University Shoppes
4155 S. East Street Indianapolis, IN 46227
Price: $3,350,000
Status: Sold
Cap Rate: 7.65%
Year Built: 2007
NOI: $256,505
Lot Size: 0.96 acres
Price Per Foot: $378
Lease Type: NNN
Remaining Term: 7+ Years (10-Year Extension in 2016)
GLA: 8844 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale to qualified investors the opportunity to purchase University Shoppes, a multi-tenant retail shopping center located in Indianapolis, Indiana (the “Property”). Built in 2007, the building totals approximately 8,844 square feet and sits on an approx 0.96-acre parcel.
University Shoppes is 100% leased to national tenants Bank of America (S&P: A), FedEx Office (S&P: BBB), Prime Communications dba AT&T (over 2,000 locations), and Sun Tan City. AT&T just renewed their lease for an additional 24 months showing their commitment to the site and confirming the desirability of this hard corner location. All tenants are on NNN leases, providing a landlord with a passive income stream and minimal landlord responsibilities.