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Binford Flex Center

5060 E 62nd St, Indianapolis, IN 46220

Listing Price: $3,100,000

Cap Rate
8.76%
Gross SF
36,831
Rentable SF
36,831
Price/Gross SF
$84.17
Lot Size
4.07 acres
Year Built
1987

Investment Overview

Marcus & Millichap is pleased to present for sale the Binford Flex Center, in Indianapolis, IN. The Property consists of a 4.07+/- acre parcel with a 36,729 rentable square foot flex building. The center is 100% occupied with ten (10) local and regional tenants, including retail, office, and light industrial uses. The site contains two (2) areas that may be developed with new structures, one being directly on Binford Blvd. An existing study is available with layouts via request from Broker. The extremely well-located property has remained essentially 100% occupied for many years. Per CoStar, the vacancy rate for flex centers within a 2-mile radius of this asset sits at just 1.7%.

The location of the property on Binford Blvd results in a traffic count of over 36,000 vehicles per day. Binford Boulevard leads into downtown Indianapolis and, just north of the property, turns into Interstate 69 which is one of the largest North/South thoroughfares in Indiana. Interstate 465, the major beltway around Indianapolis, is just a 4-minute drive from the property as well, making this location easily accessible for the majority of the city.

There are over 206,000 people living in a 5-mile radius of this site and the Indianapolis Metro has a population of over 2,000,000. Average Household income exceeds $109,000 in a 1-mile radius of this location.

Investment Highlights

  • Multi-Tenant Flex Property with Phenomenal Real Estate Fundamentals
  • Surrounded by Many National, Regional, and Local Retailers
  • Upside in Below Market Rents with Potential to Recapture for Expenses in New Leases
  • Great Visibility Directly on Binford Blvd with Traffic Counts of over 36,000 VPD
  • High Historical Occupancy Provides Great Stability to a New Investor

Exclusively Listed By

Listing Price: $3,100,000

Cap Rate
8.76%
Gross SF
36,831
Rentable SF
36,831
Price/Gross SF
$84.17
Lot Size
4.07 acres
Year Built
1987

Investment Highlights

  • Multi-Tenant Flex Property with Phenomenal Real Estate Fundamentals
  • Surrounded by Many National, Regional, and Local Retailers
  • Upside in Below Market Rents with Potential to Recapture for Expenses in New Leases
  • Great Visibility Directly on Binford Blvd with Traffic Counts of over 36,000 VPD
  • High Historical Occupancy Provides Great Stability to a New Investor

Investment Overview

Marcus & Millichap is pleased to present for sale the Binford Flex Center, in Indianapolis, IN. The Property consists of a 4.07+/- acre parcel with a 36,729 rentable square foot flex building. The center is 100% occupied with ten (10) local and regional tenants, including retail, office, and light industrial uses. The site contains two (2) areas that may be developed with new structures, one being directly on Binford Blvd. An existing study is available with layouts via request from Broker. The extremely well-located property has remained essentially 100% occupied for many years. Per CoStar, the vacancy rate for flex centers within a 2-mile radius of this asset sits at just 1.7%.

The location of the property on Binford Blvd results in a traffic count of over 36,000 vehicles per day. Binford Boulevard leads into downtown Indianapolis and, just north of the property, turns into Interstate 69 which is one of the largest North/South thoroughfares in Indiana. Interstate 465, the major beltway around Indianapolis, is just a 4-minute drive from the property as well, making this location easily accessible for the majority of the city.

There are over 206,000 people living in a 5-mile radius of this site and the Indianapolis Metro has a population of over 2,000,000. Average Household income exceeds $109,000 in a 1-mile radius of this location.

Exclusively Listed By

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