Building Details

Year Built 2005

Buildings 1

Units 1

Tenancy Single

Listing Agency: Acadia Commercial

Listed By: Tyler Binkley · License #RB14037279 Show Phone

Source: Crexi

Added: Jan 28 Changed: Oct 3 Last Checked: Oct 5 at 5:01PM

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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 Acadia Commercial

Investment Insights

Based on property information with market context.

This property at 8989 E Us Highway 20, New Carlisle, IN, presents an investment opportunity for retail purposes. Constructed in 2005, the 10,296 square foot building is zoned PUDM and is currently 100% occupied. The property is located in the New Carlisle area, offering high-traffic exposure and proximity to established retail businesses such as Kroger, Walgreens, and Discount Tire. This single-tenant property operates under an Absolute Triple Net Lease.

Key Highlights

• Absolute triple net lease (NNN)
• 100% occupancy
• High‑traffic location on US Highway 20

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$142,918

Cap Rate

6.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,858,360 $2.9M

Cap Rate 7%

$2,041,686 $2.0M

Cap Rate 9%

$1,587,978 $1.6M

Market Conditions

NOI Build-Up for 10,296 SF

Gross rent

$226.1K $21.96/SF

− Vacancy

−$21.9K −$2.13/SF

EGI

$204.2K $19.83/SF

− OpEx

−$61.3K −$5.95/SF

NOI

$142.9K $13.88/SF

Area

St. Joseph County, IN

Vacancy

9.70%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,858,360

Cap Rate 7%

$2,041,686

Cap Rate 9%

$1,587,978

Alternative Uses

Best Use

Retail

$2.04M

$1.79M – $2.38M (±1% cap)

NOI $142,918 @ 7.0% cap · market cap 6.87%

Second Best

—

—

no second resolved use

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Dental Office Electrical Service Hair Salon Furniture & Home Goods Grocery & Convenience Store Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

103

Businesses Nearby

Explore this area Business Placement

Demographics for 46552, IN

6,478

Population

2,981

Households

2.2

Avg Household Size

43

Median Age

30%

College-Educated

94%

High-School Grad

63.9 sq mi

ZIP Area

101

Density / Sq Mi

$79,464

Median Household Income

$53,849

Median Earnings

$811

Median Rent

$211,500

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - 10,296 SF retail building in a high-traffic area.

Where is this retail space located?

The property is located at 8989 U.S Highway 20 New Carlisle, IN.

What is the asking price?

The asking price for this property is $2,080,000.

What are key features of this property?

This property features: Absolute triple net lease (NNN); 100% occupancy; High‑traffic location on US Highway 20