+/- 37,000 SF Multi-Tenant Industrial Building on 4.57 Acres

Investment Overview

SVN | Northern Commercial is pleased to present 510 Indianapolis Ave for sale, a +/- 37,000 SF multi-tenant heavy industrial property on 4.57 acres in Lebanon, IN. The offering presents a rare opportunity to acquire a multi-tenant industrial asset with nearly three acres of additional outdoor storage. The property appeals to both owner-users and investors, with 11,800 SF of warehouse space available for immediate owner-user occupancy (contact broker for details). The building has recently undergone extensive renovations - roof coating, yard base & expansion, full office remodel, all new LED lighting, new drive-in doors, exterior paint, new gutters, and more. Currently, the property is leased to three (3) tenants, generating approximately $341,488 in NOI/year (11.57% going in Cap Rate). Given Lebanon's significant growth over the past five years (Eli Lilly expansion, LEAP district, etc.), the asset is well-positioned for continued appreciation and rent growth over the coming years.

Investment Highlights

• Multi-tenant industrial building w/ +/- 3 acres outdoor storage
• Current NOI: $341,488 | Going in Cap: 11.57%
• Many recent renovations - roof coating, yard expansion, LED lighting, etc.
• Excellent connectivity to Highway I-65, downtown Lebanon, and downtown Indianapolis
• Owner-user opportunity: 11,800 SF of warehouse space available immediately
• Three (3) exterior loading docks for convenient loading/unloading