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    2045 Northgate Dr West Lafayette, IN 47906

    Sponsored
    For Sale
    $2,166,667

    West Lafayette, IN: High-Yield Retail Investment

    Property size:
    2,166 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This fee-simple, 2,166 sq ft Starbucks in West Lafayette, IN, offers a compelling investment opportunity. Built in 2023, the property boasts a strong 6.00% cap rate and a stabilized net operating income (NOI) of $130,000. The single-tenant, credit-rated Starbucks lease commenced January 9, 2023, and extends through February 28, 2033, with four 5-year options. The lease is a triple-net (NNN) agreement, meaning the tenant covers all common area maintenance (CAM), real estate taxes, and insurance expenses, maximizing your cash flow. Rent increases of 7.50% every five years are built into the lease, providing further income growth. The property is situated on a 1.023-acre lot at 2045 Northgate Dr, West Lafayette, IN 47906, in a high-traffic area near I-65 and Purdue University. The property benefits from a 15-year roof warranty expiring in 2038. This is a low-management, high-return investment with significant long-term potential. The property's prime location, strong tenant, and favorable lease terms make it an exceptional addition to any portfolio. The asking price is $2,166,667, representing a price per square foot of $1,000.31. This represents a rare opportunity to acquire a newly constructed, high-performing Starbucks location with a long-term lease and built-in rent growth.

    Property Features for 2045 Northgate Dr

    General Information

    Property type
    Restaurants
    Square Feet
    2,166 SF
    Lot Size
    44,562 SF

    Building Details

    Year Built
    2023

    HighLights

    • 7.5% rent increases every five years with four 5‑year options.
    • 15‑year roof warranty expiring in 2038.
    • Triple‑net (NNN) lease; landlord responsibilities limited to roof and structure.
    • Nine years remaining on the initial lease term with no tenant termination rights.
    • Tenant pays all common area maintenance (CAM), real estate taxes, and insurance.
    • Located in a rapidly growing corridor near I‑65 and Purdue University.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Auto Repair Shop Electronics Store Convenience Store Cafe & Coffee Shop Daycare Center Veterinary Clinic Wine and Liquor Store Tailor Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    West Lafayette
    County
    Tippecanoe
    State
    Indiana
    Longitude
    -86.868410675421
    Latitude
    40.500959818877

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    FAQs

    What type of property is this?
    Restaurant - West Lafayette, IN: High-Yield Retail Investment
    Where is this restaurant located?
    The property is located at 2045 Northgate Dr West Lafayette, IN.
    What is the asking price?
    The asking price for this property is $2,166,667.
    What are key features of this property?
    This property features: 7.5% rent increases every five years with four 5-year options.; 15-year roof warranty expiring in 2038.; Triple-net (NNN) lease; landlord responsibilities limited to roof and structure.
    (317) 493-1267
    Request Owner's contact information
    2045 Northgate Dr West Lafayette, IN 47906
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    West Lafayette, IN 47906
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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
    2045 Northgate Dr West Lafayette, IN 47906
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