Business Spotlight: Promise Road Business Park
Promise Road Business Park Offers Unique, Customizable Offices For Local Companies
It is a well-known fact that Fishers is a great location for starting and developing a business. At the intersection of Promise Road and 126 Street on Promise Creek Lane, lies a unique opportunity for small business owners who are ready for their next growth phase.
Promise Road Business Park closes a real estate gap by offering the chance to own a space tailored to specific needs. The concept is geared to the idea that owning real estate and building equity makes better sense than leasing office space and paying monthly rent.
Developer and co-owner Doug Martin realized the potential for the property, which already had two existing buildings when he and his partners purchased it. Built before the 2008 recession, the first phase buildings were originally slated to be joined by a third and fourth. The property languished for a while until it was bought by an individual who rented out the existing units. Martin acquired it with the intent to follow the initial plan and build the additional two buildings, but sell the spaces within them instead of renting them.
“For a small business owner, it’s a no-worry investment,” Martin says. “An entrepreneur can make a small investment and pay themselves rent. The location gives exposure since Interstate 69 runs past the property and business names can be seen on the upper part of the building.”
The first two existing buildings have proven to be great investments for their owners. Both buildings are completely full. Owners include a technology marketing agency, a financial planner, an insurance agency, a landscaper, a pond maintenance company, an exercise facility, a chiropractor, a dentist and even a small church. The second phase, erecting buildings three and four, is currently in the pre-sale period. The resulting 38 units are expected to be ready for occupancy in the second quarter of 2020.
“During the pre-sale period, owners can customize their space the way they want it,” Martin adds. “The size of the units could be increased by putting two or more together. The price is affordable for a small business starting at $150,000.”
Paul Dick of Resource Commercial Real Estate and agent for the property explains the concept’s flexibility, “We are basically delivering a ‘box’ with four walls, a concrete floor, an electric panel, water and sewer line to the customer. The space has incredible utility since the owner can design it the way they want. The size of the units ranges from 1,260 to 1,625 square feet and they are high enough that a mezzanine or second floor could be built. The industrial zoning classification allows buyers a wide range of uses and build-out such as offices, warehouse or even boat and RV storage.”
“These units, at the very least, will hold their value,” Martin adds. “When someone owns one of these units, they are creating an investment with increasing value. Owning their own space gives small businesses an asset versus nothing.”
For more information on Promise Road Business Park contact Doug Martin at 317-432-8917 or email.