2141 Sagamore Pky S - Retail FOR SALE


Lafayette, IN 47905
$1,225,000 USD
317-218-5316
2141 Sagamore Pky S, Lafayette, IN for Sale
$1,225,000 USD
Retail - FOR SALE
1/4
null | 6.65% 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
  • Lease features rental increases in each of the remaining three, five-year renewal options
  • 10 Yr operating history & site committment through recent renewal option
  • Located along Sagamore Parkway S, the main thoroughfare through Lafayette that experiences +/-30K VPD
  • Adjacent to the Tippecanoe Mall, an indoor regional mall and surrounded by numerous national retailers

OVERVIEW

The Klink Group of Marcus & Millichap is pleased to present for sale a single-tenant, net-leased Visionworks property located at 2141 Sagamore Parkway South in Lafayette, Indiana—one of the city’s most dominant retail corridors. The asset is strategically positioned along Sagamore Parkway, which experiences approximately 30,000 vehicles per day and is surrounded by a dense concentration of national retailers and regional traffic drivers, including Tippecanoe Mall. The property is leased to Visionworks under a triple-net (NNN) lease structure, providing investors with a passive income stream and minimal landlord responsibilities. The tenant reimburses for common area maintenance (CAM), real estate taxes, and insurance, while the landlord benefits from an additional 15% CAM administrative fee. The lease is corporately guaranteed and currently has over five years of remaining term, offering near-term stability with built-in upside through three, five-year renewal options featuring 10% rental increases in each period.

FOR SALE DETAILS

PRICE

$1,225,000 USD

PRICE/SF

$509 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Visionworks

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Convenience Store, Fast Food, Freestanding

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.