midas portfolio (3 locations) · indianapolis anchors the 25th largest economic region in the u.s.,...
TRANSCRIPT
In association with a licensed Indiana Real Estate Broker
Pete Bryan | License: RB14048348
Midas Portfolio (3 Locations)Indianapolis, Indiana | Available Individually or as a Portfolio
314.833.4388iebrealestate.com
Saint Louis, Missouri
Ryan P. Wood314.797.7549
Disclaimer
IEB Real Estate, LLC (the “Company”) prepared this memorandum (“Memorandum”) solely from documents and information (the “Materials”) provided to the Company by the seller of the subject property (the “Property”). The Company has not conducted an independent investigation of the facts contained in the Materials or the Property, has no knowledge of the accuracy or truthfulness of the facts contained in the Materials, makes no warranty regarding the accuracy or truthfulness of any information disclosed in the Materials, and disclaims any liability with respect to any inaccuracies or misinformation contained in the Materials. Furthermore, the Company is not aware of any adverse material fact respecting the seller or the Property.[, except for those facts expressly disclosed in this Memorandum.] Prospective buyers will have the opportunity to obtain additional information regarding the facts contained in the Materials and disclosed in this Memorandum during the due diligence period.
Portfolio Overview
Asking Price$2,447,404
Cap Rate6.62%
NOI$162,008
• Corporately Guaranteed Leases
• Strong Surrounding Retail
• Long Operating History
• E-Commerce Proof Business
Midas is an American chain of automotive service centers headquartered in Palm Beach Gardens, Florida. In its North American main and home market, Midas stores are company-owned or franchised. Midas is one of the world’s largest providers of automotive services, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,000 franchised, licensed and company-owned Midas shops in 13 countries, including nearly 1,300 in the United States of America and Canada. Midas also owns the SpeeDee Oil & Auto Service business, with more than 150 auto service centers in America.
In April 1956, Midas began life as a groundbreaking auto repair outlet with a reputation for service, quality, and reliability. Now after more than 60 years, the success story continues thanks to the tireless efforts of Midas franchisees and employees, whose neighborhood focus and day-to-day involvement fuel the worldwide appeal of our famous brand.
Today more than ever, you can rely on Midas for expert brake repair, scheduled car maintenance, exhaust repair, new tires, oil change, steering repair, suspension systems repair, wheel alignment, and more.
Tenant Overview
Lease Summary
Address:
Tenant:
Lot Size:
Building Size:
Lease Type:
Lease Commencement:
Lease Expiration:
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Increases:
Options:
1210 N. Illinois Street, Indianapolis, IN
Midas Realty Corporation
0.40 Acres
2,968 SF
Absolute NNN
12/7/2018
12/6/2023
5+ Years
1% Annually
1, Five Year
Property Overview: Downtown
Asking Price:
Cap Rate:
NOI:
$602,270
6.30%
$37,943
Property Highlights
• Immediate access to and from I-65 (135,000 VPD)
• Strong Traffic Counts on N. Illinois Street• Located only 1 Mile North of Downtown Indianapolis• Close Proximity to multiple major Employers
• IU School of Medicine, WTHR – NBC 13 & IUPUI • N. Illinois Street serves as a major throughway to
Monument Circle (The heart of Downtown Indianapolis)
Aerial View: Downtown
Home of the Indianapolis Colts (NFL)Annual Venue for the NFL Draft Combine
Bankers Life FieldhouseHome of the Indiana Pacers
Victory FieldHome of the Indianapolis Indians
AAA Affiliate of the Pittsburg Pirates Organization (MLB)
Downtown Indianapolis is the largest employment cluster in the state of Indiana, with nearly 43,000 jobs per square mile. It is also the location to several corporate headquarters, medical centers and most of Indianapolis’ tourist attractions.
Historic Downtown Indianapolis
Parcel View: Downtown
Approximately 800 Employees
Luxury Living
Apartments
Site View: Downtown
Lease Summary
Address:
Tenant:
Lot Size:
Building Size:
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2608 E Main Street, Plainfield, IN
Midas Realty Corporation
0.63 Acres
4,171 SF
Absolute NNN
10/27/2018
10/26/2023
5+ Years
In Options
1, Five Year
Property Overview: Plainfield
Asking Price:
Cap Rate:
NOI:
$1,132,305
6.55%
$74,166
Property Highlights
• Located on Main Street in Plainfield (32,000 VPD)
• Situated directly across the street from The Shops at Perry Crossing (numerous Retailers & Restaurants)
• Close Proximity to popular Retail destinations• Target, Tractor Supply Co., Walmart Supercenter
• Large parcel with ample room for a Midas location• New Lease Extension (Dedication to the Site)
Aerial View: Plainfield
Parcel View: Plainfield
Site View: Plainfield
Lease Summary
Address:
Tenant:
Lot Size:
Building Size:
Lease Type:
Lease Commencement:
Lease Expiration:
Lease Term:
Increases:
Options:
8611 Pendleton Pike, Lawrence, IN
Midas Realty Corporation
0.86 Acres
4,455 SF
Absolute NNN
12/7/2018
12/6/2023
5+ Years
2% Annually
1, Five Year
Property Overview: Lawrence
Asking Price:
Cap Rate:
NOI:
$712,829
7.00%
$49,898
Property Highlights
• Ideal Location on Pendleton Pike
• 36,400 VPD in front of the site
• Strong Surrounding Retail
• Close Proximity to major exit on I-465 (171,740 VPD)
• Only Auto Service shop in the surrounding neighborhood
• Dedication to the site
Aerial View: Lawrence
Parcel View: Lawrence
Site View: Lawrence
Indianapolis is the capital and most populous city of the U.S. state of Indiana. As of 2017, Indianapolis is the third most populous city in the American Midwest. The Indianapolis metropolitan area is the 34th most populous metropolitan statistical area in the U.S., with 2,028,614 residents, and its combined statistical area ranks 27th, with a population of 2,411,086. Indianapolis covers 368 square miles, making it the 16th largest city by land area in the U.S.
Indianapolis anchors the 25th largest economic region in the U.S., based primarily on the sectors of finance and insurance, manufacturing, professional and business services, education and health care, government, and wholesale trade. The city is perhaps best known for annually hosting the world's largest single-day sporting event, the Indianapolis 500.
As of 2018, three Fortune 500 companies were based in the city: health insurance company Anthem Inc. (29); pharmaceutical company Eli Lilly (129); and Simon Property Group (493), the largest real estate investment trust in the U.S. Columbus, Indiana-based Cummins (149) just recently opened its Global Distribution Headquarters in downtown Indianapolis in 2017.
Area Overview: Indianapolis, Indiana
Contact Information
IEB Real Estate, LLC
20 South Central Avenue, Ste 206
Saint Louis, Missouri 63105
iebrealestate.com
(314) 833.4388
Ryan P. Wood
Investment Real Estate Advisor
Direct: (314) 797.7549
Cell: (314) 123.4567
IEB Real Estate is dedicated to creating long-term relationships with its clients, demonstrating integrity
and ingenuity in all its interactions, and above all - providing unparalleled, client-centric service.