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2-Tenant Corporate-Backed Investment 10695 E US Highway 36 50,233 SF 100% Leased Retail Building Avon, IN 46123 $14,069,197 CAD ($280.08 CAD/SF) 7.50% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Prime Location: Located at the 50-Yard Line of one of the Most Highly Sought After Retail Corridors in Indianapolis
  • 10+ Year WALT to Best-in-Class Retailers PetSmart & Bob’s Furniture
  • At Entrance to 100% Occupied, 463,000 SF, Raceway Plaza Shopping Center

EXECUTIVE SUMMARY

Pegasus Investments Real Estate Advisory Inc., as exclusive advisor to seller, is pleased to present the rare opportunity to purchase a strategically located, two-tenant net leased investment property spanning 50,000 square feet of GLA on a large, 5.24-acre lot in the extremely desirable Avon submarket of Indianapolis, Indiana (the “Property”). The Property is strategically located at the 50-year line of the region’s dynamic Rockville Road retail corridor, providing prime visibility to 45,000 vehicles per day. The corridor features major retail tenancy including Target, Walmart Supercenter, Lowe’s Home Improvement, Kroger Grocery and a newly developed 160,000 square foot Costco Wholesale anchored shopping center. Additionally, the Property is located at the signalized entrance of Raceway Plaza, a 100% occupied, 463,000 square foot shopping center anchored by a 205,000 square foot Meijer grocery store and a garden-center equipped, 160,000 square foot Menard’s home improvement store, both of which corporately own their own real estate.
The Property features credit rated, industry leading tenancy from Bob’s Discount Furniture (S&P: “B”), the #8 ranked furniture store in the U.S. per Forbes and PetSmart (S&P: B+), the largest pet supply company in the U.S. Each tenant is secured by long-term, corporate, 10-year and 12-year leases respectively, with scheduled rent increases throughout their lease terms.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
50,233 SF
Building Class
B
Year Built
2008
Price
$14,069,197 CAD
Price Per SF
$280.08 CAD
Cap Rate
7.50%
NOI
$1,055,147 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
5.24 AC
Zoning
C - Commercial
Parking
223 Spaces (4.44 Spaces per 1,000 SF Leased)
Frontage
350’ on Rockville Road

AMENITIES

  • 24 Hour Access
  • Signage
  • Signalized Intersection

NEARBY MAJOR RETAILERS

StretchLab
Fifth Third Bank
Steak ‘n Shake
Olive Garden
Portillo's
Bj's Restaurant & Brewhouse
On The Border
PNC Bank
Starbucks
Five Guys

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
32-09-08-202-002.000-031
Land Assessment
$2,503,394 CAD
Improvements Assessment
$4,878,291 CAD
Total Assessment
$7,381,685 CAD
  • Listing ID: 35507478

  • Date on Market: 2025-04-16

  • Last Updated:

  • Address: 10695 E US Highway 36, Avon, IN 46123

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