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Restaurant

Absolute Net Long John Silver's | Unparalleled Location | Strong Demographics | City of Indianapolis

2841 E 38th St, Indianapolis, IN 46218

Listing Price: $600,000

Cap Rate
5.59%
Tenant Name
Long John Silver's
Years Remaining On Lease
12.0
Gross SF
2,228
Guarantor
Corporate Guarantee
Rentable SF
2,228
Price/Gross SF
$269.30
Lease Type
Absolute Net
Rent Per Square Feet
$15.04

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Long john Silver’s located at 2841 E. 38th Street in Indianapolis, Indiana. The site constructed in 1969, consists of roughly 2,228 rentable square feet of building space on estimated 0.70 acre parcel of land. This Long John Silver’s is subject to a long term, 15-year triple-net lease, which commenced on May 17, 2018. The annual rent is $33,514. There are two, five year tenant renewal options. The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, malls, and landmarks, all within close proximity of this property. Major national tenants include: Walgreens, Save- A-Lot, Dollar General, Family Dollar, Goodwill, McDonald’s, Taco Bell, Popeye’s, KFC, Subway, White Castle, O’Reilly Auto Parts, Citgo, BP, as well as many more. This Long John Silver’s also benefits from being just down the street from the Indiana State Fair Grounds, which offers many attractions.

Investment Highlights

  • 12 Years Remaining on a 15-Year Absolute Net Lease with No Landlord Responsibilities
  • Corporate Tenant | Corporate Guarantee
  • Two, Five-Year Renewal Options with 10 Percent Rental Increases in Each Option
  • Situated in Dense Retail Corridor | Walgreens, Save-A-Lot, Dollar General, Family Dollar, McDonald's, Taco Bell, Subway and Many More
  • Compelling Location Fundamentals | Walking Distance from Indiana State Fair
  • Unparalleled Location | Located in the City of Indianapolis
  • Strong Demographics | Over 255,600 Residents | Over $70,300 Average Household Income | Within Five-Miles

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Restaurant

Absolute Net Long John Silver's | Unparalleled Location | Strong Demographics | City of Indianapolis

Listing Price: $600,000

Cap Rate
5.59%
Tenant Name
Long John Silver's
Years Remaining On Lease
12.0
Gross SF
2,228
Guarantor
Corporate Guarantee
Rentable SF
2,228
Price/Gross SF
$269.30
Lease Type
Absolute Net
Rent Per Square Feet
$15.04

Investment Highlights

  • 12 Years Remaining on a 15-Year Absolute Net Lease with No Landlord Responsibilities
  • Corporate Tenant | Corporate Guarantee
  • Two, Five-Year Renewal Options with 10 Percent Rental Increases in Each Option
  • Situated in Dense Retail Corridor | Walgreens, Save-A-Lot, Dollar General, Family Dollar, McDonald's, Taco Bell, Subway and Many More
  • Compelling Location Fundamentals | Walking Distance from Indiana State Fair
  • Unparalleled Location | Located in the City of Indianapolis
  • Strong Demographics | Over 255,600 Residents | Over $70,300 Average Household Income | Within Five-Miles

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Long john Silver’s located at 2841 E. 38th Street in Indianapolis, Indiana. The site constructed in 1969, consists of roughly 2,228 rentable square feet of building space on estimated 0.70 acre parcel of land. This Long John Silver’s is subject to a long term, 15-year triple-net lease, which commenced on May 17, 2018. The annual rent is $33,514. There are two, five year tenant renewal options. The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, malls, and landmarks, all within close proximity of this property. Major national tenants include: Walgreens, Save- A-Lot, Dollar General, Family Dollar, Goodwill, McDonald’s, Taco Bell, Popeye’s, KFC, Subway, White Castle, O’Reilly Auto Parts, Citgo, BP, as well as many more. This Long John Silver’s also benefits from being just down the street from the Indiana State Fair Grounds, which offers many attractions.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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