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    3900 Lexington Rd Logansport, IN 46947

    For Sale
    $2,495,000

    Retail Investment: High Occupancy, Value-Add

    Property size:
    18,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 18,600 square foot retail property in Logansport, Indiana, presents a compelling value-add opportunity. Located at 3900 Lexington Rd, this single-story, 2011-built center boasts a strong tenant mix including Buffalo Wild Wings, Great Clips, and Maurices, among others. Currently 80% occupied with five tenants, the property offers approximately 3,700 square feet of readily leasable space, promising immediate upside potential. The property features a 7.35% cap rate and a net operating income (NOI) of $183,229. With a remaining lease term of 3.3 years on existing leases, this investment benefits from a high historical occupancy rate, with four of the five current tenants operating since 2011. The 3.19-acre lot offers potential for out-lot development, further enhancing value and traffic. The property enjoys a prime location, shadow-anchored by a Walmart Supercenter and a large shopping center featuring big-box retailers like The Home Depot and Planet Fitness. Strong demographics, with an average household income exceeding $75,100 within a 5-mile radius, support continued success. All tenants are under landlord-favorable net leases with additional option periods. This is a rare opportunity to acquire a well-positioned retail center with significant upside potential in a thriving market.

    Property Features for 3900 Lexington Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    18,600 SF
    Lot Size
    138,956 SF

    Building Details

    Year Built
    2011
    Buildings
    1
    Stories
    1
    Units
    6

    HighLights

    • Value‑add opportunity: 80% leased retail center with 3,700 SF of vacant space offering immediate upside potential.
    • Strong demographics: Located in a densely populated, middle‑class area with over 25,000 residents and a $75,100 average household income within a 5‑mile radius.
    • Excellent location: Shadow‑anchored by Walmart and a 337,000+ SF shopping center ("The Junction") with multiple big‑box retailers.
    • High historical occupancy: Four of five current tenants have occupied the site since 2011.
    • Out‑lot development potential: Approximately 0.5‑acre out‑lot available for development, increasing traffic and NOI.
    • Strong tenant mix: National and local retailers on favorable net leases with option periods.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Arnold's Jewelry & Gifts Jewelry Store The joint smoke shop Tobacco Shop Buffalo Wild Wings Chicken Wings Restaurant Smoke Kingdom Tobacco Shop Maurices Women'S Clothing Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Logansport
    County
    Cass
    State
    Indiana
    Longitude
    -86.3133949
    Latitude
    40.7630955

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    FAQs

    What type of property is this?
    Lifestyle center - Retail Investment: High Occupancy, Value-Add
    Where is this lifestyle center located?
    The property is located at 3900 Lexington Rd Logansport, IN.
    What is the asking price?
    The asking price for this property is $2,495,000.
    What are key features of this property?
    This property features: Value-add opportunity: 80% leased retail center with 3,700 SF of vacant space offering immediate upside potential.; Strong demographics: Located in a densely populated, middle-class area with over 25,000 residents and a $75,100 average household income within a 5-mile radius.; Excellent location: Shadow-anchored by Walmart and a 337,000+ SF shopping center ("The Junction") with multiple big-box retailers.
    Request Owner's contact information
    3900 Lexington Rd Logansport, IN 46947
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    Logansport, IN 46947
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    Realmo Value Estimation

    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.

    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.

    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
    3900 Lexington Rd Logansport, IN 46947
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