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The Nest Schools 17313 Spring Mill Rd 11,275 SF 100% Leased Retail Building Westfield, IN 46074 $8,711,696 CAD ($772.66 CAD/SF) 7% Cap Rate
Investment Highlights
- Brand-new 15-year lease featuring 2% annual rental increases
- Lease is guaranteed by tenant’s ultra-high net worth founder (contact Agent for more details)
- Very strong guarantor – Nine-figure net worth
- Three, 5-year options to extend the lease at increased rents
- Brand-new building delivered in 2023 with new roof that has 15-year warranty in place
- Adjacent to heavily trafficked Meijer location – ranked in the top 2% of grocery stores nationwide in terms of annual visits per Placer.ai
Executive Summary
A 2023 construction Nest School located in Westfield – an explosive growth Indianapolis submarket with substantial population increases projected within a 1, 3, and 5-mile radius of the subject property over the next five years. The tenant just signed a 15-year corporate lease featuring 2% annual rental increases that is backed by an ultra-high net worth guarantor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,275 SF
Building Class
C
Year Built
2023
Price
$8,711,696 CAD
Price Per SF
$772.66 CAD
Cap Rate
7%
NOI
$609,832 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.22
Lot Size
1.20 AC
Somewhat walkable
30/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 29-09-02-000-001.201-015 | Improvements Assessment | $2,494,102 CAD |
| Land Assessment | $597,835 CAD | Total Assessment | $3,091,937 CAD |
Property Taxes
Parcel Number
29-09-02-000-001.201-015
Land Assessment
$597,835 CAD
Improvements Assessment
$2,494,102 CAD
Total Assessment
$3,091,937 CAD
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The Nest Schools | 17313 Spring Mill Rd
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