IndustrialOwned
Northgate Logistics Center
8800 Northgate Pkwy, Indianapolis, IN
- Size
- 540,000 SF
- Year built
- 2021
- Acquired
- 02/10/23
- Basis
- $71.0M
- Fund
- Fund III
- Region
- Midwest
- Manager
- PropLake Commercial
- Accounting system
- Yardi
T12 NOI
$3.5M
+1.2% vs prior T12
Occupancy
100.0%
As of Aug 2026 rent roll
NOI / SF
$6.53
Trailing 12 months
Yield on cost
4.96%
T12 NOI / purchase price
DSCR
1.36x
Above 1.20x covenant
Monthly NOI
Sep 25 to Aug 26Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Debt
- Lender
- PGIM
- Balance
- $46,000,000
- Rate
- 5.62%
- Structure
- Interest only
- Maturity
- 03/01/30
- Annual debt service
- $2,585,200
- LTV on basis
- 64.8%
T12 income statement
PropLake standard chart of accounts · mapped from Yardi| Revenue | ||
| 4010Rental Income | $4,718,739 | 12 bronze rows |
| 4020Other Income | $191,613 | 12 bronze rows |
| 4030Vacancy Loss | ($239,432) | 12 bronze rows |
| Total revenue | $4,670,920 | |
| Operating expenses | ||
| 5010Payroll | $226,988 | 12 bronze rows |
| 5020Repairs & Maintenance | $161,177 | 12 bronze rows |
| 5030Utilities | $138,211 | 12 bronze rows |
| 5040Property Taxes | $252,783 | 12 bronze rows |
| 5050Insurance | $91,926 | 12 bronze rows |
| 5060Management Fees | $113,655 | 12 bronze rows |
| 5070Marketing | $46,174 | 12 bronze rows |
| 5080General & Administrative | $115,631 | 12 bronze rows |
| Total operating expenses | $1,146,545 | |
| Net operating income | $3,524,375 | |
| Below NOI | ||
| 6010Interest Expense | $2,585,196 | 12 bronze rows |
| 6020Capital Expenditures | $136,440 | 12 bronze rows |
| Net cash flow | $802,739 | |