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 49-10-04-115-001.000-101 | Improvements Assessment | $337,600 |
| Land Assessment | $86,500 | Total Assessment | $424,100 |
PROPERTY TAXES
Parcel Number
49-10-04-115-001.000-101
Land Assessment
$86,500
Improvements Assessment
$337,600
Total Assessment
$424,100
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Advance Auto Parts | Recession-Proof Tenant | 4105 E Washington St
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