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NNN Leased Bank Branch & 0.50+/- Parcel 940 N Meridian St

14,038 SF 100% Leased Retail Building Indianapolis, IN 46204 £2,863,767 (£204/SF)

Investment Highlights

  • PRIME LOCATION IN DOWNTOWN INDIANAPOLIS
  • MARKET DYNAMICS AND RENTAL GROWTH POTENTIAL
  • THRIVING ECONOMY AND GROWING CORPORATE PRESENCE
  • INFLATION-PROOF NNN LEASES AND STABLE CASH FLOW
  • FUTURE VALUE-ADD LEASING + OUTLOT DEVELOPMENT

Executive Summary

The KeyBank building, located at 930 North Meridian, with on-site parking, is a two-story, 14,038 square foot building in excellent condition which is 81% occupied by KeyBank and MSKTD & Associates on NNN leases with the remaining 19% of the 1st floor retail space available for lease. The building was originally built in 1980 with extensive renovations in 1996 and 2018. KeyBank recently renewed its lease for an additional five years through 2/25/2030 and the MSKTD lease is pending renewal through 6/30/2031. The building offers significant upside potential in the lease up of attractive first floor space which has historically been used for storage. This highly desirable property has a rare two-lane
drive-through in the CBD and offers an opportunity to add an additional drive-through on the outparcel.

Attachments

KeyBankBuilding-BRO-Link

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Retail
Building Size
14,038 SF
Building Class
B
Year Built/Renovated
1980/2018
Price
£2,863,767
Price Per SF
£204
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.37
Lot Size
0.88 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
CBD-1
Parking
57 Spaces (4.06 Spaces per 1,000 SF Leased)

Links

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Walk Score ®
Very Walkable (85)
Bike Score ®
Biker's Paradise (98)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

Nearby Major Retailers

Regions Bank
Cross Fit Naptown
YMCA
Kroger
Starbucks
Pure Barre
Club Pilates
Old National Bank
Needler's Fresh Market
World of Beer

PROPERTY TAXES

Parcel Number 49-11-01-175-005.000-101 Improvements Assessment £365,169
Land Assessment £661,640 Total Assessment £1,026,809

PROPERTY TAXES

Parcel Number
49-11-01-175-005.000-101
Land Assessment
£661,640
Improvements Assessment
£365,169
Total Assessment
£1,026,809
(317) 726-7305

Contacts

  • Listing ID: 33909586

  • Date on Market: 18/11/2024

  • Last Updated:

  • Address: 940 N Meridian St, Indianapolis, IN 46204

The Retail Property at 940 N Meridian St, Indianapolis, IN 46204 is currently available for sale. Contact Cushman & Wakefield for more information.

Retail PROPERTIES IN NEARBY NEIGHBOURHOODS

Nearby Listings

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940 N Meridian St, Indianapolis, IN for sale Primary Photo- Image 1 of 8
Primary Photo
940 N Meridian St, Indianapolis, IN for sale Building Photo- Image 2 of 8
Front w Drive-Through
940 N Meridian St, Indianapolis, IN for sale Building Photo- Image 3 of 8
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940 N Meridian St, Indianapolis, IN for sale Building Photo- Image 4 of 8
Interior
940 N Meridian St, Indianapolis, IN for sale Building Photo- Image 5 of 8
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940 N Meridian St, Indianapolis, IN for sale Building Photo- Image 6 of 8
Interior
940 N Meridian St, Indianapolis, IN for sale Building Photo- Image 7 of 8
Location Map

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© 2024 CoStar Group

NNN Leased Bank Branch & 0.50+/- Parcel | 940 N Meridian St
(317) 726-7305 x

NNN Leased Bank Branch & 0.50+/- Parcel | 940 N Meridian St

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Rebecca Wells

(317) 726-7305

(317) 726-7305

John Crisp

(317) 590-7444

(317) 590-7444

Spud Dick

(317) 639-0477

(317) 639-0477

Jimmy Grund

(317) 616-4025

(317) 616-4025

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