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Kroger | 13yrs Remain Abs NNN w/ Incrses 10679 N Michigan Rd

65,182 SF Retail Building Zionsville, IN 46077 $25,277,742 CAD ($388 CAD/SF) 6% Cap Rate

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Investment Highlights

13 years remaining on lease with 5 (5-year) option periods to extend
Extremely affluent demographics with AHHI of $198k within 1 mile radius
30 minutes from Downtown Indianapolis, the United States’ 16th largest city

Located along North Michigan Road (51,000 VPD)
5% rental increases every 5 years throughout the initial term and options
Surrounding tenants including ALDI, The Home Depot, Marshalls, Best Buy, Petco, Kohl’s, Costco Wholesale, and others

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade, freestanding, Kroger investment property located in Zionsville, IN (Indianapolis MSA). Kroger has an additional 13 years remaining on lease, demonstrating their commitment to the site. The lease features 7% rental increases every 5 years throughout the initial term, growing NOI and hedging against inflation. The lease is absolute NNN, making it an ideal, management-free investment opportunity for a passive investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Supermarket

Building Size

65,182 SF

Building Class

Year Built

1999

Price

$25,277,742 CAD

Price Per SF

$388 CAD

Cap Rate

NOI

$1,516,693 CAD

Tenancy

Single

Building Height

1 Story

Loading Docks

3 Exterior

Building FAR

0.16

Land Acres

9.61 AC

Zoning

B-2 - Business District

Parking

450 Spaces (6.9 Spaces per 1,000 SF Leased)

Frontage

486 ft on W 106th St

Amenities

Signage

Accommodation and Food Services
99,999 SF
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At Jersey Mike’s, they offer a sub above, one that’s measured in more than inches or seconds ‘til served. They carefully consider every aspect of what they do: every slice, every sandwich, every store. They provide their customers with sustenance and substance too. At Jersey Mike’s, they think customers should give for one reason and one reason only: to give. Their culture of giving at Jersey Mike’s is as much a part of their heritage as oil and vinegar. They believe that making a great sub sandwich and making a difference can be one in the same. Every store they open starts by partnering with a charity in the local community. Because the way they see it, a sub’s job isn’t done at simply tasting good. A sub should do good too. It started back in 1956, in this actual storefront location and was originally called Mike's Subs. Mike opened the small shop in the sea-side town of Point Pleasant, New Jersey. To survive and thrive, they had to offer exceptional quality products.