303-399 E 81st Ave - Storefront FOR SALE


Merrillville, IN 46410
$6,270,000 USD
972-482-0111
303-399 E 81st Ave, Merrillville, IN for Sale
$6,270,000 USD
Storefront - FOR SALE
1/15
null | 6.76% Cap Rate

303-399 E 81st Ave
Merrillville, IN 46410


HIGHLIGHTS

  • Premium Class "A" Asset: 100% leased, 18,215 SF retail center with e-commerce-resistant tenants.
  • Top 7% Panera Anchor: Features a high-volume drive-thru; ranks in the top 7% of Panera locations nationwide.
  • Built-In NOI Growth: Contractual rental escalations provide a reliable inflation hedge.
  • Elite Core Location: High-visibility intersection (East Lincoln Hwy & Broadway) seeing 87,000+ VPD.
  • Proven Tenant Stability: Exceptional historical commitment with an average tenant tenure of 14+ years.
  • Affluent Chicago Suburb: Surrounded by powerhouse retailers (Costco, Target, Walmart) serving 100,000+ residents within 5 miles.

OVERVIEW

Marcus & Millichap is pleased to present the exclusive opportunity to acquire a 100% fee simple interest in Century Plaza, a premier, 100% occupied Class "A" retail strip center located in Merrillville, Indiana, within the prominent Chicago MSA. Spanning 18,215 square feet on approximately 1.64 acres, the property features a highly successful, internet-resistant tenant roster heavily oriented toward dining and daily services. The center is anchored by a top-tier Panera Bread with a dedicated drive-thru, which stands as a top-performing location ranked in the top 7% nationwide. The asset boasts excellent historical stability, showcasing nationally recognized brands like Panera Bread, Qdoba, and Plato's Closet. Century Plaza is strategically positioned at the high-traffic intersection of East Lincoln Highway (the area's main retail corridor) and Broadway, benefiting from an exceptional combined traffic count of over 87,000 vehicles per day. Situated within a dense and affluent southern Chicago suburb, the property serves a captive market of over 100,000 residents with average household incomes exceeding $80,000 within a 5-mile radius. Offered free and clear of debt, Century Plaza provides an incoming investor with an immediate, secure, and predictably growing cash flow backed by an institutional-quality retail asset.

FOR SALE DETAILS

PRICE

$6,270,000 USD

PRICE/SF

$344 USD /SF

CAP RATE

6.76%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Century Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

1.64 AC

LAND SF

71,438 SF

ZONING

R33

APN/PARCEL ID

45-12-22-301-022.000-030

ASK ABOUT THIS PROPERTY

William Kim, CCIMMarcus & MillichapMore Info
972-482-0111

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William Kim, CCIMMarcus & MillichapMore Info
972-482-0111

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