2045 Northgate Dr West Lafayette, IN 47906
- Drive through restaurants
- 2,177 SF
- 1.02 lot acres
Current Use by Public Records
- Drive through restaurants
Property Details for 2045 Northgate Dr
- Year built
- 2022
- Construction
- WOOD
- Lot size
- 1.02 lot acres
- Property size
- 2,177 SF
- Property type
- Drive through restaurants
- APN
- 79-03-27-101-001.000-019
- APU
- 790327101001000019
Description
This fee-simple, 2,166 sq ft Starbucks in West Lafayette, IN, offers a compelling investment opportunity. Built in 2023, the property boasts a strong 6.00% cap rate and a stabilized net operating income (NOI) of $130,000. The single-tenant, credit-rated Starbucks lease commenced January 9, 2023, and extends through February 28, 2033, with four 5-year options. The lease is a triple-net (NNN) agreement, meaning the tenant covers all common area maintenance (CAM), real estate taxes, and insurance expenses, maximizing your cash flow. Rent increases of 7.50% every five years are built into the lease, providing further income growth. The property is situated on a 1.023-acre lot at 2045 Northgate Dr, West Lafayette, IN 47906, in a high-traffic area near I-65 and Purdue University. The property benefits from a 15-year roof warranty expiring in 2038. This is a low-management, high-return investment with significant long-term potential. The property's prime location, strong tenant, and favorable lease terms make it an exceptional addition to any portfolio. The asking price is $2,166,667, representing a price per square foot of $1,000.31. This represents a rare opportunity to acquire a newly constructed, high-performing Starbucks location with a long-term lease and built-in rent growth.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Lafayette
- County
- Tippecanoe
- State
- Indiana
- Longitude
- -86.8675
- Latitude
- 40.5007
- CBSA code
- 29200
- CBSA name
- LAFAYETTE-WEST LAFAYETTE, IN METROPOLITAN STATISTICAL AREA
