631 E State Road 32 - Storefront FOR SALE


Westfield, IN 46074
$6,600,000 USD
217-799-9393
631 E State Road 32, Westfield, IN for Sale
$6,600,000 USD
Storefront - FOR SALE
1/18
null | 6.81% Cap Rate

631 E State Road 32
Westfield, IN 46074


HIGHLIGHTS

  • Median HH Income (3-mile): $95,301
  • Located at the signalized intersection of Hwy 32 & Oak Ridge Rd
  • Traffic Counts: 26,740 VPD (State Road 32)
  • 0.5 miles from new Meijer; adjacent to national brands (CVS, Chick-fil-A, Chipotle)
  • Across from Grand Park Sports Campus (400-acre facility, 31 fields)
  • Fast-growing Westfield, IN: Ranked 6th fastest-growing U.S. city (2023)

OVERVIEW

Oak Ridge Shoppes presents a rare opportunity to acquire a 100% leased, newly constructed (2019) retail strip center located in the high-growth market of Westfield, IN. Anchored by nationally recognized and regional tenants—including Tropical Smoothie Café, PT Solutions, and Thai Isaan—the property benefits from strong in-place cash flow with scheduled rent escalations and triple net leases. Located at a high-visibility intersection along State Road 32, the center is adjacent to Grand Park Sports Campus and numerous national retailers. Tenants are responsible for taxes, insurance, and CAM, minimizing landlord obligations. The site features a durable tenant mix with service-based and dining concepts, and benefits from proximity to over 600 apartment units and a new Meijer store. With average rents over $35/SF and NOI of $449,777, this asset offers investors a stabilized 6.82% cap rate and long-term income growth potential. The offering is ideal for out-of-state investors seeking a low-maintenance, recession-resistant retail investment in one of Indiana’s most affluent and fastest-growing communities.

FOR SALE DETAILS

PRICE

$6,600,000 USD

PRICE/SF

$494 USD /SF

CAP RATE

6.81%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oak Ridge Shoppes

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

76

LAND DETAILS

LAND ACRES

2.25 AC

LAND SF

98,010 SF

ZONING

-

APN/PARCEL ID

29-09-02-000-004.001-015

ASK ABOUT THIS PROPERTY

Shannan FletcherJSM CommercialMore Info
217-799-9393

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Shannan FletcherJSM CommercialMore Info
217-799-9393

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