12955 Old Meridian Street is aretail property for lease in Carmel, IN.
Offer price of $4.48 million is a 7.46% cap rate/yield on 2014 income. Property is 100% leased with stable tenants. Well located in Carmel, one of the fastest growing cities in the nation and one of the most affluent submarkets in the Indianapolis MSA. Anchor tenant, Performers Edge, has been located at the property since 1996. 2nd largest tenant, Bureau of Motor Vehicles, offers State of Indiana credit strength. Long-term significant rent upside. Current rents below competition. Asset priced below replacement cost. Positioned to benefit from the new Major Moves interchange at US 31/131st Street.
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