109 Beck Ln Lafayette, IN 47909-2844

Property Details for 109 Beck Ln

Year built

2004

Construction

WOOD

Lot size

8.54 lot acres

Property size

41,200 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

79-11-05-100-010.000-033

APU

791105100010000033

Description

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.

Location Insight

City

Lafayette

County

Tippecanoe

State

Indiana

Longitude

-86.9009

Latitude

40.3865

CBSA code

29200

CBSA name

LAFAYETTE-WEST LAFAYETTE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments