Skip to main content

Vacant-User

985 Dorman St.

985 Dorman St, Indianapolis, IN 46202

Listing Price: $2,115,000

Cap Rate
6.06%
Gross SF
5,576
Rentable SF
5,576
Price/Gross SF
$379.30
Lot Size
0.26 acres
Year Built
2019

Investment Overview

Marcus and Millichap is proud to bring to the market 985 Dorman St. 985 Dorman Street is a rare, new construction, Class “A” medical / professional / retail building developed in the heart of one of the fastest growing neighborhoods in Indianapolis surrounded by restaurants, retail, new residential development, commercial redevelopments, and one of the most prominent mixed-used redevelopments in the City called the Bottleworks District. The Subject Property is also in immediate proximity to the Massachusetts Avenue corridor of retail, apartments, restaurants, and bars – primarily referred to “Mass Ave” – as well as Interstate 70 and Interstate 65 as it runs through the northeast section of the Central Business District of Indianapolis. 985 Dorman Street is a two-story, mixed-use medical / professional / retail development fully leased to a mix of service-based retailers, professional users, and is anchored by Central Indiana Oral Surgery on the second floor with over six years left on an original ten year lease. All leases are true triple-net with CAM, taxes, insurance, and management being passed thru to the Tenants, leaving the no exposure on the Landlord for the operating expenses. The current property management company has been with the project since the original development and would stay in place for a new Owner as well, making the transition for a local passive Investor or an out-of-state investor seamless and easy.

Investment Highlights

  • Rare New Construction, Class "A" Retail/Medical Asset in Heart of Prime Redevelopment Area
  • Immediately Adjacent to The Bottleworks District, Circle City Industrial Center, & Mass Ave in Downtown Indianapolis
  • Fully Occupied with NNN Rents all with Increases Throughout Lease Terms
  • Surrounded by New and Renovated Residential Neighborhoods Bringing Dense Foot Traffic to Location
  • Trophy Asset in Booming Redevelopment Area of Indianapolis, Indiana

Exclusively Listed By

Vacant-User

985 Dorman St.

Listing Price: $2,115,000

Cap Rate
6.06%
Gross SF
5,576
Rentable SF
5,576
Price/Gross SF
$379.30
Lot Size
0.26 acres
Year Built
2019

Investment Highlights

  • Rare New Construction, Class "A" Retail/Medical Asset in Heart of Prime Redevelopment Area
  • Immediately Adjacent to The Bottleworks District, Circle City Industrial Center, & Mass Ave in Downtown Indianapolis
  • Fully Occupied with NNN Rents all with Increases Throughout Lease Terms
  • Surrounded by New and Renovated Residential Neighborhoods Bringing Dense Foot Traffic to Location
  • Trophy Asset in Booming Redevelopment Area of Indianapolis, Indiana

Investment Overview

Marcus and Millichap is proud to bring to the market 985 Dorman St. 985 Dorman Street is a rare, new construction, Class “A” medical / professional / retail building developed in the heart of one of the fastest growing neighborhoods in Indianapolis surrounded by restaurants, retail, new residential development, commercial redevelopments, and one of the most prominent mixed-used redevelopments in the City called the Bottleworks District. The Subject Property is also in immediate proximity to the Massachusetts Avenue corridor of retail, apartments, restaurants, and bars – primarily referred to “Mass Ave” – as well as Interstate 70 and Interstate 65 as it runs through the northeast section of the Central Business District of Indianapolis. 985 Dorman Street is a two-story, mixed-use medical / professional / retail development fully leased to a mix of service-based retailers, professional users, and is anchored by Central Indiana Oral Surgery on the second floor with over six years left on an original ten year lease. All leases are true triple-net with CAM, taxes, insurance, and management being passed thru to the Tenants, leaving the no exposure on the Landlord for the operating expenses. The current property management company has been with the project since the original development and would stay in place for a new Owner as well, making the transition for a local passive Investor or an out-of-state investor seamless and easy.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower