KeyBank NNN Ground Lease
Indianapolis, IN
Price: $1,900,000Cap Rate: Building SF: 2,670 SFLot Size: .54 acresYear Built: 2005Status: Closed
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Investment Highlights: 

 

INVESTMENT GRADE TENANT  Key Bank’s absolute NNN ground lease is backed by Key Bank N.A. (S&P: A-) which operates over 1,000 branches in 12 states in the Midwestern United States.

STRONG DEPOSITS The subject property’s deposits amount of $14.5 million ranks fourth out of the 15 Key Bank branches in Indianapolis.

EXCELLENT VISIBILITY The subject property sits on a hard corner with great visibility from North College Avenue which sees over 24,000 cars per day.

HIGH BARRIERS TO ENTRY With a majority of the Uptown submarket built out it would be very difficult for Key Bank to relocate in the area. In fact, almost all of the development in the area has been the redevelopment of old space.

STEADY RENT GROWTH The subject property benefits from 10% rent increases every five years including in the two (2) five year option periods.

SUPERB DEMOGRAPHICS Within just a three mile radius there are over 82,000 people with an average household income of over $81,000.

 

 

 


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977