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The Learning Experience 1565 Smokey Row 10,000 sq ft Retail Property Greenwood, IN 46143 £3,792,512 (£379.25/sq ft) 7.15% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Tenant is Responsible For Common Area Maintenance, Property Taxes, Insurance, HVAC & Parking Lot
- 11% Rental Increases Every 5 Years and Each Renewal Option
- 20 Year Base Lease Term with Two, Five-Year Options to Renew
EXECUTIVE SUMMARY
The Klink Group of Marcus & Millichap is pleased to present for sale The Learning Experience located in the city of Greenwood, Indiana, an affluent Indianapolis suburb experiencing tremendous growth. The Property features a brand-new, 20-year passive lease that commenced in May of 2023 and offers 11% rental escalators every five years throughout the base term and renewal option periods.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Property Size
10,000 sq ft
Costar Property Class
B
Year Built
2023
Price
£3,792,512
Price per sq ft
£379.25
Yield
7.15%
NOI
£271,161
Tenancy
Single
Number of Floors
1
Plot ratio
0.22
Total Plot Size
1.05 ac
Use Class
C-1 - Commercial Retail
Parking
32 Spaces (3.2 Spaces per 1,000 sq ft Leased)
Frontage
219 ft on West Old South Street
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE TYPE
- LEASE END
- The Learning Experience
- Educational Services
- 10,500 sq ft
- £27.12
- Double Net
- -
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE TYPE | LEASE END | |
| The Learning Experience | Educational Services | 10,500 sq ft | £27.12 | Double Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 41-04-24-022-015.000-040 | Improvements Assessment | £828,742 |
| Land Assessment | £325,991 | Total Assessment | £1,154,734 |
PROPERTY TAXES
Parcel Number
41-04-24-022-015.000-040
Land Assessment
£325,991
Improvements Assessment
£828,742
Total Assessment
£1,154,734
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The Learning Experience | 1565 Smokey Row
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