Emerson Square 5050 E 38th St

The Klink Group of Marcus & Millichap is pleased to present for sale Emerson Square, a 7,580-square foot neighborhood retail shopping center in an infill location within Indianapolis.
Emerson Square sits along East 38th Street which is a dense east and west thoroughfare of Indianapolis. The property also sits along the new IndyGo bus line that is nearing completion and will total $188 million dollars of infrastructure improvement to this busy retail artery. There is a newly constructed bus platform immediately in front of the property giving access to residents and customers that will utilize this new transit infrastructure.
Emerson Square is currently 100% occupied by a synergistic mix of internet resistant tenants: hair salons/barbershop, smoke shop & a food shop. The current tenants all operate under net leases; reimbursing for their pro-rata share of operating expenses, significantly minimizing landlord expense exposure. The landlord recently invested money into improving the property by replacing the roof in 2023. The Property is located just north of downtown Elkhart and caters to the +/-90,000 residents within a 3-mile radius.
The offering is the perfect investment opportunity for any incoming investor looking for infill real estate within a major metro location with strong intrinsic real estate fundamentals of $127 PSF and rents averaging less than $12PSF.