3289 Hawkins Rd Bridgeton, IN 47836
- Retail properties
- 31,298 SF
- 4.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3289 Hawkins Rd
- Lot size
- 4.00 lot acres
- Property size
- 31,298 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents eight large barn buildings totaling 31,298 square feet of retail space situated on a 4-acre lot in Bridgeton, Indiana (47836), at 3289 Hawkins Rd. Currently operating as a highly successful vendor space within the renowned Parke County Covered Bridge Festival, this property boasts a strong track record. The festival, running since 1957, attracts over 2 million visitors annually during its ten-day October event. The property's prime location ensures high foot traffic and consistent demand from vendors, many of whom return year after year, securing their spots well in advance due to a substantial waiting list. The property is zoned A-P and offers a gross lease structure with a current asking price of $2,500,000, representing a price per square foot of $79.88 and an 8.12% cap rate. The current Net Operating Income (NOI) is $203,000. The existing leases have a commencement date of October 11, 2024, and an expiration date of October 20, 2024, with no remaining lease term. This presents a unique opportunity to acquire a proven, high-return retail investment in a vibrant festival setting. The property's history of strong vendor occupancy and high demand suggests significant potential for future growth and profitability. The multi-tenant structure provides diversification and resilience. This is a rare chance to own a piece of Indiana's premier festival destination.
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
- Bridgeton
- County
- Parke
- State
- Indiana
- Longitude
- -87.175
- Latitude
- 39.6486
