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Single-Tenant Office

Quality Life at Post Road

3020 N Post Rd, Indianapolis, IN 46226

Listing Price: $3,381,000

Cap Rate
7.25%
Gross SF
24,786
Rentable SF
24,786
Price/Gross SF
$136.41
Lot Size
2.41 acres
Year Built
1988

Investment Overview

Marcus & Millichap is pleased to present to the market the Quality Life adult day care center located at 3020 North Post Road in Indianapolis, Indiana. The Subject Property is a single-tenant, net-leased asset leased to 3020 North Post Road, LLC, a single-purpose entity, and is fully personally guaranteed by the Operator of the business that has strong experience and success in the Medicare-covered adult day care industry across multiple states. The Operator has successfully opened over a dozen adult care facilities in numerous states and has been targeting Indiana for almost five years due to the favorable business environment, and this is the first location to open with a second under construction and more in the pipeline. Historically, the Operator has successfully opened a number of locations in one market, stabilized the operations, and sold to national companies seeking to grow their footprint. The goal in this market is to repeat that successful formula in the Indianapolis MSA. The Quality Life at Post Road is located along North Post Road on the east side of Indianapolis, Indiana just north of the Post Road / Interstate 70 interchange and is surrounded by industrial assets and amenities such as hotels, restaurants, quick service retail, and big box retail such as Lowe's and Home Depot. North Post Road is one of the densest commercial corridors for industrial space in the Indianapolis MSA and boasts tremendous access to thousands of rooftops, which is why the location is so critical for the Tenant. The Quality Life at Post Road is proven, successful business model with customers that are covered by MediCare and operated by an Operator that has been successful with this business use in multiple states for many years, hence the full personal guarantee on the lease. The Property is bound by a 20-year NNN lease that commenced in the summer of 2021 with attractive rental increases over the term, and the building benefits from an all-new HVAC system installed within the last five years and a brand-new roof system installed in 2021. With the improvements to the real estate, the established location, and the successful Operator guaranteeing a long-term lease catering to MediCare-covered customers, the Quality Life at Post Road should prove to be a fantastic stable Investment for the savvy Investor.

Investment Highlights

  • Brand New 20 Year NNN Lease Commenced in 2021
  • Attractive Rent Bumps Every Five Years
  • Proven Operator with 15+ Years' Experience and Multiple Locations Covered by Medicare Insurance
  • Personal Guarantee from Operator of Business
  • Situated Along North Post Road Just One Mile North of Interstate 70 Interchange

Exclusively Listed By

Single-Tenant Office

Quality Life at Post Road

Listing Price: $3,381,000

Cap Rate
7.25%
Gross SF
24,786
Rentable SF
24,786
Price/Gross SF
$136.41
Lot Size
2.41 acres
Year Built
1988

Investment Highlights

  • Brand New 20 Year NNN Lease Commenced in 2021
  • Attractive Rent Bumps Every Five Years
  • Proven Operator with 15+ Years' Experience and Multiple Locations Covered by Medicare Insurance
  • Personal Guarantee from Operator of Business
  • Situated Along North Post Road Just One Mile North of Interstate 70 Interchange

Investment Overview

Marcus & Millichap is pleased to present to the market the Quality Life adult day care center located at 3020 North Post Road in Indianapolis, Indiana. The Subject Property is a single-tenant, net-leased asset leased to 3020 North Post Road, LLC, a single-purpose entity, and is fully personally guaranteed by the Operator of the business that has strong experience and success in the Medicare-covered adult day care industry across multiple states. The Operator has successfully opened over a dozen adult care facilities in numerous states and has been targeting Indiana for almost five years due to the favorable business environment, and this is the first location to open with a second under construction and more in the pipeline. Historically, the Operator has successfully opened a number of locations in one market, stabilized the operations, and sold to national companies seeking to grow their footprint. The goal in this market is to repeat that successful formula in the Indianapolis MSA. The Quality Life at Post Road is located along North Post Road on the east side of Indianapolis, Indiana just north of the Post Road / Interstate 70 interchange and is surrounded by industrial assets and amenities such as hotels, restaurants, quick service retail, and big box retail such as Lowe's and Home Depot. North Post Road is one of the densest commercial corridors for industrial space in the Indianapolis MSA and boasts tremendous access to thousands of rooftops, which is why the location is so critical for the Tenant. The Quality Life at Post Road is proven, successful business model with customers that are covered by MediCare and operated by an Operator that has been successful with this business use in multiple states for many years, hence the full personal guarantee on the lease. The Property is bound by a 20-year NNN lease that commenced in the summer of 2021 with attractive rental increases over the term, and the building benefits from an all-new HVAC system installed within the last five years and a brand-new roof system installed in 2021. With the improvements to the real estate, the established location, and the successful Operator guaranteeing a long-term lease catering to MediCare-covered customers, the Quality Life at Post Road should prove to be a fantastic stable Investment for the savvy Investor.

Exclusively Listed By

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