Indianapolis, IN - Wings Etc

1399 Shadeland Avenue, Indianapolis, IN

   SOLD!   

$1,445,000

Price

8%

Cap Rate

$120,000

NOI

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Street
Map
Overview
Cap Rate
8%
NOI
$120,000
Building Size
4,509 sqft
Occupancy
100%
Year Built
2017
Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Wings, Etc. investment property located in Indianapolis, Indiana. The tenant, Wings, Etc., will sign a brand new 10-year lease with 4 (5-year) option periods to extend at the close of escrow, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Wings, Etc. has 78 locations throughout the Midwest and the South, with plans for vigorous growth in the near future.

Wings, Etc. is located on the hard corner intersection of E 14th St and Shadeland Ave. (53,200 VPD). The subject site is also located near direct on and off ramp access to both Interstate 70 (112,200 VPD) and Interstate 465 (123,100 VPD). I-70 is a major east-west highway that runs from Utah to the east coast of Maryland, while I-465 is a major commuter highway that encircles the Indianapolis MSA. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Kroger, CVS, The Home Depot, Lowe’s Home Improvement, ALDI and more. Strong surrounding tenant synergy promotes crossover shopping to the site. Wings, Etc. is located near numerous multifamily housing complexes, including Serenity Manor (496 units), Charleston East Apartments (188 units), and Pangea Vistas Apartments (252 units), providing a nearby, direct consumer base from which to draw. The 5-mile trade area is supported by strong demographics including over 184,100 residents and 178,000 employees. The surrounding 1-mile household income is an affluent $116,533.

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Listing ID: a288X0000065yzlQAA
Location
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