Walgreens Ranked Top 18 Locally For Visits Fills… — Sale in Indianapolis, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Indianapolis, IN 46237

Investment Figures

Cap rate
8.25%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

This high-performing Walgreens investment opportunity offers an absolute triple-net (NNN) lease with a corporate guarantee, six years remaining, and 10 additional 5-year renewal options. The store is among the top 18% of Walgreens locations locally by visits, filling a competitive void in the market, with the nearest Walgreens located 3 miles away. The property is situated on a large-acre lot with ample parking, benefiting from strong demand due to a significant lack of pharmacies in the surrounding areas. Located at a high-traffic hard-corner site, the property benefits from proximity to Interstate 65, downtown Indianapolis, and key demand drivers such as Franciscan Health and local schools. The market is growing, with over 15% population growth from 2010-2020 and expected future growth of 2.4-2.69% by 2028, paired with an average household income of $109,553 within a 1-mile radius. Investment Highlights: • Absolute triple-net (NNN) lease with a corporate guarantee with 6 years of term remaining. • Among the top 18% of Walgreens locations locally by visits (per Placer.ai). • Fills a competitive void for Walgreens and other pharmacies. Significant lack of pharmacies to the south and east—the closest is 21 miles southeast and over 35 miles east. • Hard-corner site at Southport Rd & Shelbyville Rd with 39,588 VPD (vehicles per day). • Sits on the gateway to a dense residential pocket.

Market Context

This retail in Indianapolis, IN is listed for sale. It is offered at an approximate 8.2% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 100 days. Compare it against other retail listings for sale in Indianapolis, IN — view the full market.

As of Q1 2026, the Indianapolis retail market showed an 8.0% vacancy rate, average asking rents near $5.00/SF/yr, and rents up 4.0% year over year. Source: Cushman & Wakefield Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

Is the Indianapolis retail market tightening or softening?
Vacancy is around 8.0%, with asking rents rising year over year (Q1 2026).

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