Tractor Supply-Anchored Shopping
New
For Sale
$2,670,000
889 N Gospel St, Paoli, IN 47454
Fully occupied neighborhood retail property with triple-net leases and extended tenant commitments.
Property Size43,910 SF
Lot Size6.02 Acres
Price / SF$60.81
Days on Market2
Property Features for 889 N Gospel St
General Information
Standard status
Active
Size
43,910 SF
Lot size
6.02 Acres
Property subtype
Shopping Community
Occupancy
100%
Additional Details
Cap Rate
7.5%
Anchor Co-Tenants
Tractor Supply
Amenities
Tractor Supply, William Bros Pharmacy, and Hacienda El Asadero Mexican Restaurant All Recently Extended Their Leases, Showing Strong Commitment to the Site.
100 Percent Occupied by a Diverse Mix of National, Regional and Local Retail, Restaurant, and Service-Oriented Tenants.
Tractor Supply Center Offers an Incoming Investor Seven Plus Years of Weighted Average Lease Term; Significantly Reducing Any Near-Term Lease Rollover Risk.
Tractor Supply, William Bros Pharmacy and Hacienda El Asadero Mexican Restaurant, Which Operate Under Triple-Net Leases, are Paying an Average of $4.75 per Foot. in Base Rent; Which Represents a Very Sustainable Market Rent for Continued Operations.
Building Details
Building Size
43,910 SF
Year Built
1980
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Indianapolis
Listed By:
Jordan Klink · License #License(s): IN: RB14043752
(317) 218-5316
Source:
Marcusmillichap
Added: Sep 16
Last Checked: Sep 16 at 2:08PM
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.
Built in 1980, this 43,910-square-foot neighborhood shopping center occupies 6.02 acres and is 100 percent leased across four tenant spaces. Tractor Supply serves as the 27,000-square-foot anchor, with Williams Bros. Pharmacy, Hacienda El Asadero, and the Indiana Department of Child Services comprising the remaining tenancy. Three occupants operate under NNN lease structures.
The property is positioned along State Road 37 and Gospel Street within Paoli’s primary retail corridor, next to Walmart and IU Health Paoli Hospital. The center includes ample parking and convenient access from the surrounding retail area.
Recent lease activity includes a 10-year extension with Tractor Supply, five additional years for Williams Bros. Pharmacy, and a new 10-year term for Hacienda El Asadero. Indiana Department of Child Services signed an 8-year lease in 2024. The tenant commitments produce more than seven years of weighted-average lease term and reduce near-term rollover exposure.
The property is positioned along State Road 37 and Gospel Street within Paoli’s primary retail corridor, next to Walmart and IU Health Paoli Hospital. The center includes ample parking and convenient access from the surrounding retail area.
Recent lease activity includes a 10-year extension with Tractor Supply, five additional years for Williams Bros. Pharmacy, and a new 10-year term for Hacienda El Asadero. Indiana Department of Child Services signed an 8-year lease in 2024. The tenant commitments produce more than seven years of weighted-average lease term and reduce near-term rollover exposure.
Key Highlights
- 43,910‑square‑foot shopping center on 6.02 acres
- 100 percent occupied by four tenants
- 27,000‑square‑foot Tractor Supply anchor operating at the property since 2011
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 47454, IN
7,684
Population
3,424
Households
2.2
Avg Household Size
42
Median Age
15%
College-Educated
85%
High-School Grad
129.4 sq mi
ZIP Area
59
Density / Sq Mi
$53,931
Median Household Income
$36,839
Median Earnings
$878
Median Rent
$145,400
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied neighborhood retail property with triple-net leases and extended tenant commitments.
Where is this shopping center located?
The property is located at 889 N Gospel St Paoli, IN.
What is the asking price?
The asking price for this property is $2,670,000.
What are key features of this property?
This property features: 43,910‑square‑foot shopping center on 6.02 acres; 100 percent occupied by four tenants; 27,000‑square‑foot Tractor Supply anchor operating at the property since 2011
