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REIT Sale | Target Shadow 50,107 SF Strip Center | $346K NOI | Double Digit Cap Rate

Market Price

10030 East Washington Street, Indianapolis, IN 46229

Active
Last Updated: 08/29/2024

346,540

NOI

50,157 sqft

Building Size

Details:
NOI:    $346,540
Building Size:    50,157 sqft
Lot Area:    5.25 acres
Occupancy:    100%
Year Built:    1976
Tenancy:    Multiple
Highlights:
  • 100% Occupied, 50,107 SF Prime Shopping Center Shadow-Anchored by Target Anchored Mall
  • Adjacent to Target, Kroger, Aldi, Marshalls, Best Buy, Ross, Five Below, Michaels, Harbor Freight, PetSmart, Bath & Body Works, CVS, and More
  • Excellent Investment Opportunity with $346,540 NOI
  • Located at Primary Intersection of E Washington St and N Mitthoefer Rd with Combined Traffic Counts of ± 45K VPD
  • Dense Suburban Demographics with ±55K Individuals (3-Mile Radius), ±143K Individuals (5-Mile Radius), & an AHHI of ±$71-82K (1 to 3-Mile Radii)
Description:

RI Marketplace Online Auction October 14-16, 2024
Register to bid on Marketplace:

https://rimarketplace.com/auction/2125/reit-sale-target-shadow-50-107-sf-strip-center-346k-noi-double-digit-cap-rate?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2125

Marcus & Millichap is pleased to offer for sale the fee simple interest in Washington Plaza, a ±50,107 square foot retail center located at 10030 E Washington Street in Indianapolis, Indiana (the "Property”). The Property presents a strong investment opportunity to purchase a Target shadow-anchored, 100% occupied shopping center within a dense Indianapolis submarket.

Washington Plaza is comprised of a 50,107 square foot building with 277 parking spaces on 5.25 acres. The Property is 100% occupied by local, regional, and national tenants including JOANN Fabrics and H&R Block. JOANN has had a successful operating history at the center since 2011. The Property benefits from positioning across from a Target anchored mall and within a major retail corridor. Nearby national tenants include Walmart, Kroger, Best Buy, Hobby Lobby, Chick-fil-A, LA Fitness, Aldi, and many others.

Located just outside the beltway in a thriving and growing Indianapolis community, the Property presents investors with a centrally located asset surrounded by dense residential communities in the middle of a busy retail corridor. The Property is situated just off E Washington Street, a major retail corridor within the submarket, and benefits from traffic counts of 34,000 vehicles per day. The Property serves a trade area that benefits from strong demographics with a population of 144,106 residents and an average household income of $69,381 within a 5-mile radius.

Bryan P. Jackson
c/o Fisher Auction Company Inc.
License: AU09100175

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