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Shopping Strip

Starbucks & PetVet365 Anchored Center

6929 W 38th St, Indianapolis, IN 46254

Listing Price: $3,360,000

Cap Rate
7.12%
Gross SF
6,992
Rentable SF
6,992
Price/Gross SF
$480.55
Lot Size
1.33 acres
Year Built
2018

Investment Overview

Marcus & Millichap is pleased to exclusively offer a 100% occupied Starbucks anchored center, boasting a diverse tenant roster comprising global and national brands. All tenants operate under net leases and Starbucks and Great Clips both offer corporate guarantees. PetVet365 commenced a new 10-year lease in January 2024.

Situated within The Village at Eagle Creek and shadow-anchored by Target and VASA Fitness, the property enjoys a strategic location. Other outlots include well-known chains like Burger King, Taco Bell, Chili’s, and IHOP, contributing to the area's commercial vibrancy. The nearby Target had 1.1 million visits in 2023, indicating significant consumer activity.

The inclusion of a Starbucks drive-thru adds value and flexibility to the property, catering to evolving consumer preferences. Surrounding the property are numerous notable retailers such as The Home Depot, Meijer, and Walmart Supercenter, fostering a dynamic retail environment. Notably, the nearby Home Depot location ranks as the fourth most visited in Indiana, attesting to the area's commercial appeal.

Strategically positioned directly off the Interstate 465 interchange, the property benefits from high visibility, with over 160,000 vehicles passing by daily. Its location along 38th Street offers over 275 feet of unobstructed frontage, further enhancing its visibility and accessibility. Situated just 8.5 miles from downtown Indianapolis, the property is nestled within dense, infill surroundings, with a substantial population of nearly 200,000 residents within a five-mile radius. Moreover, approximately 69,000 people work within three miles.

Investment Highlights

  • 100% Occupied Starbucks Anchored Center | Complimentary Tenant Roster Featuring All Global and National Tenants
  • Pet Vet 365 New 10-Year Lease Commenced January 2024 | Starbucks and Great Clips are Both Corporately Guaranteed
  • Shadow-Anchored by Target and VASA Fitness | This Target had 1.1 Million Visits in 2023 (Placer.ai)
  • Directly Off of the Interstate 465 Interchange | 160,559 Vehicles per Day
  • Dense, Infill Surroundings | 8.5 Miles from Downtown Indianapolis

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Shopping Strip

Starbucks & PetVet365 Anchored Center

Listing Price: $3,360,000

Cap Rate
7.12%
Gross SF
6,992
Rentable SF
6,992
Price/Gross SF
$480.55
Lot Size
1.33 acres
Year Built
2018

Investment Highlights

  • 100% Occupied Starbucks Anchored Center | Complimentary Tenant Roster Featuring All Global and National Tenants
  • Pet Vet 365 New 10-Year Lease Commenced January 2024 | Starbucks and Great Clips are Both Corporately Guaranteed
  • Shadow-Anchored by Target and VASA Fitness | This Target had 1.1 Million Visits in 2023 (Placer.ai)
  • Directly Off of the Interstate 465 Interchange | 160,559 Vehicles per Day
  • Dense, Infill Surroundings | 8.5 Miles from Downtown Indianapolis

Investment Overview

Marcus & Millichap is pleased to exclusively offer a 100% occupied Starbucks anchored center, boasting a diverse tenant roster comprising global and national brands. All tenants operate under net leases and Starbucks and Great Clips both offer corporate guarantees. PetVet365 commenced a new 10-year lease in January 2024. Situated within The Village at Eagle Creek and shadow-anchored by Target and VASA Fitness, the property enjoys a strategic location. Other outlots include well-known chains like Burger King, Taco Bell, Chili’s, and IHOP, contributing to the area's commercial vibrancy. The nearby Target had 1.1 million visits in 2023, indicating significant consumer activity. The inclusion of a Starbucks drive-thru adds value and flexibility to the property, catering to evolving consumer preferences. Surrounding the property are numerous notable retailers such as The Home Depot, Meijer, and Walmart Supercenter, fostering a dynamic retail environment. Notably, the nearby Home Depot location ranks as the fourth most visited in Indiana, attesting to the area's commercial appeal. Strategically positioned directly off the Interstate 465 interchange, the property benefits from high visibility, with over 160,000 vehicles passing by daily. Its location along 38th Street offers over 275 feet of unobstructed frontage, further enhancing its visibility and accessibility. Situated just 8.5 miles from downtown Indianapolis, the property is nestled within dense, infill surroundings, with a substantial population of nearly 200,000 residents within a five-mile radius. Moreover, approximately 69,000 people work within three miles.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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