We are offering the Guaranty Building (98,852 square feet) for sale for $12,500,000 which is only $126.45 per square foot. The stabilized year one proforma Net Operating Income is projected to be $1,000,081 (8.00% Cap Rate). The land lease includes the Option to Purchase the land for $1,000,000 so if the Buyer includes the land, the price of $13,500,000 is only $136.57 per square foot with a 7.70% Cap Rate in Year One. We feel a buyer should be able to place very favorable first mortgage financing on the property. Current major tenants include ExactTarget, McMains LaPointe, Barnard & Associates, The Indianapolis Arts Council, John Lewis & Wilkins, Windsor Jewelers and Au Bon Pain.

This ten-story building, plus a lower level property is approximately 98,852 gross square feet. Built in 1923, the Guaranty Building has been renovated in 1955, 1987, late 1990’s and 2005-2007. The most recent renovations include a new HVAC system, new elevator controls and finishes, a new roof, and build out of most of the leased spaced. The Guaranty Building is located in the Monument Circle Historic District but it is NOT registered with the National Register of Historic Places.

The Guaranty Building is located at 20 North Meridian Street, with approximately 79.7 feet of storefronts on Monument Circle and the commercial office entrance on Meridian Street has 86 feet of frontage.