LA Fitness, Goodwill, & Baggerstown Retail FOR SALE


Noblesville, IN - Noblesville/Durbin
$16,000,888 USD
317-316-3561
, Noblesville, IN for Sale
$16,000,888 USD
Retail - FOR SALE
1/4
null | 7.41% Cap Rate

LA Fitness, Goodwill, & Baggerstown
Noblesville, IN
Noblesville/Durbin


HIGHLIGHTS

  • Invest in a premier retail opportunity in a high-traffic shopping hub located within the affluent suburban Indianapolis community of Noblesville.
  • Significant site renovations include roof renovations, plumbing & electrical repairs, and a new HVAC system, along with additional tenant investments.
  • Benefit from long-term tenancy from national tenants LA Fitness and Goodwill and the newly established Baggerstown, a local entertainment venue.
  • This property features NNN leases with minimal landlord responsibilities and a weighted average lease term (WALT) of 8.5 years.
  • Diverse rent escalations include 4% and 10% increases every five years and 3% annual increases, offering investors a built-in hedge against inflation.
  • Situated in a bustling commercial corridor surrounded by a robust collection of national retailers, proximate to many residential neighborhoods & I-69

OVERVIEW

16640 & 16650-16680 Mercantile Boulevard offers an exceptional opportunity to acquire two fully occupied retail buildings within the vibrant Stoney Creek Commons Shopping Center in Noblesville, Indiana. This 11.39-acre site comprises a total of 84,226 square feet and 546 parking spaces. Supported by strong corporate guarantees and long-term tenants, the property is home to a mix of prominent national businesses, including LA Fitness and Goodwill Industries and local tenant Baggerstown, a new cornhole entertainment venue. Significant enhancements have been made to the site, including roof renovations, plumbing and electrical repairs, and a new HVAC system. Additional investments have been made by the tenants to enhance operations, including the addition of various fitness equipment and weight machines at LA Fitness. Also, Baggerstown is set to invest nearly $2 million into the property, encompassing space improvements, specialized furnishings, equipment, and essential personal property. Situated within a dense retail corridor, a robust collection of national retailers attracts traffic to the area. Within a half-mile radius, there are numerous retailers such as Walmart Supercenter, Kohl’s, Chick-fil-A, Bob Evans, Wendy’s, Chili’s, Steak ‘n Shake, White Castle, Aldi, Best Buy, T.J. Maxx, Barnes & Noble, Dollar Tree, and more. The property is positioned in a prime shopping center, demonstrating strong performance with impressive traffic metrics, attracting 3.2 million visits and 549,900 unique visitors annually, along with an average of 5.79 visits per customer each year. Noblesville is an affluent area boasting high net-worth demographics, ensuring long-term demand and community growth. Located adjacent to Huntington Avenue (±35,000 VPD), the property offers convenient access to key thoroughfares in Indianapolis, including Interstate 69, which experiences over 60,000 VPD. This location provides easy connectivity to Downtown Indianapolis, the largest city in Indiana, as well as to major suburbs such as Fishers and Carmel. Within a 5-mile radius of the asset is a population of ±120,123 with a median household income of ±$94,476 and a population growth rate of ±2.50%. Noblesville has increased its population by nearly 20% since 2017. Exclusively Listed By: Tim Hain | Senior Director | 312.366.3584 | thain@tradenetlease.com Carson Jeremiah | Associate Director | 469.949.7540 | cjeremiah@tradenetlease.com Katie Berg | Associate Director | 904.806.5801 | cberg@tradenetlease.com Camille Renshaw | CEO & Co-Founder | 646.770.0659 | crenshaw@tradenetlease.com In association with Cooper Laikin | IN License #: RB16000763

ASK ABOUT THIS PROPERTY

Tim HainB + EMore Info
317-316-3561

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

Tim HainB + EMore Info
317-316-3561

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