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940 N Meridian St
Indianapolis, IN 46204
Available Now
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FOR SALERetail / Bank
Cap Rate
7.5%
NOI
$232,546
Building Size
14,038SF
Lot Size
0.88AC
Year Built
1980
Year Renovated
2018
Listing Contacts
More property details
Parking Info
57 Spaces (4.06 Spaces per 1,000 SF Leased)
APN
49-11-01-175-005.000-101
Occupancy
100%
Tenancy
Multi Tenant
Currently Leased
No
Investment
Net Lease
Sale Type
Investment Sale
Brand
KeyBank
Building FAR
0.37
Property Class
B
No of Buildings
1
No of Stories
2
Features & amenities
Unit Amenities
Air Conditioning
Onsite Parking
Natural Light
Location Amenities
Public Transportation
Airport
Commuter Rail
Coffee shops
Convenience Store
Location
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940 N Meridian St
About the location
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.
Location 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