4023-4025 W 3rd St - Storefront Retail/Office FOR SALE


Bloomington, IN 47404
$2,864,300 USD
480-205-7637
4023-4025 W 3rd St, Bloomington, IN for Sale
$2,864,300 USD
Storefront Retail/Office - FOR SALE
1/9
null | 7.5% Cap Rate

4023-4025 W 3rd St
Bloomington, IN 47404


HIGHLIGHTS

  • Anchor tenant CSL Plasma (subsidiary of credit-rated CLS Limited) occupies over 50% of the GLA with a lease commitment through 2034.
  • Significant retail corridor with Kroger, Lowe’s, Menards, HomeGoods, PetSmart, Michaels, T.J. Maxx, Shoe Carnival, Office Depot, Planet Fitness, CVS
  • Bloomington is home to Indiana University, with over 47,000 students and 2,500 faculty members providing a consistent customer base for the tenants.
  • Generating additional income of $3,720 through pylon signage rental to Big Red Liquors and Cloverleaf Restaurant.
  • Half a mile proximity to the entrance and exit to I-69 (44k VPD).
  • Multiple access points, including left hand turn in and out.

OVERVIEW

Bellagio Real Estate Partners, LLC is pleased to present The Highland Shoppes, a three-tenant real estate investment opportunity located at 4023 W 3rd St, Bloomington, IN. This 19,700 SF shopping center sits on 1.52 acres along a highly trafficked corridor half a mile from I-69 (44,000 VPD), offering excellent visibility and accessibility. The asset is anchored by CSL Plasma, a division of CSL Limited, a global biopharmaceutical company with investment-grade credit ratings from S&P (A-) and Moody’s (A3) which indicate a stable outlook. CSL Plasma occupies 10,000 SF (over 50% of total GLA) and provides a long-term income stream, with a lease expiration in 2034 and two 5-year renewal options, creating a stable foundation for this investment. The center is further complemented by Cloverleaf Family Restaurant, a longstanding local eatery that recently underwent a remodel, and Rent-A-Center, a national lease-to-own retailer. Cloverleaf operates under a NNN lease through 2028 with scheduled annual rent increases and two 5-year renewal options, while Rent-A-Center is on a below-market gross lease through 2025 with no options, providing flexibility and value-add opportunity for an investor.

FOR SALE DETAILS

PRICE

$2,864,300 USD

PRICE/SF

$145 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Highland Shoppes

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

125

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

MM

APN/PARCEL ID

53-09-01-201-001.000-016

ASK ABOUT THIS PROPERTY

Brad TeitelbaumBellagio Real Estate Partners LLCMore Info
480-205-7637

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Brad TeitelbaumBellagio Real Estate Partners LLCMore Info
480-205-7637

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.