4404 Georgetown Rd
Indianapolis, IN 46254
Ziebart & Tire Barn · Retail Property For Sale

Marcus & Millichap is pleased to present for sale Ziebart & Tire Barn, a 12,456-square foot, two-tenant net-leased investment in Indianapolis, Indiana. The building is situated on 1.08 acres of prime real estate at the hard-corner of Georgetown Road and Lafayette Road. The subject property is located near a Walmart Supercenter, in the heart of a major retail and auto service corridor, just one quarter of a mile from the Lafayette Square Mall and near Interstate 65, which experiences over 75,000 vehicles-per-day. Constructed in 1997, Ziebart & Tire Barn have had long-term historical occupancy at the subject site and have exercised multiple renewal option periods. The rental rate of $12 per square foot annually is competitive in the submarket and provides an incoming investor a sustainable income scream with future rental rate growth opportunities. Both leases are triple-net with landlord’s only responsibilities being structure, walls, and foundation. The roof has previously been replaced and is the responsibility of the tenants. Both tenants have long-term leases in place through December 31, 2022, with renewal option periods, thereafter. Both tenants have escalators within the term of the respective leases which should grow the income stream over the investment holding period. Tire Barn is a corporate operator. Owned by Monroe Muffler Brake (NASDAQ: MNRO), the public company operates over 1,000 company-owned stores in 25 states and provides their customers with superior maintenance and repair services, quality replacements parts and named brand tires at affordable prices. Ziebart is a multi-unit franchisee operator. Ziebart is the worldwide leader in appearance and protection services, providing complete car care solutions to their customers via a worldwide network of approximately 400 franchise locations and 800 Ziebart Service Centers in 32 countries.