BINFORD BUSINESS CENTER OFFERING MEMORANDUM · Marcus & Millichap is pleased to present for sale...

BINFORD BUSINESS CENTER5060 E. 62nd St Indianapolis, IN. 46220 SQ. FT.: 36,831 SF | +/- 4.07 ACRES

OFFERING MEMORANDUM

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is

intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made

available to any other person or entity without the written consent of Marcus & Millichap. This Marketing

Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to

establish only a preliminary level of interest in the subject property. The information contained herein is not a

substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and

makes no warranty or representation, with respect to the income or expenses for the subject property, the future

projected financial performance of the property, the size and square footage of the property and improvements,

the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and

Federal regulations, the physical condition of the improvements thereon, or the financial condition or business

prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The

information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;

however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has

Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or

representation whatsoever regarding the accuracy or completeness of the information provided. All potential

buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a

service mark of Marcus & Millichap Real Estate Investment Services, Inc.

© 2017 Marcus & Millichap. All rights reserved.

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified

in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply

affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or

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PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NON – ENDORSEMENT NOTICE

CONFIDENTIATLITY & DISCLAIMER

PRESENTED BY

Forest BenderSenior Associate

Associate Director - National Office

and Industrial Properties Group

Indianapolis Office

Office: (317) 218-5346

Cell: (765) 748-6570

License: IN: RB14049223 / IN: AB21405968

[email protected]

Joseph DiSalvo First Vice President Investments

Senior Director - National Office and Industrial

Properties Group, National Healthcare Group

Indianapolis Office

Office: (317) 218-5334

Cell: (317) 410-8788

License: IN: RB14051407

[email protected]

mailto:[email protected]


PROPERTY ANALYSISPAGE #05

PROPERTY OVERVIEW

REGIONAL MAP

LOCAL MAP

AERIAL MAP

02

03

FINANCIAL ANALYSISPAGE #15

OPERATING STATEMENT

TENANT SUMMARY

MARKET OVERVIEW PAGE #19

MARKET ANALYSIS

DEMOGRAPHIC ANALYSIS

01

TABLE OF CONTENTS

PROPERTY

ANALYSIS01

BINFORD BUSINESS CENTER5060 E. 62nd St Indianapolis, IN. 46220

36,831 SFRENTABLE BUILDING AREA

93.48 %OCCUPANCY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the

information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-

sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property.Marcus & Millichap Real Estate

Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACTID ZAB0260062

$2,929,000OFFERING PRICE

5060 E. 62nd St

Indianapolis, IN. 46220BINFORD BUSINESS CENTEROFFERING HIGHLIGHTS

8.25%CAP RATE

$79.53PRICE / SF

$241,637NET OPERATING INCOME

7

Marcus & Millichap is pleased to present for sale the Binford Business Center, in Indianapolis, IN. The Property is situated on a roughly 4.07 acre parcel and occupies a

36,831 square-foot flex building. The Binford Business Center is 94% occupied by a wide variety of local tenants ranging from retail use to more heavily office tenants and

some flex space users. Historically, the asset has been very well occupied, per CoStar, the vacancy rate for flex product within a 2 mile radius of this asset sits at just

1.7%.

The positioning of the asset, just off Binford Blvd, has traffic counts of just over 36,000 vehicles per day. Binford Boulevard, leads into downtown Indianapolis, as well as

turns into Interstate 69 just north of this asset, which is one of the largest North/South thoroughfares through the state. Interstate 465, the major beltway around

Indianapolis is just a 4 minute drive from this asset as well, making this location easily accessible for the majority of the city.

There are over 211,897 people living in a 5 mile radius of this site and the Indianapolis MSA has a population of roughly 869,012 residents. Average Household income

is $93,348 in a one-mile radius of this location.

BINFORD BUSINESS CENTER

• Multi-Tenant Flex Property with Phenomenal Real Estate Fundamentals

• Surrounded by Many National, Regional, and Local Retailers

• Upside in Below Market Rents with Potential to Recapture for Expenses in New Leases

• Phenomenal Visibility Just off Binford Blvd with Traffic Counts of over 36,000 VPD

• High Historical Occupancy Provides Great Stability to a New Investor

INVESTMENT HIGHLIGHTS

5060 E. 62nd St Indianapolis, IN. 46220

TOTAL BUILDING SF

36,831 SF

TOTAL BUILDINGS

01

TOTAL UNITS

13

IN-PLACE OCCUPANCY

93.48%

NUMBER OF STORIES

01


MULTI-TENANT FLEX

AsphaltPARKING SURFACE

400 Spaces Available | Ratio of 1.00/1,000 SFPARKING

49-02-33-115-021.000-800APN

Class B OfficeZONING

I-69 | I-465 | SR 37 | Binford Boulevard | 41 Minutes to Indianapolis Int’l AirportHIGHWAY ACCESS

Fee SimpleTYPE OF OWNERSHIP

FlatTOPOGRPAHY

Concrete SlabFOUNDATION

Fire ResistantFRAMING

MasonryEXTERIOR

FlatROOF

Roof-MountedHVAC

Sprinkler SystemFIRE PROTECTION

SQ. FT. : 36,831 SF | +/- 4.07 ACRES

1968YEAR BUILT

MULTI-TENANT FLEX



LOCAL MAP



REGIONAL MAP




MULTI-TENANT FLEX

FINANCIAL

ANALYSIS02

OPERATING STATEMENT5060 E. 62nd St Indianapolis, IN. 46220


Price: 2,929,000$ First Loan Amount: 75.00% 2,196,750$

Down Payment (1st): 25.00% 732,250$ Terms: 4.50% interest (1)

Current CAP: 8.25% 25 yr. amortization

Pro Forma CAP: 8.46% 5 yr. term

Approx. Gross Square Feet: 36,831 Monthly Payment: 12,210.25$ (2)

Cost per Gross Square Foot: 79.53$

Zoning: Commercial Second Loan Amount: -$

Parking Spaces: 106 Spaces Terms: 6.50% interest (3)

Site Area (Acres): 4.07 Acres 20 yr. amortization

Year Built: 1987 5 yr. term

Net Down Payment: 25.0% $732,250 Monthly Payment: -$ (4)

For the 12 Months Starting: June 2020 June 2025 UTILITIES

Utilities 18,891$

Gross Potential Rent: 392,651$ 405,365$ -$

CAM Recapture: 18,516$ 18,516$ -$

Tax Recapture: 3,969$ 4,297$ -$ 18,891$

Insurance Recapture: 352$ 381$

Mgmt. Recapture: -$ -$ COMMON AREA MAINTENANCE

Base Stop Recapture: -$ -$ R&M 8,004$

Other Income -$ -$ Grounds / Landscaping / Snow 15,687$

HVAC 3,040$

Scheduled Gross Income: 415,489$ 428,560$ Misc. 1,451$

Vacancy 24,917$ 6.35% 20,268$ 5.00% Expense Cushion 20,000$

-$

Effective Gross Income: 390,573$ 408,291$ -$

Less Expenses: 148,936$ 160,634$ -$

-$ 48,182$

Net Operating Income: 241,637$ 8.25% 247,657$ 8.46%

Capital Reserves: 9,208$ $0.25/SF 9,208$ $0.25/SF Total CAM / Utilities $1.82 67,073$

Loan Payments: 146,523$ 146,523$ Real Estate Taxes (4) $1.65 60,840$

Pre Tax Cash Flow: 85,906$ 11.73% 91,926$ 12.55% Insurance $0.15 5,400$

Plus Principal Reduction: 48,665$ 58,243$ Management Fees (3) 4.0% 15,623$

Total Expenses: 148,936$

Total Return Before Taxes: 134,571$ 18.38% 150,169$ 20.51% Per Rentable Square Foot: 4.04$

CURRENT & PRO FORMA OPERATING DATA

UNDERWRITING ASSUMPTIONS

(2)PROJECTED EXPENSES

Expenses calculated from 2019 income statement(s).

Management fees calculated at a projected market

value at 4% of EGI.

RE taxes have been calculated using Marion County's

2.34% millage rate and the property's reassessed value.

Proposed Financing is based upon current market rates.

(1)PROPOSED FINANCINGSUMMARY

*ASSUMES TAXES ARE

REASSESSED UPON SALE*


BINFORD BUSINESS CENTERTENANT SUMMARY

Approx. % of Ctr Current Lease Current Current Approx. Increase Increase Annual Annual Annual Annual Base Option

Rentable vs Total Term Expiration Monthly Annual Annual Effective Annual CAM TAX INS MGMT. Stop Terms

Suite Tenant Sq.Ft. Space Start End Rent Rent ($) Rent/SF Date Rent/SF Reimb. Reimb. Reimb. Reimb. Reimb.

Jan-21 9.69$

100 Humble Creations Studio 4,800 13.03% Nov-19 Dec-26 3,800$ 45,600$ 9.50$ Jan-22 9.88$ 2,462$ -$ -$ -$ -$ Two (5) Year Options

Jan-23 10.08$

108 Vacant 2,400 6.52% 2,000$ 24,000$ 10.00$ -$ -$ -$ -$ -$

Aug-20 11.32$

114 Webster's Sporting Goods 2,403 6.52% Aug-18 Jul-22 2,200$ 26,400$ 10.99$ Aug-21 11.66$ -$ 3,969$ 352$ -$ -$ One (5) Year Option

Jan-00

Jul-20 7.64$

120 Visions Delectable Creations 2,593 7.04% Jan-20 Jan-23 850$ 10,200$ 3.93$ Feb-21 10.18$ 2,434$ -$ -$ -$ -$ Two (3) Year Options

Feb-22 11.57$

Jun-21 13.50$

116 & 118Express Employment 2,370 6.43% Jun-16 May-23 2,613$ 31,361$ 13.23$ Jun-22 13.77$ -$ -$ -$ -$ -$

Jan-00

Apr-21 10.14$

122 Stepping Stone Child Care Ministries6,815 18.50% Apr-15 Apr-23 5,643$ 67,719$ 9.94$ Apr-22 10.34$ 13,620$ -$ -$ -$ -$ Three (1) Year Options

Jan-21 9.08$

124 & 126Great Harvest Bread Co 4,898 13.30% Sep-17 Dec-24 3,600$ 43,200$ 8.82$ Jan-22 9.36$ -$ -$ -$ -$ -$ Two (4) Year Options

Jan-23 9.64$

Aug-20 16.56$

128 The Milk Bank 4,660 12.65% May-15 Jul-22 6,305$ 75,662$ 16.24$ Aug-21 16.89$ -$ -$ -$ -$ -$ Three (1) Year Options

Aug-20 9.94$

130 Stay Dry Roofing 1,570 4.26% Aug-18 Nov-22 1,275$ 15,300$ 9.75$ Aug-21 10.14$ -$ -$ -$ -$ -$

Aug-22 10.34$

Dec-20 8.12$

132 Awn Cleaning 1,569 4.26% Dec-17 Nov-22 1,040$ 12,480$ 7.95$ Dec-21 8.28$ -$ -$ -$ -$ -$

Jan-00

136 Merry Maids 2,753 7.47% Aug-07 Jul-22 2,190$ 26,280$ 9.55$ Jan-00 -$ -$ -$ -$ -$

Jan-00

36,831 100.00% 31,517$ 378,202$ 18,516$ 3,969$ 352$ -$ -$

Occupied 34,431 93.48% 93.65% 354,202$ 10.29$ 18,516$ 3,969$ 352$ -$ -$

Vacant 2,400 6.52% 6.35% 24,000$ 10.00$ -$ -$ -$ -$ -$

Notes:

1)

2)

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information.

References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Copyright Marcus & Millichap, 1998

The following tenants have termination options: Webster's Sporting Goods.

The Milk Bank & Merry Maids operate on base year leases that the owner is currently not collecting any income on.


MULTI-TENANT FLEX

MARKET

OVERVIEW03

The Indianapolis metro is situated in central Indiana and consist of 11 counties: Marion, Johnson,

Hamilton, Boone, Hendricks, Morgan, Hancock, Shelby, Brown, Putnam and Madison. The metro

lacks formidable development barriers except, for the several rivers and creeks that traverse the

region. Marion County is home to Indianapolis, the capital city, which contains a population of

861,000 people. Carmel in Hamilton County is the second most populous with nearly 92,000

residents. A large portion of the surrounding counties are rural, offering builders ample land for

residential and commercial development. Population growth is primarily concentrated to the northern

suburbs and west of the city.

METRO HIGHLIGHTS

Around 50% of the U.S. population lies within a one-day drive of

Indianapolis, making it a center for the transportation of goods.

Eli Lilly & Co., Roche Diagnostics Corp. and Covance Inc. maintain

operations in the region, among other major health-related employers.

Indianapolis’ costs are far below national averages, attracting

businesses and residents to the area.

LOW COST OF DOING BUSINESS

MAJOR HEALTH SCIENCES CENTER

PREMIER DISTRIBUTION HUB

INDIANAPOLIS OVERVIEW

INDIANAPOLISMARKET OVERVIEW

20

• Indianapolis underwent an economic renaissance during the past two decades, diversifying from a

manufacturing-based economy into a variety of other employment sections

• The metro is one of the key health-sciences centers in the Nation, anchored by several pharmaceutical

and life-sciences companies.

• The metro is accessible to a large portion of the nation in one day by ground or air, making the region a

burgeoning logistics and distribution hub.

• Annual GMP tops the national level, a trend that is set to persist over the next five years.

MAJOR AREA EMPLOYERSo Eli Lilly & Co.

o Indiana University Health

o Rolls-Royce Corp.

o Community Health

o Kroger

o IUPUI

o FedEx

o Roche Diagnostics

o Finish Line

16%PROFESSIONAL AND

BUSINESS

SERVICES

22%

13%GOVERNMENT

10%LEISURE

AND

HOSPITALITY

TRADE,

TANSPORTATION

AND UTILITIES

9%MANUFACTURING

4%OTHER

SERVICES

6%FINANCIAL

ACTIVITIES

5%CONSTRUCTION

+ 15%EDUCATION AND

HEALTH SERVICES

%

1%INFORMATION

SHARE OF 2016 TOTAL EMPLOYMENT

21

ECONOMY

• The metro is expected to add nearly 79,400 people and approximately 37,800 households

through 2022.

• Household incomes near the national median have afforded 66 percent of households to

own their homes.

• Roughly 29 percent of residents age 25 and older have earned a bachelor’s degree; of these

residents, 9 percent also hold a graduate or professional degree.

2018 POPULATION BY AGE

7%0-4

YEARS

21%5-19

YEARS

6%20-24

YEARS

28%

25-44

YEARS

26%

45-64

YEARS

13%65+

YEARS

QUALITY OF LIFEIndianapolis offers residents many big-city amenities in an affordable, small-town atmosphere. The city is home to several high-profile

auto races, including the Indianapolis 500 and Brickyard 400. Races are hosted at the Indianapolis Motor Speedway and the Lucas

Oil Raceway at Indianapolis. The metro has two major league sports teams: the Indianapolis Colts (NFL) and the Indiana Pacers

(NBA). The area also has a vibrant cultural and arts scene, with more than 200 art galleries and dealers, the Indianapolis Symphony

Orchestra and a variety museums, including the Eiteljorg Museum of American Indians and Western Art. Additionally, the Children’s

Museum of Indianapolis is one of the largest children’s museums in the world.

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

DEMOGRAPHICS

22

* ForecastSources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

Marcus & Millichap makes no representations as to the accuracy of the information contained herein. Buyer must verify all information and bears all risk for any inaccuracies.

36.4

2018MEDIAN AGE:

U.S. Median:

38.0

$57,700

2018 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$58,800

2M

2018POPULATION:

Growth2018-2023*:

5.9%

784K

2018HOUSEHOLDS:

6.5%

Growth2018-2023*:

INDIANAPOLIS

Delivery Decline From Last Year’s Cyclical Peak Will

Tighten Vacancy and Push Rent Growth

INDIANAPOLIS METRO AREA5060 E. 62nd St Indianapolis, IN. 46220

23

A slower office construction pace bodes well for the market. Just 40,000 square feet

of office inventory has been finalized in the past six months and deliveries for the full

year of 2019 will decrease sharply from last year’s robust pace. The surge in

inventory during 2018 resulted in an annual 90-basis-point rise in the vacancy rate,

moving up from the cyclical low registered one year earlier. Fewer additions during

2019 will allow the supply/demand imbalance to even out, especially in the Keystone

Crossing and Carmel areas, where the majority of the recent deliveries are located.

As more space is absorbed this year, the vacancy rate will tighten and push the

average asking rent higher.

Build-to-suit projects dominate construction pipeline to accommodate corporate

expansions. The largest project due in 2019 is the new headquarters for KAR Auction

Services in Carmel at 250,000 square feet. The company is planning to add 400

workers to its staff at the facility. Infosys is also growing. The first building in its new

141-acre campus at the old Indianapolis airport terminal site is underway. The

125,000-square-foot building is due to be completed in 2020. The tech firm has also

penned a lease for 73,300 square feet in downtown Indianapolis. Carmel is expected

to receive the greatest portion of this year’s new inventory. In addition to KAR’s

headquarters, the mixed-use Midtown West development will include 100,000 square

feet of office inventory, the majority of which will be the corporate home of Merchants

Bank.

* Cap rates trailing 12 months through 1Q19

Sources: CoStar Group, Inc.; Real Capital Analytics

Investment Trends

Office 2019 Outlook

550,000 sq. ft. will be

completed

1.5% increase in

asking rents

40 basis point

decrease in vacancy

Construction:

Rents:

Vacancy:

The highest delivery pace since 2008 was

set last year when developers finalized

roughly 960,600 square feet. This year

completions fall to 550,000 square feet.

As vacancy contracts, the average asking

rent will advance to a new high of $19.89 per

square foot in 2019, building on last year’s

2.4 percent jump.

A slower delivery pace and rising demand

push absorption above new inventory,

lowering vacancy to 10.9 percent at year end

and erasing last year’s rise.

• The metro’s growing tech and logistics sectors and the potential for higher

returns are producing renewed interest in Indianapolis office assets from a

wide range of investors. Some are coming from other product types, while

others are new to commercial real estate. The expanding buyer pool has

increased competition for listings, requiring a strong opening offer to be

successful.

• As the supply of available properties tightens in the desired north side of the

metro, buyers seeking higher yields are searching in the south metro. Class

B/C assets in areas of high population growth, such as Greenwood, generally

traded at cap rates above 8 percent during the past 12 months ending in

March.

• Medical office assets are the target of many out-of-state investors at cap

rates that begin in the low-6 percent area. Over the past four quarters, the

average sale price approached $200 per square foot, although premium

buildings with quality tenants can trade for more than $500 per square foot.

INDIANAPOLIS METRO AREA5060 E. 62nd St Indianapolis, IN. 46220

24

1Q-19 – 12-MONTH TREND

• Following the creation of 16,600

jobs one year ago, employers

added 11,600 workers to payrolls

over the past four quarters, a 1.1

percent rise. Office-using hiring

did not fare as well, declining 0.2

percent, as 600 positions were

lost.

• The unemployment rate has

remained below 4 percent for 11

consecutive quarters, making it

more difficult for organizations to

find qualified workers.

EMPLOYMENT

• Although no office buildings

were completed in the first

three months of 2019,

developers finalized 790,000

square feet year over year in

March, up slightly from

740,000 square feet in the

previous four quarters.

• Builders also have 770,000

square feet under

construction with deliveries

scheduled into 2020. Of this

total, 140,000 square feet is

medical office.

CONSTRUCTION

• Negative absorption during

the past 12-month period

drove vacancy to 11.3 percent

in March, erasing a large

portion of the prior period’s

120-basis-point increase.

• New inventory and higher

rents are having an impact on

Class A vacancy. The rate in

these buildings rested at 17.1

percent in the first quarter of

2019, nearly twice as high as

the rate in the Class B/C

buildings at 8.6 percent.

VACANCY

• The jump in the vacancy rate

hampered rent gains. After a 5.4

percent vault was posted one

year ago, the average asking

rent crept up to $19.33 per

square foot in March.

• The rate in Class B/C space held

back overall rent growth. The

average asking rent in this class

decreased 0.7 percent to $17.93

per square foot during the past

four quarters as older space

returned to the market. Class A

rent climbed 2.6 percent to

$22.31 per square foot.

RENTS

increase in the

average asking rent

Y-O-Y

0.5%basis point decrease

in vacancy Y-O-Y90square feet

completed

Y-O-Y

790,000increase in total

employment Y-O-Y1.1%

* Forecast

INDIANAPOLIS METRO AREA

25

SUBMARKET TRENDS

Increased Competition Motivates More

Investors to Expand Search Criteria

Outlook: A slowdown in deliveries

coupled with new and expanding tech

and logistics firms in the metro will keep

investor interest piqued.

Vacancy

Rate

Y-O-Y

BasisPoint

Change

SubmarketAsking

Rent

Y-O-Y%

Change

Far South Counties 1.3% -80 $18.00 2.4%

Far West Counties 7.1% 50 $15.54 -0.4%

East County 7.7% 210 $14.10 -1.6%

Downtown 9.1% 20 $20.92 0.0%

South County 9.2% 200 $19.34 5.7%

North County 13.70% 170 $20.30 1.20%

Northeast County 13.7% 180 $19.48 1.4%

Northwest county 13.9% 30 $18.26 0.0%

West County 16.2% 280 $16.41 -1.0%

Southwest County 17.2% -70 $10.61 -9.2%

Far North Hamilton

County18.7% -310 $18.74 10.3%

Overall Metro 11.3% 90 $19.33 0.5%

Lowest Vacancy Rates 1Q19*

Sales Trends

• Sales activity climbed 6 percent since the beginning of April 2018, with Class B/C

assets receiving additional buyer attention. Although buildings in Indianapolis are

favored, more investors are willing to move farther from the core into Greenwood,

Westfield and Zionsville.

• The average price rose 3 percent to $133 per square foot over the past four quarters

even though more Class B/C assets traded. During this time, the average cap rate

dipped 30 basis points to 7.1 percent, the lowest rate in 20 years.

** Trailing 12 months through 1Q19 over previous time period

* Includes submarkets with more than 1 million square feet of inventory

Pricing trend sources: CoStar Group, Inc.; Real Capital Analytics

*1Q19

**2018

DEMOGRAPHICSBINFORD BUSINESS CENTER5060 E. 62nd St Indianapolis, IN. 46220

26

Source: © 2019 Experian

POPULATION 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Population 6,703 75,184 212,706

▪ 2018 Estimate


▪ 2010 Census


▪ 2000 Census


▪ Current Daytime Population

2018 Estimate 8,285 78,080 259,932

HOUSEHOLDS 1 Miles 3 Miles 5 Miles

▪ 2023 Projection

Total Households 2,919 34,107 93,621

▪ 2018 Estimate


Average (Mean) Household Size 2.32 2.21 2.27

▪ 2010 Census


▪ 2000 Census


HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles

▪ 2018 Estimate

$200,000 or More 7.54% 4.95% 4.63%

$150,000 - $199,999 5.02% 4.71% 4.51%

$100,000 - $149,000 15.14% 12.91% 11.45%

$75,000 - $99,999 10.31% 10.39% 10.05%

$50,000 - $74,999 19.28% 19.07% 17.17%

$35,000 - $49,999 15.25% 15.12% 14.50%

$25,000 - $34,999 11.96% 11.42% 12.28%

$15,000 - $24,999 9.92% 11.06% 11.57%

Under $15,000 8.10% 10.84% 13.77%

Average Household Income $93,348 $78,374 $73,735

Median Household Income $58,208 $52,357 $47,378

Per Capita Income $40,482 $35,326 $32,277

POPULATION PROFILE 1 Miles 3 Miles 5 Miles

▪ Population By Age

2018 Estimate Total Population 6,671 74,417 211,897

Under 20 23.96% 22.39% 24.13%

20 to 34 Years 23.77% 24.24% 25.02%

35 to 39 Years 5.89% 6.24% 6.55%

40 to 49 Years 11.42% 10.99% 11.21%

50 to 64 Years 21.45% 20.48% 19.17%

Age 65+ 13.53% 15.69% 13.92%

Median Age 36.82 37.59 35.59

▪ Population 25+ by Education Level

2018 Estimate Population Age 25+ 4,636 52,909 145,477

Elementary (0-8) 0.44% 1.38% 2.26%

Some High School (9-11) 3.16% 5.47% 7.76%

High School Graduate (12) 19.14% 21.98% 22.98%

Some College (13-15) 17.76% 19.86% 19.62%

Associate Degree Only 8.85% 7.07% 6.60%

Bachelors Degree Only 29.17% 28.24% 25.71%

Graduate Degree 20.66% 15.26% 14.25%

CREATED ON JANUARY 2020


Income

In 2019, the median household income for your selected geography is

$47,378, compare this to the US average which is currently $58,754.

The median household income for your area has changed by 10.45%

since 2000. It is estimated that the median household income in your

area will be $54,841 five years from now, which represents a change

of 15.75% from the current year.

The current year per capita income in your area is $32,277, compare

this to the US average, which is $32,356. The current year average

household income in your area is $73,735, compare this to the US

average which is $84,609.

Population

In 2019, the population in your selected geography is 211,897. The

population has changed by 0.90% since 2000. It is estimated that the

population in your area will be 212,706.00 five years from now, which

represents a change of 0.38% from the current year. The current

population is 46.92% male and 53.08% female. The median age of

the population in your area is 35.59, compare this to the US average

which is 37.95. The population density in your area is 2,694.03 people

per square mile.

Households

There are currently 92,213 households in your selected geography.

The number of households has changed by 2.29% since 2000. It is

estimated that the number of households in your area will be 93,621

five years from now, which represents a change of 1.53% from the

current year. The average household size in your area is 2.27 persons.

Employment

In 2019, there are 140,166 employees in your selected area, this is

also known as the daytime population. The 2000 Census revealed

that 68.74% of employees are employed in white-collar occupations

in this geography, and 31.06% are employed in blue-collar

occupations. In 2019, unemployment in this area is 3.79%. In 2000,

the average time traveled to work was 24.00 minutes.

Race and Ethnicity

The current year racial makeup of your selected area is as follows:

52.46% White, 38.08% Black, 0.04% Native American and 2.49%

Asian/Pacific Islander. Compare these to US averages which are:

70.20% White, 12.89% Black, 0.19% Native American and 5.59%

Asian/Pacific Islander. People of Hispanic origin are counted

independently of race.

People of Hispanic origin make up 7.02% of the current year

population in your selected area. Compare this to the US average of

18.01%.

Housing

The median housing value in your area was $157,548 in 2019,

compare this to the US average of $201,842. In 2000, there were

53,061 owner occupied housing units in your area and there were

37,088 renter occupied housing units in your area. The median rent at

the time was $541.

Source: © 2019 Experian

5060 E. 62nd St

Indianapolis, IN. 46220

DEMOGRAPHICS

Joseph DiSalvo First Vice President Investments

Senior Director - National Office and Industrial

Properties Group, National Healthcare Group

Indianapolis Office

Office: (317) 218-5334

Cell: (317) 410-8788

License: IN: RB14051407

[email protected]

PRESENTED BY

Forest BenderSenior Associate

Associate Director - National Office

and Industrial Properties Group

Indianapolis Office

Office: (317) 218-5346

Cell: (765) 748-6570

License: IN: RB14049223 / IN: AB21405968

[email protected]



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