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Restaurant

Starbucks w/ Dr-Thru | Indianapolis MSA | 12 Year Lease | Brand New 2025 Construction | Hard Corner

1589 S Waterleaf Dr, Westfield (Indianapolis MSA), IN 46074

Listing Price: $3,400,410

Cap Rate
5.85%
Tenant Name
Starbucks
Years Remaining On Lease
12.5
Gross SF
2,480
Guarantor
Corporate Guarantee
Rentable SF
2,480
Price/Gross SF
$1,371.13
Lease Type
Double Net
Rent Per Square Feet
$80.21

Investment Overview

Westfield, Indiana, is a thriving suburban community located just north of Indianapolis. It has experienced significant growth in recent years, becoming one of the most desirable places to live in Hamilton County. Known for its family-friendly atmosphere, excellent schools, and expanding commercial developments, Westfield offers a blend of small-town charm and modern conveniences.

One of the most notable attractions in the area is Grand Park, a massive 400-acre sports complex that draws athletes and visitors from all over the country. The facility includes over 30 multi-purpose fields, baseball diamonds, and indoor training areas, making it a hub for youth and collegiate sports tournaments. Grand Park has also spurred economic development, bringing new businesses, restaurants, and entertainment options to the area.

Westfield’s residential communities are designed with a focus on quality of life. Many neighborhoods feature modern homes with spacious layouts, walking trails, and green spaces. Developments like Harmony, Maple Knoll, and Viking Meadows are popular among families and professionals looking for suburban living with easy access to urban amenities. The city’s commitment to infrastructure and smart planning has made it a top choice for new homeowners.

Education is a major draw for Westfield, as the Westfield Washington School District is highly rated, offering strong academic programs and extracurricular activities. The district consistently ranks among the best in the state, attracting families who prioritize top-tier education.

The city has a growing retail and dining scene, with a mix of local boutiques, national chains, and diverse restaurants. Downtown Westfield, particularly along Park Street, has transformed into a vibrant dining destination featuring unique eateries, breweries, and coffee shops. The Monon Trail, a scenic multi-use path, runs through the area, providing residents with a great way to stay active and connect with nature.

With easy access to U.S. 31, residents enjoy quick commutes to Carmel, Noblesville, and Indianapolis. Westfield’s combination of recreational opportunities, strong community engagement, and economic growth makes it a sought-after destination for families, professionals, and businesses alike.

Investment Highlights

  • 12 Year Starbucks Featuring 10% Rental Increases at Year 5 and at Each Option. Brand New 2025 High Quality Construction w/ Drive-Thru.
  • Hard Corner Location: Features Easy Access & Excellent Visibility with Daily Traffic Counts Exceeding 11k Vehicles.
  • Starbucks has a S&P Investment Grade Credit Rating of "BBB+" and is Ranked #116 on the Fortune 500 List with an Annual Revenue of more than $36.17 Billion.
  • Westfield is a Thriving Suburban Community Located Just North of Indianapolis. It has Experienced Significant Growth in Recent Years, becoming One of the Most Desirable Places to Live in Hamilton County.
  • Densely Populated and Affluent Indianapolis Suburb: Features an Average Household Income of more than $182k (more than Double the National Average) within a 1-Mile Radius and over 128k People Residing within a 5-Mile Radius.
  • Bedroom Community of Indianapolis - Westfield offers Quality and Affordable Housing, Excellent Schools, and an Excellent Suburban Lifestyle. Many Residents Commute to Jobs in the Capital.
  • Immediate Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - Near Several Retail & Housing Developments / Under Construction.
  • Within Marketplace at Harmony - Master-Planned Community spanning 275 Acres, featuring 915+ Single-Family Homes, 250 Multi-Family Homes, Retail Amenities, and Extensive Walking Trails and Green Spaces.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    First Vice President Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Restaurant

Starbucks w/ Dr-Thru | Indianapolis MSA | 12 Year Lease | Brand New 2025 Construction | Hard Corner

Listing Price: $3,400,410

Cap Rate
5.85%
Tenant Name
Starbucks
Years Remaining On Lease
12.5
Gross SF
2,480
Guarantor
Corporate Guarantee
Rentable SF
2,480
Price/Gross SF
$1,371.13
Lease Type
Double Net
Rent Per Square Feet
$80.21

Investment Highlights

  • 12 Year Starbucks Featuring 10% Rental Increases at Year 5 and at Each Option. Brand New 2025 High Quality Construction w/ Drive-Thru.
  • Hard Corner Location: Features Easy Access & Excellent Visibility with Daily Traffic Counts Exceeding 11k Vehicles.
  • Starbucks has a S&P Investment Grade Credit Rating of "BBB+" and is Ranked #116 on the Fortune 500 List with an Annual Revenue of more than $36.17 Billion.
  • Westfield is a Thriving Suburban Community Located Just North of Indianapolis. It has Experienced Significant Growth in Recent Years, becoming One of the Most Desirable Places to Live in Hamilton County.
  • Densely Populated and Affluent Indianapolis Suburb: Features an Average Household Income of more than $182k (more than Double the National Average) within a 1-Mile Radius and over 128k People Residing within a 5-Mile Radius.
  • Bedroom Community of Indianapolis - Westfield offers Quality and Affordable Housing, Excellent Schools, and an Excellent Suburban Lifestyle. Many Residents Commute to Jobs in the Capital.
  • Immediate Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - Near Several Retail & Housing Developments / Under Construction.
  • Within Marketplace at Harmony - Master-Planned Community spanning 275 Acres, featuring 915+ Single-Family Homes, 250 Multi-Family Homes, Retail Amenities, and Extensive Walking Trails and Green Spaces.

Investment Overview

Westfield, Indiana, is a thriving suburban community located just north of Indianapolis. It has experienced significant growth in recent years, becoming one of the most desirable places to live in Hamilton County. Known for its family-friendly atmosphere, excellent schools, and expanding commercial developments, Westfield offers a blend of small-town charm and modern conveniences. One of the most notable attractions in the area is Grand Park, a massive 400-acre sports complex that draws athletes and visitors from all over the country. The facility includes over 30 multi-purpose fields, baseball diamonds, and indoor training areas, making it a hub for youth and collegiate sports tournaments. Grand Park has also spurred economic development, bringing new businesses, restaurants, and entertainment options to the area. Westfield’s residential communities are designed with a focus on quality of life. Many neighborhoods feature modern homes with spacious layouts, walking trails, and green spaces. Developments like Harmony, Maple Knoll, and Viking Meadows are popular among families and professionals looking for suburban living with easy access to urban amenities. The city’s commitment to infrastructure and smart planning has made it a top choice for new homeowners. Education is a major draw for Westfield, as the Westfield Washington School District is highly rated, offering strong academic programs and extracurricular activities. The district consistently ranks among the best in the state, attracting families who prioritize top-tier education. The city has a growing retail and dining scene, with a mix of local boutiques, national chains, and diverse restaurants. Downtown Westfield, particularly along Park Street, has transformed into a vibrant dining destination featuring unique eateries, breweries, and coffee shops. The Monon Trail, a scenic multi-use path, runs through the area, providing residents with a great way to stay active and connect with nature. With easy access to U.S. 31, residents enjoy quick commutes to Carmel, Noblesville, and Indianapolis. Westfield’s combination of recreational opportunities, strong community engagement, and economic growth makes it a sought-after destination for families, professionals, and businesses alike.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego Downtown

  • Jon Talia

    First Vice President Investments

    (858) 373-3186

    Email Jon

    License(s): CA: 02031343

    San Diego Downtown

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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