450 Saint John Rd - Storefront FOR SALE


Michigan City, IN 46360
$4,007,275 USD
630-368-8609
450 Saint John Rd, Michigan City, IN for Sale
$4,007,275 USD
Storefront - FOR SALE
1/11
null | 8% Cap Rate

450 Saint John Rd
Michigan City, IN 46360


HIGHLIGHTS

  • Planet Fitness Anchor
  • Service-Based Tenant Mix
  • Highly Active Regional Retail Corridor
  • Exceptional Frontage & Visibility
  • Locational Advantage Booming Michigan City Market
  • Tax Advantage – LaPorte County

OVERVIEW

CBRE is pleased to present qualified investors the unique opportunity to acquire Marquette East, a 66,270-square-foot shopping center strategically positioned in the growing market of Michigan City, Indiana. Marquette East is anchored by Planet Fitness who recently exercised two, five-year options through 2033 demonstrating their long-term commitment to the Property. Planet Fitness is joined by a diverse line-up of internet-resistant, service-based retailers including GNC, LaPorte County Convention & Visitors Bureau, and Sake Asian Fusion. Further, the Property is attached to Marquette Mall. Marquette East is located at the prime intersection of Franklin Street and US Highway 20, a corridor home to dominant national retailers including Meijer, Walmart, Lowe’s, Menards, AMC, and more. Further, Michigan City is experiencing an economic boom due to many current and planned developments underway. These projects include the $311 million mixed-use SoLa development and the $101 million Franklin Street apartment units. At 69.2% occupied, Marquette East offers investors the opportunity to acquire an asset with significant upside potential located in a growing market and dominant retail corridor.

FOR SALE DETAILS

PRICE

$4,007,275 USD

PRICE/SF

$10 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Marquette East

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Health Club, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

350

LAND DETAILS

LAND ACRES

21.32 AC

LAND SF

928,590 SF

ZONING

B-2

APN/PARCEL ID

46-05-05-476-014.000-009

ASK ABOUT THIS PROPERTY

Adam ForetCBREMore Info
630-368-8609

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Adam ForetCBREMore Info
630-368-8609

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