Updated Dec 12, 2024
Time Equities, Inc Acquires 55,000-Square-Foot Industrial Warehouse In Indianapolis For $3.275M
1840 Midwest Boulevard
$3,275,000
$59/SF
Building Size
55,000 SF
Asset Type
Industrial
Closing
Jan 25, 2024
About this deal
AI
Time Equities, Inc. has acquired a 55,000-square-foot industrial warehouse located at 1840 Midwest Boulevard in Indianapolis, Indiana. The property, which was sold for $3.275 million, is 94 percent leased and is anchored by R&R Plumbing, a Berkshire Hathaway affiliate.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,275,000
- Size: 55,000 square feet
- Price per Square Foot: $60
- Address: 1840 Midwest Boulevard, Indianapolis, IN
- Market: Indianapolis, IN
The acquisition was facilitated by Brian Dell, Ryan Kelly, and Tony Hupp from Colliers International, who acted as brokers in the transaction representing Max Pastor and Brian Soto from Time Equities, Inc.
On the Map
$3,275,000
$59/SF
Industrial
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Players
Indianapolis Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.84%
Cash-on-Cash
-1.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93