Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3535-3555 State Rd 38 E Lafayette, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available next to Tippecanoe Mall and Purdue University.

    Type:RETAIL
    Property size:
    6,106 SF
    Lot size:
    18.06 Acres
    Added:
    Apr 25, 2023
    Days on Market:
    1092
    Last Refresh:
    Apr 5 at 9:39 pm

    Property Features for 3535-3555 State Rd 38 E

    General Information

    Standard status
    Active
    Size
    6,106 SF
    Lot size
    18.06 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 3535-3555 State Rd 38 E Contact us

    We can help!

    Listing Contact
    Andrew Hasbrook
    Andrew Hasbrook

    Listing agent Andrew Hasbrook

    Listing office Sandor/Sand Capital - Corporate

    Listing date Apr 25, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Sandor/Sand Capital - Corporate

    Overview

    Retail Space Near Tippecanoe Mall

    This retail space is located next to Tippecanoe Mall, an 862,000-square-foot power center. The property is situated five miles from Purdue University, which has a student population of 45,869. Co-tenants include Bed Bath & Beyond and Shoe Carnival. Daily traffic counts are 24,816 on Sagamore Parkway/U.S. 52 and 15,743 on S.R. 38. The property size is 6,106 square feet and is located at 3535-3555 State Rd 38 E, Lafayette, IN.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Tippecanoe
    State
    Indiana
    Longitude
    -86.8529
    Latitude
    40.3965

    Nearby Similar for Lease

    • Contact for pricing

      Lafayette Commercial Facility for Lease

      1.25-acre commercial facility ideal for landscaping or agricultural use.
      2454 Old US Hwy 231 S, Lafayette, IN 47905
      View Details
    • $10/mo

      Retail Space in High-Traffic Center

      Highly visible retail space in well-maintained Lafayette strip center.
      1400 Teal Road, Lafayette, IN
      View Details
    • $15/mo

      Lafayette Office Space For Rent

      Office space in thriving Lafayette business park, near hospitals.
      955 MEZZANINE DR, Lafayette, IN
      View Details
    • $12/mo

      Professionally Finished Office Suites Available

      Office suites for lease in Lafayette, Indiana.
      1425 Sagamore Pkwy S, Lafayette, IN
      View Details
    • $16/mo

      Executive Office Space in Lafayette

      Premium office space in Cascada Business Park, move-in ready.
      958 Mezzanine Dr, Lafayette, IN
      View Details
    • $15/mo

      Class A Office Space Available

      Class A office space in Cascada Business Park for rent.
      823 Park E Blvd, Lafayette, IN
      View Details
    • $14/mo

      Lafayette Office Space Available

      Office space for rent in Lafayette, Indiana, 2500 square feet.
      3721 Rome Drive, Lafayette, IN
      View Details
    • Contact for pricing

      Office Space for Rent

      900 SF office space available for rent.
      1527 Kossuth St, Lafayette, IN
      View Details
    • Contact for pricing

      Professional Office Space for Lease

      2080 SF office space near Tippecanoe Mall.
      200 Professional Court, Lafayette, IN
      View Details
    • Contact for pricing

      Heated Warehouse with Floor Drainage

      10,000 SF heated warehouse space available for lease.
      3600 State Rd 38 E, Lafayette, IN
      View Details
    • $10/mo

      Downtown Lafayette Office Space Available

      Office suite in a brick building with ample parking.
      200 Ferry St, Lafayette, IN
      View Details
    • $9/mo

      Retail/Office Space with Ample Parking

      High-visibility retail or office space with easy access and parking.
      311 Sagamore Pkwy N, Lafayette, IN
      View Details

    FAQs

    What type of property is this?
    Shopping mall - Retail space available next to Tippecanoe Mall and Purdue University.
    Where is this shopping mall located?
    The property is located at 3535-3555 State Rd 38 E Lafayette, IN.
    What are key features of this property?
    This property features: Located next to Tippecanoe Mall, an 862,000 sf power center.; Five miles from Purdue University with 45,869 students.; High daily traffic counts of 24,816 on Sagamore Pkwy./U.S. 52.
    (877) 925-9011 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Andrew Hasbrook
    Andrew Hasbrook
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!