Investment Overview

Marcus & Millichap is pleased to exclusively represent for sale the Keith Lynn Business Complex, a 100 percent occupied, triple net leased warehouse located at 8641 E 30th St, Indianapolis, IN. Built in 1965 and renovated in 2018, the 63,731 SF facility originally featured five suites; which have been consolidated to serve two tenants. The warehouse is situated on 4.26 acres in the high demand I-70 logistics corridor. The property zoned I-2, features two dock doors, six drive-ins, clear heights ranging from 12’ to 16’, 400A/240V 3-phase power, sprinkler system, monument signage, ~0.75 acres (32,838 SF) fenced outdoor storage. Division 7 Metals Partners, LLC (anchor tenant) is one of the Midwest’s largest metal panel manufacturers with a 25 year operating history serving clients in Indiana, Illinois, Kentucky and Ohio. Division 7 Metals (move-in 2006) continues to grow their operations resulting in a January 2024 expansion within the building to include an additional 11,304SF increasing their GLA to 84% of the building. The expansion demonstrates the tenant’s commitment to the location. In addition, the tenant has made capital improvements to their space including new LED motion activated lights (2024) as well capital expenditures for state of the art equipment. The tenant has 5.8 years remaining on its triple net lease term, with three percent annual escalations and (one) five-year renewal option at FMV. Sunrise Staffing, LLC dba Sunrise Market (16.16 percent GLA) is a specialty Haitian and international grocer serving the Indianapolis’ Haitian community (~20,000-30,000 population; Haitian Association of Indiana) and surrounding community. Sunrise Market executed a 5-year NNN lease (11/2024) with a 10.4% rent bump in 2026 followed by 3.5 percent annual rent escalations. The property is located in the Warren Park Industrial Submarket (industrial vacancy rate is 3.4 prcent, historical average: 5 percent). Rents in the submarket have increased 3.6 percent YoY, with a five-year average growth of 6.4 percent. Industrial rents average $7.34 SF (CoStar Group, March 2025). The property’s current average rent is $6.41 SF, presenting upside at end of lease term. Located along E 30th St (14,351 Vehicles Per Day), the property is one mile from the I-70 interchange (100,744 VPD), offering direct access to I-465 (175,424 Vehicles Per Day) and I-65 (127,065 Vehicles Per Day), ensuring excellent logistics connectivity. The surrounding area is home to major industrial and logistics employers, including Kraft Heinz, Adidas, Central Supply Co., Swift Air, and Planes Moving & Storage, Amazon, TJ Maxx, and Walmart. The Indianapolis MSA (Population: 2,138,468, Rank: 34th) is known for its business-friendly environment and low cost of living. The subject property benefits from a population of 609,758 and Annual Household Income of $88,337 within a 10-mile radius, with daytime population increasing by 26%. The area boasts an educated workforce from institutions such as Indiana University Indianapolis (Enrollment: 20,568), Butler University (Enrollment: 5,763), University of Indianapolis (Enrollment: 5,018), Purdue University Indianapolis (Enrollment: 2,634), and Ivy Tech Community College. This 100 percent occupied two-tenant triple net lease warehouse presents an attractive investment opportunity with limited landlord responsibilities, strong in-place cash flow, below-market rents, and annual rent escalations. Its prime location, historic long-term tenancy, and industrial submarket growth trends position it for continued investment success.