Retail Strip Center Anchored by
For Sale
Contact for pricing
Pending
1540 S Washington St, Crawfordsville, IN 47933
Six-thousand-plus square foot strip center anchored by Jimmy John’s and AT&T with 100% occupancy under triple-net leases.
Property Size6,500 SF
Days on Market56
Property Features for 1540 S Washington St
General Information
Standard status
Pending
Size
6,500 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$69,540
Additional Details
Cap Rate
8%
Highway Access
Yes
Building Details
Year Built
1998
Units
3
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Indianapolis
(317) 218-5329
Listed By:
Nathan Whalen · License #IN AB21402364
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 4 at 1:18PM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
This 6,500 square foot retail strip center is 100% occupied with three tenants, anchored by Jimmy John’s and AT&T. The property is structured with triple net leases covering 85% of the GLA, with the remaining 15% not currently under triple net. The center benefits from scheduled base term increases, including AT&T and Xing Li, while Jimmy John’s has an increase pending renewal.
The property is located along U.S. 231 in Crawfordsville, Indiana, within a dense retail corridor that includes national retailers such as Kroger, Rent-a-Center, Applebee’s, McDonald’s, Starbucks, Burger King, Domino’s, and Arby’s in the surrounding area. It is adjacent to AMC Theatre and Goodwill, and additional retailers listed down the street include Walmart, Home Depot, Runnings, Culver’s, Buffalo Wild Wings, and Aldi.
For buyers seeking an income-producing retail asset, the tenancy is anchored by recognizable brands and includes 87% of the GLA leased through at least 2029, with zero rollover until at least 2028. The property is offered for sale at an 8.00% cap rate, with additional rent growth potential scheduled for 2027 as base term increases take effect.
The property is located along U.S. 231 in Crawfordsville, Indiana, within a dense retail corridor that includes national retailers such as Kroger, Rent-a-Center, Applebee’s, McDonald’s, Starbucks, Burger King, Domino’s, and Arby’s in the surrounding area. It is adjacent to AMC Theatre and Goodwill, and additional retailers listed down the street include Walmart, Home Depot, Runnings, Culver’s, Buffalo Wild Wings, and Aldi.
For buyers seeking an income-producing retail asset, the tenancy is anchored by recognizable brands and includes 87% of the GLA leased through at least 2029, with zero rollover until at least 2028. The property is offered for sale at an 8.00% cap rate, with additional rent growth potential scheduled for 2027 as base term increases take effect.
Key Highlights
- 6,500 SF retail strip center in Crawfordsville, IN anchored by Jimmy John’s and AT&T
- 100% occupied with three tenants; triple‑net leases cover 85% of GLA
- Strong 8.00% cap rate reported; potential upside to convert the remaining 15% to triple‑net
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 47933, IN
28,092
Population
12,254
Households
2.3
Avg Household Size
41
Median Age
20%
College-Educated
88%
High-School Grad
235.7 sq mi
ZIP Area
119
Density / Sq Mi
$61,968
Median Household Income
$39,343
Median Earnings
$822
Median Rent
$176,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Six-thousand-plus square foot strip center anchored by Jimmy John’s and AT&T with 100% occupancy under triple-net leases.
Where is this strip mall located?
The property is located at 1540 S Washington St Crawfordsville, IN.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: 6,500 SF retail strip center in Crawfordsville, IN anchored by Jimmy John’s and AT&T; 100% occupied with three tenants; triple‑net leases cover 85% of GLA; Strong 8.00% cap rate reported; potential upside to convert the remaining 15% to triple‑net
