Shopping Strip
1300 Block
1302 N Main St, Indianapolis, IN 46224
Listing Price: $2,752,000
Investment Overview
Marcus & Millichap is pleased to exclusively present for your acquisition review 1300 Block Main Street located in Speedway, IN.
The brand-new 8,600+ square foot building is positioned along Main Street in Indianapolis. Speedway has quickly grown into a popular destination for the local population and regional visitors alike. The building lies in the shadow of the Indianapolis Motor Speedway, home of The Greatest Spectacle in Racing: the Indy 500. During this event, Main Street will see more than a quarter of a million visitors. Main Street is home to several racing industry headquarters, Prax Air, Big Woods, Charlie Brown’s, and many other local favorites. The delivery of several apartment buildings along main street will continue to increase the need for retail and office demand in the area.
The property is 100 percent occupied by B. Erin Designs LLC, Le Peep, and Vine & Table. All three tenants signed fresh ten-year leases, which commenced on May 1, 2023, leaving more than nine and a half years of lease term remaining for each tenant. B.Erin Designs has a rent increase in year three and in year seven of their base term. Le Peep and Vine & Table both have rent increases in year six of their base terms. The rent increases provide rent growth and a strong hedge against potential inflation. The leases are triple net, with each tenant being financially responsible for their pro rata share of all common area maintenance, real estate taxes, insurance and a partial administration fee reimbursement as well. The Home Owners Association is responsible for the management of all common area maintenance, offering a future landlord a passive, relatively hands-free investment.
Le Peep and Vine & Table are two tenants that have been very popular in the Indianapolis area for 20+ years. Le Peep is a breakfast, brunch, and lunch restaurant that has been voted the #1 breakfast & brunch restaurant by the Dallas Observer, Denver Post, Denver Rocky Mountain News, Houston Post, Dallas Morning News, Indianapolis Star, and more. Le Peep can be found in Colorado, Florida, Idaho, Illinois, Indiana, Missouri, north Carolina, Nebraska, New Jersey, Ohio, South Carolina, Tennessee, and Texas. Vine & Table has been offering the finest wines, spirits, and craft beers in Indiana since 1996. This location will be the third location that Vine & Table has opened in the Indianapolis area.
Investment Highlights
- 14,914 Square Foot Multi-Tenant First Floor Condo | 100 Percent Occupied | New 2022 Construction | Zero Deferred Maintenance
- Fresh 10-Year Leases Signed by All Three Tenants | All Leases Commenced 5/1/2023 | Base Term Rent Increases for All Three Tenants and in Renewal Options | Perfect Hedge Against Inflation
- All NNN Leases | HOA Directly Handles All CAM and Management of CAM | Tenants Responsible for Reimbursing for their Pro Rata Share of CTI Expenses
- Pro-Forma Cap Rate of 7.35 Percent by 2029 Upon Base Term Rent Increases for Each Tenant | Estimated Pro Forma Cash-on-Cash in 2029 of 8.58 Percent Based off Projected Refinance in 2028 (5.00 Percent IR; 25-Yr Am; Five-Year Term)
- Thriving Main Street Location | Positioned One-Half Mile from the Indianapolis Motor Speedway - Home to the Indianapolis 500 (250,000+ Spectators Annually)
- Le Peep is a Franchised Restaurant that Offers Breakfast, Brunch, and Lunch | 43 Locations Across the US (Eight Locations in Indiana)
- Vine & Table Offers Indiana's Finest Wines, Spirits, and Craft Beers | Three Locations in the Indianapolis Area
- Influx of New Apartment and Mixed-Use Developments along Main Street Contribute to Increased Retail and Office Demand
Exclusively Listed By
Listing Price: $2,752,000
Investment Highlights
- 14,914 Square Foot Multi-Tenant First Floor Condo | 100 Percent Occupied | New 2022 Construction | Zero Deferred Maintenance
- Fresh 10-Year Leases Signed by All Three Tenants | All Leases Commenced 5/1/2023 | Base Term Rent Increases for All Three Tenants and in Renewal Options | Perfect Hedge Against Inflation
- All NNN Leases | HOA Directly Handles All CAM and Management of CAM | Tenants Responsible for Reimbursing for their Pro Rata Share of CTI Expenses
- Pro-Forma Cap Rate of 7.35 Percent by 2029 Upon Base Term Rent Increases for Each Tenant | Estimated Pro Forma Cash-on-Cash in 2029 of 8.58 Percent Based off Projected Refinance in 2028 (5.00 Percent IR; 25-Yr Am; Five-Year Term)
- Thriving Main Street Location | Positioned One-Half Mile from the Indianapolis Motor Speedway - Home to the Indianapolis 500 (250,000+ Spectators Annually)
- Le Peep is a Franchised Restaurant that Offers Breakfast, Brunch, and Lunch | 43 Locations Across the US (Eight Locations in Indiana)
- Vine & Table Offers Indiana's Finest Wines, Spirits, and Craft Beers | Three Locations in the Indianapolis Area
- Influx of New Apartment and Mixed-Use Developments along Main Street Contribute to Increased Retail and Office Demand
Investment Overview
Marcus & Millichap is pleased to exclusively present for your acquisition review 1300 Block Main Street located in Speedway, IN. The brand-new 8,600+ square foot building is positioned along Main Street in Indianapolis. Speedway has quickly grown into a popular destination for the local population and regional visitors alike. The building lies in the shadow of the Indianapolis Motor Speedway, home of The Greatest Spectacle in Racing: the Indy 500. During this event, Main Street will see more than a quarter of a million visitors. Main Street is home to several racing industry headquarters, Prax Air, Big Woods, Charlie Brown’s, and many other local favorites. The delivery of several apartment buildings along main street will continue to increase the need for retail and office demand in the area. The property is 100 percent occupied by B. Erin Designs LLC, Le Peep, and Vine & Table. All three tenants signed fresh ten-year leases, which commenced on May 1, 2023, leaving more than nine and a half years of lease term remaining for each tenant. B.Erin Designs has a rent increase in year three and in year seven of their base term. Le Peep and Vine & Table both have rent increases in year six of their base terms. The rent increases provide rent growth and a strong hedge against potential inflation. The leases are triple net, with each tenant being financially responsible for their pro rata share of all common area maintenance, real estate taxes, insurance and a partial administration fee reimbursement as well. The Home Owners Association is responsible for the management of all common area maintenance, offering a future landlord a passive, relatively hands-free investment. Le Peep and Vine & Table are two tenants that have been very popular in the Indianapolis area for 20+ years. Le Peep is a breakfast, brunch, and lunch restaurant that has been voted the #1 breakfast & brunch restaurant by the Dallas Observer, Denver Post, Denver Rocky Mountain News, Houston Post, Dallas Morning News, Indianapolis Star, and more. Le Peep can be found in Colorado, Florida, Idaho, Illinois, Indiana, Missouri, north Carolina, Nebraska, New Jersey, Ohio, South Carolina, Tennessee, and Texas. Vine & Table has been offering the finest wines, spirits, and craft beers in Indiana since 1996. This location will be the third location that Vine & Table has opened in the Indianapolis area.
Exclusively Listed By

