109 Beck Ln Lafayette, IN 47909-2844

Beck Plaza, a 41,200 square foot multi-tenant shopping center in Lafayette, Indiana, is offered for sale at $4,600,000. This NNN-leased property boasts a strong national tenant lineup including Dollar Tree, Metro PCS, Subway, Edward Jones, Papa John's, Rent-A-Center, and Cato Company, shadow anchored by a Pay Less Supermarket/Kroger. Currently, there is an 18% vacancy rate, presenting a value-add opportunity for potential lease-up. Built in 2004, the property sits on an 8.54-acre lot with 1,100 feet of frontage along Beck Lane and Old US Highway 231 (approximately 21,000 vehicles per day). Its strategic location is a short five-minute drive from Purdue University, benefiting from a strong demographic area with over 127,000 residents and 69,000 employees within a five-mile radius. The property features a low price per square foot of $111.65, below replacement cost, and offers a current NOI of $375,353, representing an 8.16% cap rate. The property's location near Purdue University, a top-ranked public school with a large student population and substantial endowment, further enhances its investment potential. The property is open to new financing.