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The Brakeman

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Address: 230 S Lebanon St, Lebanon, IN 46052, USA

Chicago & Midwest + Apartment Buildings

Created date: February 11, 2025

Date last updated: February 11, 2025

OM & Deal Room

https://www.marcusmillichap.com/properties/172024/the-brakeman

Luxury 4-Story, Mixed-Use Building with High-Quality Finishes and Various Floor Plan Layouts
One Commercial Space is leased through 2034, Second Commencing February through 2035
Opportunity to Implement Other Income Via Bulk Internet Plan
Located in Lebanon, IN with Immediate Access to the LEAP District – a 9,000 acre Tech, Science, and Corporate Hub
Easy Access to Interstate I-65 Situated Midway Between Indianapolis and Lafayette, IN

Property Description

OM & Deal Room

https://www.marcusmillichap.com/properties/172024/the-brakeman Marcus & Millichap is pleased to present the exclusive offering of The Brakeman Apartments, a new construction apartment community located in downtown Lebanon, IN. The property consists of 44 apartment units and 2 leased commercial spaces (2,100 & 2,750 square feet respectively.) The Brakeman offers a mix of studios (6), 1-Bedroom (25), and 2-Bedroom (13) floor plans. With its stylish, high-quality finishes, and variety of unit types and amenities, the property is designed for comfort and convenience. The Brakeman’s downtown location within Lebanon provides residents easy access to local attractions, dining, and shopping, providing the perfect blend of suburban peace with urban accessibility. Located 30 miles north of downtown Indianapolis, Lebanon is a short commute to the diverse and robust Indianapolis economy driven by manufacturing, healthcare, education, and logistics. The rapid suburban expansion of Indianapolis’s northern affluent suburbs has now encompassed Lebanon as part of the Indianapolis MSA. Additionally, Lebanon is home to the LEAP district “Limitless Exploration Advanced Pace” which is a 9,000 acre hub aimed at attracting high-tech industries, research & development, and advanced manufacturing facilities which is expected to employ tens of thousands of people once completed. The district is situated along interstate I-65, providing direct access to Indianapolis and Lafeyette and is expected to draw skilled workforce from nearby markets. The Brakeman is less than 3 miles from the LEAP district, and less than 3 miles from the new Eli Lily manufacturing site. With Lebanon and the surrounding towns’ dynamic manufacturing economy, the Boone County area boasts impressive growth and demographics, and endless potential as the LEAP District continues to develop and attract major employers. Since 2010, Boone county has experienced approximately 27% population growth and in the last 4 years has averaged 3.5% rent growth year-over-year. With the expansion of the LEAP district and potentially tens of thousands of new residents moving to the county, Lebanon and surrounding markets are well-poised to experience substantial rent growth, population growth, and downward pressure on market vacancy rates.

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Key Property Information

Listing Status:	Available
Property Types:	Apartment Buildings
No. of Units:	46
Average Occupancy:	95.7
Year Built:	2023
Building Size:	32,534 Sq ft
Lot Size:	1.85 Acres
Opportunity Zone:	No
Property Website	Click Here