Plainfield Strip Center For
2028 Stafford Road, Plainfield, IN 46168
Prime strip center in Plainfield, fully leased with upside.
Type:Retail
Property size:
7,564 SFPrice / SF:
$223/SF- Added:
- Mar 29, 2023
- Days on Market:
- 1160
- Last Refresh:
- May 13 at 8:09 pm
Property Features for 2028 Stafford Road
General Information
- Standard status
- Active
- Size
- 7,564 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1981
Listing agent Jason Alsup
Listing office eXp Realty, LLC (888) 611-3912
Listing date Mar 29, 2023
Source Xome
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 eXp Realty, LLC
HighLights
- Prime location next to Traders Point Church.
- All 6 units are currently leased, providing immediate income.
- Opportunity to increase rental rates upon lease expiration.
- State Farm is a main tenant with a renewed 10‑year lease.
- Excellent visibility and access from State Road 267 and Stafford Rd.
- Fresh exterior paint and new handicap curb cut for accessibility.
Overview
A strip center is available for purchase in Plainfield, Indiana. The property is adjacent to the new Traders Point Church, which occupies the former Marsh grocery store location. All six units within the strip center are currently leased. The building's exterior has been recently painted, and a new handicap curb cut has been added to provide wheelchair access to the units. The property benefits from high visibility on State Road 267 and also has access from Stafford Road. One of the main tenants is State Farm, which recently renewed their lease for a 10-year term. The current owner has been increasing rents toward market rates, and the new owner has the opportunity to further increase rental rates as leases expire, potentially increasing cash flow. The property size is 7564 square feet.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $136.2k | $18.00 |
| − Vacancy | −$6.0k | −$0.79 |
| EGI | $130.2k | $17.21 |
| − OpEx | −$39.0k | −$5.16 |
| NOI | $91.1k | $12.05 |
7,564 SF · lease $18.00/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.30M
$1.14M – $1.52M
NOI $91,113 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $132,913 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Simply Custom Apparel
Textile Manufacturer
Jim Flanagan - State ...
Insurance Agency
Better Hearing Inc
Medical Clinic
Indy Smoke Shop
(Bike/Boat/Book/etc) Store
BLAZE Salon off ...
Hair Salon
Location Insight
- Map
- Local Demand
- City
- Plainfield
- County
- Hendricks
- State
- Indiana
- Longitude
- -86.372523
- Latitude
- 39.699311
Nearby Similar for Sale
FAQs
What type of property is this?
Strip mall - Prime strip center in Plainfield, fully leased with upside.
Where is this strip mall located?
The property is located at 2028 Stafford Road Plainfield, IN.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Prime location next to Traders Point Church.; All 6 units are currently leased, providing immediate income.; Opportunity to increase rental rates upon lease expiration.
