8160 Mississippi St Merrillville, IN 46410
- Retail properties
- 4,624 SF
- 1.13 lot acres
Current Use by Public Records
- Taco Pros - Mexican Cocina (Merrillville) / Mexican Restaurant
Property Details for 8160 Mississippi St
- Year built
- 1978
- Lot size
- 1.13 lot acres
- Property size
- 4,624 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 4,624 square foot, 100% occupied retail center in Merrillville, Indiana. Anchored by a newly signed 10-year Jimmy John's lease and complemented by Smoothie King and Taco Pros, this property boasts a strong tenant mix with proven operational success. All three tenants operate under triple-net leases, providing predictable cash flow with 3% annual rent increases. The building, situated on a 1.13-acre lot with 62 parking spaces, underwent renovations in 2016 and features a drive-thru. The property enjoys a prime location, just 0.3 miles from Southlake Mall (over 6.4 million visits annually) and conveniently situated off Interstate 65, benefiting from high daily traffic counts. The surrounding area demonstrates strong demographics, with a large population and workforce within a close radius, further enhancing the investment potential. The property's financial performance is highlighted by a $1,978,919 asking price, a 7.26% cap rate, and a substantial net operating income (NOI) of $143,694. Lease terms vary, with options including 3 and 5-year terms for Taco Pros and Smoothie King, and a 10-year term for Jimmy John's. This well-maintained, high-traffic location offers a compelling investment opportunity with significant long-term growth potential. The property's address is 8160 Mississippi St, Merrillville, IN 46410. The property includes one single-story building, built in 1978.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Merrillville
- County
- Lake
- State
- Indiana
- Longitude
- -87.317
- Latitude
- 41.4704
