Emerson Way

For Sale

5500 Emerson Way, Indianapolis, IN 46226

This Indianapolis property for sale is located at 5500 Emerson Way. The current listed sale price for Emerson Way is $2,727,263. Emerson Way is situated on a lot that is 2.04 acre in size.

Contacts

broker

Tim Maly

Black Gate Partners

(614) 358-2089

Property Details

  • 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

Getting around

  • 50/100

    Walk Score ®

  • 58/100

    Bike Score ®

Powered by Walk Score ®

Location

  • 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

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.

Contact Listing Broker

broker

Tim Maly

Black Gate Partners

(614) 358-2089