4140 E Market St - Freestanding FOR SALE


Logansport, IN 46947
$2,142,000 USD
248-688-0630
4140 E Market St, Logansport, IN for Sale
$2,142,000 USD
Freestanding - FOR SALE
1/9
null | 7.2% Cap Rate

4140 E Market St
Logansport, IN 46947


HIGHLIGHTS

  • Strong Tenant Lineup | Newly Signed Leases | NNN Leases | Scheduled Rental Increase | Drive-Thru Equipped
  • Located Along Main Retail Corridor | Dense Trade Area | Surrounding Shopping Centers | Outparcel to The Home Depot
  • Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a two-tenant, NNN leased, newly built retail strip located in Logansport, IN. The tenants, T-Mobile (corporate) and McAlister’s Deli (franchisee), recently signed brand new 10-year leases with 2 (5-year) option periods to extend, demonstrating their commitment to the site. Both tenants feature scheduled rental increases, growing NOI and hedging against inflation. In addition, both tenants operate under NNN lease structures, limiting expense leakage for a future investor (see rent roll). Furthermore, McAlister’s Deli is equipped with an end-cap drive-thru lane, which provides ease and convenience for customers. The two-tenant strip is strategically located along Market Street with clear visibility and access to an average of 13,200 vehicles passing by daily. Market Street serves as the main retail corridor in Logansport and connects to numerous additional commuter routes. The subject is ideally situated within a dense trade area and is near Eastgate Plaza (59K+ SF), Cass Plaza (209K+ SF), and other shopping centers. In addition, the property lies as an outparcel to a 97K+ SF Home Depot, significantly increasing the location’s attraction. The additional national/credit tenants include Walmart Supercenter, Harbor Freight Tools, Rural King, Martin’s Supermarket, ALDI, and others. The strong tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes crossover store exposure. Moreover, the asset is near numerous single-family communities and multi-family complexes including River Bend Apartments (102 units), Pinecrest Manor Apartments (102 units), Cass Plaza Apartments (82 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by 24,900 residents and 15,000 daytime employees, with a healthy average household income of $72,436.

FOR SALE DETAILS

PRICE

$2,142,000 USD

PRICE/SF

$437 USD /SF

CAP RATE

7.2%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

T-Mobile & McAlister's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

61,148 SF

ZONING

C-1

APN/PARCEL ID

09-17-28-240-003.000-010

ASK ABOUT THIS PROPERTY

Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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Michael CarterSRS Real Estate PartnersMore Info
248-688-0630

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