avon creekstrip center

100% Occupied Strip Center in Affluent Suburb of Indianapolis10022 - 10033 US Highway 36, Avon, IN 46123

[ www.CapitalPacific.com ]

https://www.google.com/maps/place/10022+US-36,+Avon,+IN+46123/@39.761651,-86.3425938,17z/data=!4m2!3m1!1s0x886caf57438bbe07:0xcd584b1854017316

ReNtAble SF . . . . . . . . . . . . . . . 11,475 SF

PRICe PeR SF . . . . . . . . . . . . . . . $167.58

lANd AReA . . . . . . . . . . . . . . . 1.63 Acres

YeAR bUIlt . . . . . . . . . . . . . . . 2004

PRICE: $1,923,000CAP: 7.75%

Listing TeamContact Info

jack navarrajnavarra@capitalpacific.com | (415) 274-2705CA BRE# 01909630

John Andreinijandreini@capitalpacific.com | (415) 274-2715CA BRE# 01440360

In conjunction with IN Licensed Broker:Kyle Hughes, Veritas Realtykhughes@veritasrealty.com | (317) 472-1800

PROperty Summary

Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.

Fully lEAsEd stRIP CEntER loCAtEd Along thE domInAnt REtAIl CoRRIdoR oF Avon, In (IndIAnAPolIs msA)

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Avon Creek is a well maintained, 100% occupied strip center located at the retail epicenter of Avon, IN, an affluent suburb of Indianapolis. Situated along US Highway 36, the site benefits from excellent visibility and traffic counts in excess of 44,000 VPD.

eXCelleNt RetAIl lOCAtION

The subject property is ideally located in the center of a major retail node. Immediately across the street from the site is Avon Commons, a Super Target anchored power center that includes hhgregg, Dicks Sporting Goods, Marshalls, Bath & Body Works, Chipotle, and several other national tenants. other major retailers in the immediate trade area include Walmart, Best Buy, Hobby Lobby, Aldi, Menards, Walgreens, Chase, McDonalds, Chick-fil-A, Starbucks and many more. The dense concentration of retail in the immediate provides a steady draw of consumers to the area.

StRONG deMOGRAPHICS Avon Creek benefits from excellent demographics in the immediate area. The population within a three mile radius is over 50,000 with average household incomes in excess of $70,000 a year.

PROPeRtY HIGHlIGHtSExcellent curb appeal.

Very well maintained and manicured.

outstanding traffic counts: 44,000+ VPD

core characteristics

[ surrounding retail ]

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dOMINANt RetAIl CORRIdORaerial

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AVON CREEK CENTER

SHIlOH CROSSING

GAbleS OF AVON

INDIANAPOLIS

36

44,740 DAILY

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AVON COMMONS

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100% OCCuPIED

photos

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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

income & expense

Current

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Price: $1,923,000 original Loan Amount $1,249,950

Capitalization Rate: 7.75% Loan to Value 65%

Price Per Square Foot: $167.58 Interest Rate 4.50%Down Payment 35% $673,050 Amortization 30Loan Amount 65% $1,249,950 Term 10Total Leased (SF): 100.00% 11,475 Net operating Income $149,031

Total Vacant (SF): 0.00% 0 Debt Service ($76,000)Total Rentable Area (SF): 100.00% 11,475 Pre-Tax Cash Flow $73,031

INCOME Per Square FootDebt Cover-age Ratio 1.96

Scheduled Rent $14.75 $169,296Signage Income $1,620 Pre-Tax Leveraged Cash-on-cash Return 10.85%Expense Reimbursement $47,028 Principal Pay down (Year 1 of ownership) $20,165 Admin Fee* $2,786 Total Return $93,196

EFFECTIVE GROSS INCOME $220,730 Yield 13.85%Vacancy Factor (3%) ($6,622)

EXPENSECapEx Reserves ($0.15) ($1,721)Maintenance Expenses ($1.17) ($13,458)Insurance ($0.39) ($4,450)Property Taxes ($3.38) ($38,826)Management Fee (3%) ($0.58) ($6,622)

TOTAL OPERATING EXPENSES ($5.67) ($65,077)

NET OPERATING INCOME $149,031 * Sushi House and Altered Image pay 15% admin fee on CAM; Longs Mattress and Cleaners pay 20% admin fee on CAM

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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

rent roll

TENANT INFO LEASE TERMS RENT SUMMARY

Tenant Sq. Ft. Percent of GLA TermMonthly

RentAnnual

Rent Rent/FT

Sushi House 2,245 19.56% 10/05/10 02/28/19 $2,620 $31,436 $14.00

Longs Mattress 3,519 30.67% 10/01/13 09/30/18 $3,519 $42,228 $12.00

10/01/18 09/30/23 $3,812 $45,747 $13.00

Altered Image Tattoo 1,700 14.81% 08/01/07 11/05/15 $3,132 $37,584 $22.11

11/06/15 11/05/16 $3,195 $38,336 $22.55

11/06/16 11/05/17 $3,259 $39,103 $23.00

11/06/17 11/05/18 $3,324 $39,884 $23.46

11/06/18 11/05/19 $3,390 $40,683 $23.93

11/06/19 11/05/20 $3,458 $41,496 $24.41

11/06/20 11/05/21 $3,527 $42,326 $24.90

11/06/21 11/05/22 $3,598 $43,173 $25.40

$1.99 Cleaners 2,048 17.85% 04/01/14 03/31/20 $2,475 $29,696 $14.50

04/01/20 03/31/25 $2,560 $30,720 $15.00

option 1 04/01/25 03/31/30 $2,731 $32,768 $16.00

option 2 04/01/30 03/31/35 $2,901 $34,815 $17.00

Megans Beauty Spa 1,963 17.11% 01/01/16 12/31/20 $2,300 $27,600 $14.06

option 1 01/01/21 12/31/26 $2,760 $33,120 $16.87

Current Totals: 11,475 100.00% $14,108 $169,296 $14.75

Occupied 11,475 100.00%

Vacant 0 0.00%

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site plan

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Megans beauty Spa

This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warran-ties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.

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SuPER TARgET ANChORED POwER

CENTER (DIRECTLY ACROSS ThE

STREET fROm SuBJECT PROPERTY)

surrounding retail

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NEARBY NATIONAL RETAILERS

surrounding retail

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AVON COmmONS(DIRECTLY ACROSS fROm

SuBJECT PROPERTY)

surrounding retail

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SIgNIfICANT DRAw fROm

NEARBY NATIONAL RETAILERS

surrounding retail

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Altered Image Tattoo & Piercing Studio prides themselves on being up-to-date with the highest of industry standard when it comes to ensuring cleanliness of tattoos and piercing. They offer appointments with their professional piercing and tattoo artists and also welcome walk-ins.

Longs Furniture World and Mattress offers a wide selection of todays top furniture brands. They have been furnishing homes since 2004 and offer both traditional and modern furniture and high quality mattresses in their six showrooms. Longs offers more than 40 Bowle mattress models from luxury to economy. Bowles mattresses are known to be comfortable and last much longer than the more expensive national brands. They are also proudly made in Indiana.

tenants

lONGS FURNItURe WORld ANd MAttReSS AlteRed IMAGe tAttOO & PIeRCING StUdIO

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2015 hOuSEhOLD INCOmES

POPuLATION

TOP EmPLOYERS IN INDIANAPOLIS

demographics & regional map

AVoN

Employer # of Employees*St. Vincent Health 17,398Indiana University Health 11,810Eli Lilly and Company 10,735Community Health Network 10,402*Approximate

AVON CREEK

INDIANAPoLIS

27 MIN13 MILES

1-Mile 3-Mile 5-Mile

Average $68,543 $70,018 $66,840Median $63,133 $58,197 $52,283

1-Mile 3-Mile 5-Mile

2010 5,355 48,835 126,7442015 5,599 51,655 132,6412020 5,923 55,099 140,072

44,740 DAILY

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AbOUt AVON, IN

Avon is located in Washington Township, Hendricks County, Indiana, just 13 miles west of Indianapolis and ten minutes away from Indianapolis International Airport. Avons close proximity to Indianapolis and diverse housing market make it a favorite for major retailers, professional service firms and manufacturing companies.

Indianapolis is the capital of Indiana and had a 2013 estimated population of nearly 843,393, making it the largest city in the state, the second largest in the Midwest, and the 14th largest in the country.

Indianapolis has a diverse economy, relying on trade, transportation, utilities, professional and business services, education and health services, government, retail trade, leisure and hospitality, and manufacturing. Three Fortune 500 companies are based in the city: Anthem Inc., Eli Lilly and Company, and Calumet Specialty Products Partners.

Indianapolis hosts several notable sporting events annually, including the Brickyard 400, Grand Prix of Indianapolis, NFL Scouting Combine, the largest half marathon in the U.S., and the largest single-day sporting event in the world, the Indianapolis 500.

13 miles from indianapolis

location [ indianapolis, in ]

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A unique HUMANRESULTS-DRIVEN client experience

tHe CAPItAl PACIFIC eXPeRIeNCe - OUR dAIlY COMMItMeNt tO OUR ClIeNtS

[ www.CapitalPacific.com ]

JACk NAVARRAjnavarra@capitalpacific.com | (415) 274-2705CA BRE# 01909630

JOHN ANdReINIjandreini@capitalpacific.com | (415) 274-2715 CA