Zionsville, IN - Kroger

10679 N Michigan Rd, Zionsville, IN

$18,609,000

Price

5.75%

Cap Rate

$1,070,000

NOI

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Map
Overview
Cap Rate
5.75%
NOI
$1,070,000
Building Size
65,181 sqft
Description

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade, freestanding, Kroger investment property located in Zionsville, IN (Indianapolis MSA). Kroger has an extensive historical occupancy of 17+ years with an additional 13 years remaining on lease demonstrating their commitment to the site. The lease features 7% rental increases every 5 years throughout the initial term, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB) and is absolute NNN, making it an ideal, management-free investment opportunity for a passive investor.

Kroger is strategically located along North Michigan Road with clear visibility and access to an average of 51,000 vehicles passing by daily. The asset also benefits from nearby access to Interstate 465 (123,000 VPD). Kroger is ideally situated within a dense retail trade area and is within proximity to West Carmel Marketplace (525K+ SF), Traders Point (432K+ SF), College Park Plaza (538K+ SF), and other major shopping centers. In addition, the property is near numerous single-family communities and multi-family complexes, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 124,500 residents and 133,100 daytime employees, with residents boasting an affluent average household income of $151,849.

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Listing ID: a28TP000000CR9JYAW
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