Highlights
• Prime location on Meridian Street in Downtown Indianapolis • Situated in the rapidly growing St. Joseph Historic Neighborhood • Strong local economy with expanding corporate presence • Secure, inflation-resistant NNN leases providing stable cash flow • Future upside through value-add leasing opportunities and potential outlot development
Description
This Core+ investment opportunity features a two-tenant NNN property with approximately 2,690 SF available for lease, providing additional upside potential. Both tenants recently executed early lease renewals, resulting in a weighted average lease term (WALT) of 5.84 years. Attractive financing options are also available.
Listing Details
- Cap Rate
7.5%
- Tenancy
Multi
- Space Type
retail
- Sub Category
bank
- Sale Type
Investment Sale
- Date Listed
9/3/2025
- Investment Type
Net Lease
- Net Operating Income
$232,546
- Brand Info
KeyBank
- Parking Info
57 Spaces (4.06 Spaces per 1,000 SF Leased)
- Building FAR
0.37
Property Specifics
- Property Name
940 N Meridian St
- Property Class
B
- No of Buildings
1
- No of Stories
2
- Year Built
1980
- Building Size
14,038 SF
- Lot Size
0.88 AC
- Year Renovated
2018
- APN
49-11-01-175-005.000-101
- Zoning
CBD-1
- Occupancy
100%
Property Amenities
Unit Amenities
Air Conditioning
Natural Light
Onsite Parking
Location Amenities
Airport
Coffee shops
Commuter Rail
Convenience Store
Public Transportation