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$3,780,000
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| | Percent Occupied | 100.00 % | |
| | GLA | 21,125 | |
| | Building S.F. | 21,125 | |
| | Land Acres | 4.10 | |
| | Cross Street | Emerson | |
| | Tax Parcel Number | 3-001237 | |
| | Market | Indianapolis | |
| | Sub Market | Southeast | |
| | No. Stories | 1 | |
| | Parking Ratio | 1 space/180 sq. ft. | |
| | Occupancy | 100.00 % | |
| | No. of Parking Spaces | 117 | |
| | No. of Buildings | 2 | |
| | Year Built | 2000 | |
| | No.Tenants | 6 | |
| | Building Class | B | |
| | Location Class | B | |
| | Zoning Type | C-3 | |
| | Corner | No | |
| | Street Frontage | Yes | |
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5202 East Thompson Rd. Indianapolis, IN 46237
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Property Description
The 4.10 acre site has been developed with a 16,250 sq.ft. multi-tenant building and a 4,875 square foot single tenant retail building. There are 117 stripped parking spaces with a parking ratio of 5.54 per 1,000 square feet. There is approximately one acre of excess ground at the northeast corner of the site and a retention area at the northwest corner of the site. The property was built in 2000 and is in excellent condition with no deferred maintenance.
All leases in place have at least 3 years remaining and Seller will master lease vacant space for two years at $19.00/SF plus pass-thrus. For favorable offers, seller will consider escrowing master lease rents. Closing must be before the end of the year.
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Location Description
The subject neighborhood is best described as Franklin Township. Most land area along Emerson and Thompson are commercial with some residential uses . The uses near the subject for the most part are intense commercial uses of retail. The area demographic are excellent with continued growth. Subject rents are in-line with market and occupancy has been stable since the development was completed.
There has been significant development in the area with Wal-Mart recently being completed and the announcement of Franklin Terrace development immediately to the north. Franklin Terrace has proposed additional road network.
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