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    University Dr Granger, IN 46530

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    For Lease
    Contact for pricing

    Granger, IN: Prime Retail Space Available

    Lot size:
    136,430 SF

    Property Features for 0 University Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    136,430 SF

    Building Details

    Year Built
    2002

    Spaces For Lease

    at 0 University Dr, Granger, IN 46530 Contact us

    We can help!

    Listing Contact
    Alexis Johnson

    Listing Agency: Rivercrest Realty Associates LLC Listing Agent: Alexis Johnson

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

    Learn more

    Overview

    University Crossing, a vibrant 136,430 square foot retail center in Granger, Indiana, offers exceptional opportunities for businesses seeking high-visibility locations. Built in 2002, this multi-tenant property boasts ample parking with 849 spaces, ensuring convenient access for customers. Currently, three retail spaces are available, ranging in size from 2,558 to 28,260 square feet, providing flexibility for various business needs. Strategically located at the intersection of Main Street and University Drive, the center benefits from excellent visibility and easy access from I-80/90, ensuring high traffic volume. This prime location is part of a thriving retail corridor, situated near major shopping destinations such as University Park Mall, Indian Ridge Plaza, and Wilshire Plaza, creating a synergistic environment for businesses. The center is anchored by prominent national retailers including Super Target, Marshalls, Petco, and Dollar Tree, attracting a substantial customer base to the area. This established retail center in St. Joseph County presents a compelling investment opportunity within a dynamic and growing market. The property's size, location, and existing tenant mix create a strong foundation for success. Contact us today to learn more about the available spaces and explore the possibilities. Zip code: 46530.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Granger
    County
    St Joseph
    State
    Indiana
    Longitude
    -86.173552246814
    Latitude
    41.71812387999

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    FAQs

    What type of property is this?
    Retail property - Granger, IN: Prime Retail Space Available
    Where is this retail property located?
    The property is located at University Dr Granger, IN.
    What are key features of this property?
    This property features: Super Target-anchored center with key tenants including Marshalls, Petco, Dollar Tree, Boot Barn, Rally House, Sally Beauty, and Maurice's.; 136,430 square feet gross leasable area (GLA), built in 2002.; 6.98 parking spaces per 1,000 square feet.
    Request Owner's contact information
    University Dr Granger, IN 46530
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    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
    University Dr Granger, IN 46530
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    Listing Contact
    Alexis Johnson
    Real Estate License ID: 296101
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