Property details
Valvoline Ground Lease, Great Lakes - Big Rivers Region
Property Description
Free Standing Valvoline situated on an outparcel to a Marketplace
New 15-yr corporate ground lease guaranteed by Valvoline Inc. (NYSE: VVV)
Attractive 10% Increases every 5 years and 10% Increases in each option period
Acres: 0.98
GLA: 2,077 SF
Under Construction as of 8/13/2020
LOCATION
Located on a rapidly developing Retail Corridor Road that serves two affluent communities
Excellent visibility and multiple access points through the Marketplace
25 minute drive to Downtown Indianapolis
NEARBY RETAILERS:
Super Target | Marshalls | Home Goods | Petco | Office Max | Best Buy | Kohl’s | Home Depot | Mattress Firm | Visionworks | Prime Car Wash | Jimmy John’s | Olive Garden | Starbucks
TRAFFIC COUNTS:
US Highway: 51,332 ADT
Major Interstate Highway: 131,123 ADT
Prominent Suburban Development: The immediate area surrounding the property has recently been improved with retail and residential multi-family
projects adding a 218-unit apartment complex and multi-tenant retail centers.
Affluent Demographics: The property benefits from its location within one of Indianapolis’ most affluent suburbs featuring 5-mile
average household incomes exceeding $121,000 per year and a population of 138,000.
Marketplace Outparcel: The subject is situated on the outparcel to one of the main centers in the major retail corridor.
Traffic Counts US 421 & I-465: The property is strategically located off a major Interstate Highway which carries average traffic counts of 131,000 VPD. Additionally, the US Highway is a major north-south corridor through the area carrying an additional 51,000 VPD.
0.98 Acre Parcel: Being located in an area experiencing significant development, the investor will benefit from owning a prime 0.98 acre parcel at one of the key sites in the submarket.
Images
Highlights
- Status:
- Available
- Price:
- $1,800,000
- PSF:
- $867
- Cap Rate:
- 5.00%
- Annual Rent:
- $90,000
Property Information
- Building Size:
- 2,077 sq.ft.
- Property Type:
- Ground Lease
- Industry Type:
- Retail
- Units/Spaces:
- 1
- Year Built:
- 2020
- Land Area:
- 0.98 acres
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.