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    3055 Us Highway 36 Pendleton, IN 46064

    Sponsored
    For Lease
    $22 SF/Yr

    High-traffic end cap, 1815 sq ft+

    Lot size:
    21,020 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    414
    This exceptional retail space, located at 3055 US-36 in Pendleton, Indiana, offers a prime opportunity for businesses seeking high visibility and convenient access. The 1,815 square foot end cap unit is part of a larger 21,020 square foot strip center, built in 2005 and zoned C-2. The property boasts a desirable drive-thru feature, a significant advantage for many retail operations. The interior features high ceilings, three offices, an open retail area, a break room, and a single ADA-compliant restroom. This space is situated in a bustling strip center anchored by Needler's Fresh Market, ensuring high foot traffic and excellent exposure. Other prominent tenants include Great Clips, Verizon, Ascension St. Vincent, and Subway, creating a strong and diverse tenant mix. The 1.15-acre lot provides ample parking and convenient access for customers. This Class B property presents a unique opportunity to establish or expand a business in a thriving Madison County location. The minimum divisible space is 1,815 square feet, making it ideal for a variety of retail concepts. The property's location in Pendleton, Indiana (zip code 46064) offers easy access to major roadways and a strong local customer base.

    Property Features for 3055 Us Highway 36

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,020 SF
    Class
    B
    Total Rate
    38536.67

    Building Details

    Year Built
    2005

    Unit(s) available at that property

    Space
    End Cap with Drive Thru
    Size
    1,815 SF
    Rate per SF
    $22

    We can help!

    Listing Contact
    Shelly Johnson
    Shelly Johnson

    Learn more

    HighLights

    • 1,815 SF end‑cap retail space in a 21,020 SF strip center in Pendleton, IN.
    • Located at 3055 US‑36, with high visibility and convenient access.
    • Features a drive‑thru, high ceilings, three offices, open retail area, break room, and ADA‑compliant restroom.
    • Anchored by Needler's Fresh Market, with other tenants including Great Clips, Verizon, Ascension St. Vincent, and Subway.
    • 1.15‑acre lot with ample parking, C‑2 zoning, and located in a thriving Madison County location (zip code 46064).
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage 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
    Pendleton
    County
    Madison
    State
    Indiana
    Longitude
    -85.732658816734
    Latitude
    39.998888867209

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    Nearby Similar for Lease

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    FAQs

    What type of property is this?
    Neighborhood center - High-traffic end cap, 1815 sq ft+
    Where is this neighborhood center located?
    The property is located at 3055 Us Highway 36 Pendleton, IN.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: 1,815 SF end-cap retail space in a 21,020 SF strip center in Pendleton, IN.; Located at 3055 US-36, with high visibility and convenient access.; Features a drive-thru, high ceilings, three offices, open retail area, break room, and ADA-compliant restroom.
    Request Owner's contact information
    3055 Us Highway 36 Pendleton, IN 46064
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    Pendleton, IN 46064
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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
    3055 Us Highway 36 Pendleton, IN 46064
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    We can help!
    Listing Contact
    Shelly Johnson
    Shelly Johnson
    Real Estate License ID: IN RB14043056
    Learn more
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