2141 Sagamore Pky S - Retail FOR SALE


Lafayette, IN 47905
$1,305,000 USD
317-218-5316
2141 Sagamore Pky S, Lafayette, IN for Sale
$1,305,000 USD
Retail - FOR SALE
1/4
null | 6.24% Cap Rate

2141 Sagamore Pky S
Lafayette, IN 47905


HIGHLIGHTS

  • Operates under a triple-net lease, whereas tenant reimburses landlord for CAM, Property Taxes and Insurance and landlord collects a 15% CAM Admin fee
  • Located along Sagamore Parkway S (30K VPD), adjacent to the Tippecanoe Mall, an indoor regional mall and surrounded by numerous national retailers
  • Major retailers close by: BestBuy, Menards, Texas Roadhouse, Planet Fitness, Dunkin, Arby’s, Starbucks, McDonald’s, Dick’s Sporting Goods, Kohl’s
  • Visionworks exercised their first renewal option early showing strong commitment to the subject site
  • Lafayette is driven by a combination of major economic drivers: Purdue University (Big Ten University) and major employers Subaru & Caterpillar

OVERVIEW

The Klink Group of Marcus & Millichap is pleased to exclusively present for sale the Visionworks property located in Lafayette, Indiana. The subject offering is a single-tenant, net-leased retail asset positioned along Sagamore Parkway, one of Lafayette’s most heavily trafficked retail and commercial corridors, with approximately 30,000 vehicles-per-day. Originally constructed in 2016 as a build-to-suit for Visionworks, the property is situated on 0.48 acres at the signalized-intersection of Sagamore Parkway South and Teal Road. The site benefits from exceptional visibility and access and is directly adjacent to Tippecanoe Mall, a dominant regional indoor mall owned and operated by Simon Property Group. Visionworks recently exercised its first five-year renewal option early, demonstrating strong commitment to the location. The lease features three remaining five-year renewal options, each with 10 percent rental increases, providing investors with long-term income growth and stability. The tenant operates under a triple-net (NNN) lease structure, reimbursing the landlord for common area maintenance, property taxes, and insurance, while the landlord collects a 15 percent CAM administrative fee. This offering represents an ideal opportunity for passive investors seeking high-quality, net-leased real estate in a dense and established retail corridor, anchored by a national tenant with proven site commitment and built-in rental escalations.

FOR SALE DETAILS

PRICE

$1,305,000 USD

PRICE/SF

$543 USD /SF

CAP RATE

6.24%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Visionworks

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

-

APN/PARCEL ID

79-07-34-252-005.000-005

ASK ABOUT THIS PROPERTY

Jordan KlinkMarcus & MillichapMore Info
317-218-5316

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Jordan KlinkMarcus & MillichapMore Info
317-218-5316

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