Former Burger King 3750 N Illinois St

Investment Highlights

261,931 Population within 5-Mile Radius of Site | 45,000+ Vehicles Per Day ay the Intersection of 38th and Illinois Street Only 4 Miles North of the Downtown Indianapolis | Easily Accessible by North Meridian and North Illinois Street Located Approximately One Mile Away from the Children?s Museum (1.3 Million Visitors Per Year) | Ranked No. 1 for Best Children's Museum Located in Dense Retail Corridor | Retailers Include McDonald?s, Family Dollar, Subway, Tide Cleaners, Dollar General, BP Gas Station, and More In Close Proximity to Numerous Universities Including: Butler University (5,000+), Marian University Indianapolis (~3,000), and Ivy Tech Less then Two Miles from Indiana State Fairgrounds (1 Million+ Visitors Annually) | Home to the Indiana State Fair (6th Oldest in the US)

Executive Summary

Marcus and Millichap is pleased to present for your acquisition review the Dark Burger King in Indianapolis, Indiana.This Dark Burger King location is positioned right off of the 38th Street and N Illinois Street intersection, providing great visibility. 38th Street has almost 32,000 vehicles travel on it per day, and N Illinois Street has over 13,800. The 3,450 square foot building is drive-thru equipped, and is located in a dense retail corridor, giving future opportunity for increased retail traffic. Retail traffic drivers include McDonald?s, Family Dollar, Subway, Tide Cleaners, Dollar General, BP Gas Station, and more. Although historically a successful sales location, the tenant vacated the property in 2020 with four years left on the lease. Although the tenant no longer occupies the property, they continue to pay monthly rent through November of 2024.The property is located just over 4 miles away from Downtown Indianapolis, making it easily accessible, especially since it can be accessed by continuing south on N Illinois Street. There are three universities within a five-mile radius including Butler University, Marian University Indianapolis, & Ivy Tech. The Children?s Museum, located two miles from the property, was recently ranked No.1 on the 2023 USA Today Best Readers? Choice Travel Award Contest for Best Children?s Museum. The Museum attracts an average of 1.3 million visitors each year. Also located close by are the Indiana State Fairgrounds, which is home to the Indiana State Fair, the Indianapolis Fuel Minor League Hockey Team, as well as over 400 other events bringing in over one million visitors combined.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Fast Food
• Building Size    3,312
• Building Class    C
• Year Built    1999
• Price    950,000
• Price Per SF    287
• Cap Rate    11.37
• NOI    108,000
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.10
• Land Acres    0.76 AC

• Signage
• Drive Thru
• Air Conditioning