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Child Care

Family Devlopment Services

5520 W 38th St, Indianapolis, IN 46254

Listing Price: $2,566,050

Cap Rate
9.08%
Tenant Name
Family Development Services
Years Remaining On Lease
7.9
Guarantor
Corporate Guarantee
Rentable SF
15,400
Lease Type
Absolute Net
Rent Per Square Feet
$15.12

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in the Family Development Services property in Indianapolis, Indiana. The International Marketplace continues to experience a boom with a 5-mile population of more than 222,000 people. The offering is ideally positioned off of Interstate 465 and West 38th Street which provides excellent visibility to the tenant from the 50,000+ vehicles that drive by each day. This area has experienced retail growth as well, evidenced by the numerous national, regional, and local retailers in the immediate area. FDS is located in a dense retail corridor with some of the many traffic drivers including The Home Depot, Walmart, Value City Furniture, McDonald’s, LA Fitness, Golden Corral, Starbucks, Verizon, and Target. The property is across the street from the 75,000 sf Eskenazi Health Center, developed in 2013. 1.3 miles to the East, the Lafayette Square Mall is undergoing a $220,000,000 renovation that began this year. FDS signed a new 11-year lease. After the TI is recouped for the new landlord, the rent is set at $6.75/ psf. This lease features impressive rent bumps every five years and in the three option periods. The offering allows for an incoming investor to acquire passive, stable cash flow from a tenant funded by the federal government at rents far below the market. No expense was spared when repositioning the property. The roof, parking lot, sidewalks, and interior were replaced or renewed to the tenant’s specifications.

Investment Highlights

  • Sole Provider of Federally Funded Head Start Program in Marion + Hamilton Counties
  • Recession Resistant Tenant with More than $1 Million in Cap. Ex. Provided by Landlord
  • Excellent Visibility with more than 50,000 Vehicles Per Day Passing By

Exclusively Listed By

Child Care

Family Devlopment Services

Listing Price: $2,566,050

Cap Rate
9.08%
Tenant Name
Family Development Services
Years Remaining On Lease
7.9
Guarantor
Corporate Guarantee
Rentable SF
15,400
Lease Type
Absolute Net
Rent Per Square Feet
$15.12

Investment Highlights

  • Sole Provider of Federally Funded Head Start Program in Marion + Hamilton Counties
  • Recession Resistant Tenant with More than $1 Million in Cap. Ex. Provided by Landlord
  • Excellent Visibility with more than 50,000 Vehicles Per Day Passing By

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in the Family Development Services property in Indianapolis, Indiana. The International Marketplace continues to experience a boom with a 5-mile population of more than 222,000 people. The offering is ideally positioned off of Interstate 465 and West 38th Street which provides excellent visibility to the tenant from the 50,000+ vehicles that drive by each day. This area has experienced retail growth as well, evidenced by the numerous national, regional, and local retailers in the immediate area. FDS is located in a dense retail corridor with some of the many traffic drivers including The Home Depot, Walmart, Value City Furniture, McDonald’s, LA Fitness, Golden Corral, Starbucks, Verizon, and Target. The property is across the street from the 75,000 sf Eskenazi Health Center, developed in 2013. 1.3 miles to the East, the Lafayette Square Mall is undergoing a $220,000,000 renovation that began this year. FDS signed a new 11-year lease. After the TI is recouped for the new landlord, the rent is set at $6.75/ psf. This lease features impressive rent bumps every five years and in the three option periods. The offering allows for an incoming investor to acquire passive, stable cash flow from a tenant funded by the federal government at rents far below the market. No expense was spared when repositioning the property. The roof, parking lot, sidewalks, and interior were replaced or renewed to the tenant’s specifications.

Exclusively Listed By

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