100% Occupied Historic Retail | 29,619 SF + Parking | Downtown Indianapolis

For Sale

1201 Prospect St, Indianapolis, IN 46203

This Indianapolis property for sale is located at 1201 Prospect St. Contact the listing broker for details on the current sale price for 100% Occupied Historic Retail | 29,619 SF + Parking | Downtown Indianapolis. 100% Occupied Historic Retail | 29,619 SF + Parking | Downtown Indianapolis is situated on a lot that is 1.8 square feet in size.

Contacts

broker

Alex Davenport

broker

Rachel Patten

Colliers

Property Details

  • Property Type Retail
  • Lot Size 1.8 SF
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 69
  • Date Updated Oct 5, 2024

UNDER CONTRACT

The Fountain Square Retail Portfolio consists of 29,619 square feet across five buildings located on Prospect Street and Virginia Avenue in the heart of the historic Fountain Square entertainment district in Indianapolis. The Portfolio also includes three existing parking lots totaling 0.54 acres. The Portfolio is 100% leased to five tenants: Upland Brewing, Turchetti’s Salumeria, White Rabbit Cabaret, Paradox Enterprises, and El Arado Mexican Grill with a WALT of 3.15 years. This offering provides an investor the opportunity to acquire an extremely rare group of infill retail assets with stable in-place cash flow and near-term value-add potential as leases roll to market. In-place rents stand over 30% below today’s market rents providing an investor the opportunity to add value to the existing cash flow.

The Portfolio is located along Prospect St and Virginia Ave, the main streets of the Fountain Square neighborhood which is directly southeast of Downtown Indianapolis. Prospect St & Virginia Ave boast daily traffic counts of over 10,000 cars daily with a 3-mile population of 108,816 people and an average household income of over $66,000. The Portfolio tenant-base is a diverse, service-oriented roster serving a wide-range of consumers in the Downtown Indianapolis area.

Fully Occupied

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Getting around

  • 91/100

    Walk Score ®

  • 41/100

    Transit Score ®

  • 97/100

    Bike Score ®

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Location

  • City Indianapolis, IN
  • Neighborhood Fountain Square
  • Zip Code 46203
  • Market Indianapolis

Points of Interest

  • Canal

    2.48 miles

  • Indiana University/Riley

    2.62 miles

  • Conoco

    0.23 miles

  • Marathon

    0.28 miles

  • Speedway

    0.52 miles

  • Phillips 66

    0.52 miles

  • Phillips 66

    0.55 miles

  • Speedway

    0.92 miles

  • Speedway

    0.98 miles

  • Shell

    1.00 miles

  • Marathon

    1.05 miles

  • BP

    1.07 miles

  • Lot 35

    0.79 miles

  • Lot 48

    0.79 miles

  • Lot 98

    0.89 miles

  • Lot 43 South

    0.92 miles

  • LaRosa South

    0.95 miles

  • Lot C

    0.97 miles

  • Lot 43 North

    0.98 miles

  • Cityway North Car Park

    1.05 miles

  • Virginia Avenue Garage

    1.14 miles

  • Rolls-Royce Employee and Visitor Parking

    1.16 miles

  • Maialina Italian Kitchen + Bar

    0.01 miles

  • El Arado

    0.04 miles

  • Mama Irma

    0.04 miles

  • Pure

    0.05 miles

  • Kuma's Corner

    0.05 miles

  • Revolucion

    0.05 miles

  • La Margarita Fountain Square

    0.07 miles

  • Subway

    0.11 miles

  • NAISA Pan-Asian Restaurant

    0.11 miles

  • B's Po Boy

    0.16 miles

  • Wildwood Market

    0.14 miles

  • Village Pantry

    0.55 miles

  • Express Neighborhood Market

    0.62 miles

  • Angelo's Food Market

    0.84 miles

  • Safeway

    0.98 miles

  • Village Food Mart

    1.09 miles

  • Whole Foods Market

    1.30 miles

  • Trans-Plants

    1.34 miles

  • Kroger

    1.38 miles

  • Carson's

    1.40 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

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