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KFC DARK LOCATION REHAB 903 E Hanna Ave
2,610 SF of Retail Space Available in Indianapolis, IN 46227
Highlights
- 1/4 mile from the University of Indianapolis
- New 20-25 year Absolute NNN lease
- Renovation in process
- Dark KFC Location
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 2,610 SF | 20 Years | $29.40 /SF/YR $2.45 /SF/MO $316.46 /m²/YR $26.37 /m²/MO $6,395 /MO $76,734 /YR | Triple Net (NNN) |
1st Floor
Formerly a KFC drive thru (25 years). QSR is located 1/4 Mile or less from the University of Indianapolis with over 5,500 main campus students and across the street from a LARGE Government Building. This will be an absolute NNN lease. Built in 1991, renovated in 2010, and currently undergoing renovation with a NEW roof, reconditioned parking lot, HVAC, Refrigeration, Electrical, plumbing and new hood allowance is negotiable. Building will undergo major clean up, power wash, interior and exterior paint, and bathroom upgrades as needed to comply with new codes and curb cut ramp for ADA entry compliance. Building will be delivered as is with current counters, or lessor and lessee can deliver shell. The location is perfect for a Regional or National QSR chain with landlord willing to deliver a vanilla shell. The lot is 40,946 square feet and is strategically positoned near the major intersection of E Hanna Ave and Madison Ave. 1/4 mile from Southgate Plaza shopping center and close proximity to I-465 & I-65 highways. Building delivery may be 10-12 months or longer depending on permits and weather. Introductory rate of $2.45 per square foot year one with a 4% annual increase. Agent is Asset Manager S & R Indy LLC. This will be a direct master lease with building ownership.
- Lease rate does not include utilities, property expenses or building services
- Partially Built-Out as a Fast Food Restaurant
- Kitchen
- Private Restrooms
- Drive Thru
- Drive Thru
- Absolute NNN 20-25 year
- Renovations Roof & Parking Lot
- Hood renovation based on tenant
- Walk In refrigeration
- Landlord to Paint based on tenant color scheme
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 903 E Hanna Ave , Indianapolis, IN 46227
| Property Type | Retail | Year Built | 1991 |
| Property Subtype | Fast Food | Parking Ratio | 10/1,000 SF |
| Gross Leasable Area | 2,610 SF |
| Property Type | Retail |
| Property Subtype | Fast Food |
| Gross Leasable Area | 2,610 SF |
| Year Built | 1991 |
| Parking Ratio | 10/1,000 SF |
About the Property
Strategically positoned near the major intersection of E Hanna Ave and Madison Ave. 2610 square feet sitting on just under 1 acre lot. New Roof, Renovated Parking Lot, ADA curb cuts. The 903 E Hanna Building is formerly KFC. Now Dark. The property will undergo a complete renovation including New AirConditioning, New Refrigeration, New Roof, Rehab Parking Lot with ADA ramp, Re-outfitted bathrooms, all new electrical, t-bar ceilings, and paint.
- Restaurant
- Security System
- Drive Thru
Nearby Major Retailers
-
Randall Barondess -
RE/MAX ONE
Presented by
KFC DARK LOCATION REHAB | 903 E Hanna Ave
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