1579 Pilgrim Ln Plymouth, IN 46563
- Retail properties
- 2,546 SF
- 0.76 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1579 Pilgrim Ln
- Year built
- 2024
- Lot size
- 0.76 lot acres
- Property size
- 2,546 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,546 square-foot Starbucks located at 1579 Pilgrim Ln, Plymouth, IN 46563. The property boasts a 10-year, double net (NN) lease commencing October 1, 2024, and expiring September 30, 2034, with four, five-year renewal options. The lease includes rent bumps of $2 per square foot every five years, ensuring consistent income growth. This single-tenant building sits on a 0.76-acre lot and is 100% occupied by a credit-rated Starbucks with a corporate guarantee, providing significant financial security. The property benefits from a strong 6.25% cap rate and a substantial net operating income (NOI) of $144,994. Strategically located off US Hwy 31 and North Oak Drive, this high-visibility site enjoys combined daily traffic counts exceeding 41,200 vehicles. The property is part of a thriving retail center, shadow-anchored by a Walmart Supercenter and featuring other national retailers such as Marshalls, Ross, Lowe's, Aldi, and many more. The nearest competing Starbucks is over 25 miles away, ensuring a large, exclusive trade area. This is a rare opportunity to acquire a high-performing, institutional-grade net lease investment with a strong tenant, excellent location, and significant long-term growth potential. The building was constructed in 2024 and includes a drive-thru lane.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Plymouth
- County
- Marshall
- State
- Indiana
- Longitude
- -86.3275
- Latitude
- 41.3617
