2129-2171 US 41 - Storefront FOR SALE


Schererville, IN 46375
$3,920,000 USD
812-320-8483
2129-2171 US 41, Schererville, IN for Sale
$3,920,000 USD
Storefront - FOR SALE
1/5
null | 8.5% Cap Rate

2129-2171 US 41
Schererville, IN 46375


HIGHLIGHTS

  • Priced Well Below Replacement Cost at $141 Per Square Foot
  • Located in an Affluent Indiana Suburb of Chicago
  • Average Household Income Exceeds $123,000 Within a 3 - Mile Radius

OVERVIEW

Oakside Plaza is a 28,245 Square Foot Service-Based Neighborhood Center that is 100% Occupied and Sits on a Main Retail Artery (US Hwy 41) with 39,470 VPD, Located in an Affluent Bedroom Community 30 Miles Outside of Chicago    The Center is Occupied by 12 Tenants and Anchored by Anytime Fitness Which is the Largest Gym Chain in the World, Operating 5,500 Locations. Anytime Fitness' Parent Company, Purpose Brands’, 2024 Revenues are Estimated at $3.5 Billion   Value Add Opportunities - Ability to Increase Rents from the Current Under Market Average of $12.83/SF, Convert ~22% Gross Leases to NNN as Staggered Lease Terms Rollover, and Offset Taxable Income with Down Syndrome Association Annual Donation To Landlord – Tax Savings Not Underwritten but See Agents for Details   Priced Well Below Replacement Cost at $138 Per Square Foot and Located in an Affluent Indiana Suburb of Chicago, Where the Average Household Income Exceeds $123,000 Within a 3-Mile Radius   Bricks & Minifigs Occupies 12% of the Center on a New 10 Year NNN Lease, and Operates 200+ Locations in the US and Canada Where You Can Buy, Sell and Trade Lego Products    Schererville is Known as the "Crossroads of the Nation" as it Sits at the Intersection of US Hwy 30 & US Hwy 41, Two Major National Highways    Schererville is Experiencing a Population and a Development Boom - 100,000+ Residents Moved from Illinois to Indiana Between 2021 - 2024 Making it One of the Largest Interstate Migration Flows in the Midwest    Over $100 Million is Planned in Public Infrastructure, Plus Hundreds Of Millions of Private Residential and Commercial Developments Planned. Projects Include Luers Tree Farm Subdivision with 750 Homes, Canyon Creek with 200 Homes, and the Kennedy Avenue Expansion Project Totaling $75 Million that will Transform North-South Connectivity in Schererville

FOR SALE DETAILS

PRICE

$3,920,000 USD

PRICE/SF

$139 USD /SF

CAP RATE

8.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oakside Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

129

LAND DETAILS

LAND ACRES

3.67 AC

LAND SF

159,865 SF

ZONING

Commercial

APN/PARCEL ID

45-11-16-303-004.000-036

ASK ABOUT THIS PROPERTY

Damien YoderMarcus & MillichapMore Info
812-320-8483

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Damien YoderMarcus & MillichapMore Info
812-320-8483

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