For Sale $2,727,263
Property Type Retail
Property Size 24,691 SF
Lot Size 2.04 Acre
Additional Rent Contact for pricing
Property Tenancy Multi-Tenant
Year Built 1972
Date Updated May 13, 2024

Located at the Southwest Corner of E. 56th Street and Emerson Way near Cathedral High School.BlackGate Partners, on behalf of ownership, is happy to present the offering of Emerson Way Shopping Center located in northeast Indianapolis right on Emerson Way. This 24,691 square foot building is a prime neighborhood center located near the intersection of Emerson Way and E. 56th Street directly across the street from a Walmart Neighborhood Market. The site offers plenty of parking, excellent visibility and is located near Cathedral High School.This 24,691 square foot building is a prime neighborhood center located near the intersection of Emerson Way and E. 56th Street directly across the street from a Walmart Neighborhood Market. The site offers plenty of parking, excellent visibility and is located near Cathedral High School.

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Highlights

Dollar General Anchored Shopping Center | In-Place Through April 2029
95% Occupied, 24,691 SF Value-Add Shopping Center in Indianapolis, IN
Low Price PSF at $110 - Well Below Replacement Cost
Immediate Upside Potential! Add Nearly $40,000 to the NOI Within 12 Months
Projected 9.40% Cap Rate After 1 Year of Ownership With:
- Lease Up of 1,200 SF Vacancy
- Convert Two Existing Tenants to Market Rent
- Convert One Gross Lease to NNN
Recent Shopping Center Improvements: Partial Roof Replacement, Facade Renovation, Painting, Pylon Sign Renovation and Parking Lot Work
73% of Tenants Have Been Here Over 10 Years
Strong Visibility and Location with Plentiful Parking
Located Across From a Walmart Neighborhood Market
Combined Traffic Counts of 30,000+ VPD at Emerson Way and E 56th

Contacts

Tim Maly

Black Gate Partners

(614) 358-2089

Location

Getting Around

Walk Score ®
50/100 Car-Dependent
Bike Score ®
58/100 Bikeable

Map
Street

City Indianapolis, IN
Neighborhood Millersville
Zip Code 46226
Market Indianapolis

Points of Interest

Methodist

6.04 miles
Canal

6.43 miles
Indiana University/Riley

7.08 miles
Indianapolis Union Station

7.38 miles

Speedway

0.13 miles
Speedway

1.13 miles
Speedway

1.64 miles
Ricker's

1.84 miles
Speedway

2.10 miles
Marathon

2.33 miles
Kroger Fuel Center

2.35 miles
BP

2.39 miles
Speedway

2.39 miles
Mobil

2.40 miles

bus

2.07 miles
Cumulus Parking lot

2.85 miles
Cumulus Parking Lot

2.86 miles
Walnut Trailhead Parking

3.08 miles
Back-In Parking

3.22 miles
Fresh Thyme/The Coil Parking Garage

3.30 miles
Broad Ripple Garage

3.31 miles
East Parking Pavilion

3.34 miles
Lawrence Creek Trailhead Parking

3.52 miles
Ironworks Hotel

4.31 miles

American Pizza Company

0.11 miles
Blind Owl Brewery

1.15 miles
Subway

1.80 miles
Mousetrap

1.80 miles
Wendy's

1.80 miles
Rally's

1.81 miles
Steak 'n Shake

1.87 miles
McDonald's

1.90 miles
Buffalo Wild Wings

1.91 miles
Robert E. Kennington, American Legion Post 34

1.95 miles

Walmart Neighborhood Market

0.18 miles
Big Lots

1.18 miles
KB International Inc

1.77 miles
ALDI

1.80 miles
Target

1.90 miles
Meijer

1.94 miles
Macy's

1.96 miles
Kroger

2.25 miles
Kroger

2.39 miles
Nicole Taylor's Pasta Market

2.75 miles

Frequently Asked Questions

How much does Emerson Way cost?

The space currently listed for sale at Emerson Way asks for $2,727,263.

What is the total square footage of Emerson Way?

Emerson Way totals 24,691 square feet.

When was this property built?

Emerson Way was built in 1972.

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