2536 Michigan Rd Madison, IN 47250
Property profile & analytics
2536 Michigan Rd Madison, IN 47250
- Commercial land
- 2.88 lot acres
Property ID
US31-0446169
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- T.J. Maxx / Women'S Clothing Store / Clothing Store
Property Details for 2536 Michigan Rd
- Lot size
- 2.88 lot acres
- Property type
- Commercial land
- APN
- 39-08-23-300-021.004-007
- APU
- 390823300021004007
Description
This exceptional 120,868-square-foot shopping center in Madison, Indiana, presents a compelling investment opportunity. Completed in 2023, the property boasts 100% occupancy with four credit-rated tenants under absolute NNN and ground leases, ensuring zero landlord responsibilities. The center features ample parking, pylon signage, and convenient ingress/egress at a signalized intersection. Situated on an 11-acre lot, Sunrise Crossing benefits from a prime location in a well-established retail corridor, surrounded by national retailers such as Kroger, Walmart, and others. The property's strong financial performance is highlighted by a 6.75% cap rate and a net operating income (NOI) of $1,152,925. The asking price is $17,080,000, translating to $141.31 per square foot. Leases commenced August 31, 2023, and include rent bumps. The affluent surrounding community, with an average household income exceeding $68,000 within a five-mile radius (2020 data), ensures a stable tenant base. High traffic counts on Michigan Road (10,786 VPD) and Highway 62 (18,290 VPD) (Source: LandVision, CoStar, 2022) further enhance the property's appeal. Its proximity to Louisville International Airport (45 miles), Downtown Louisville (40 miles), and Downtown Cincinnati (55 miles) provides excellent accessibility. Nearby recreational facilities include Clifty Falls State Park and Sunrise Golf Course. A recent financing quote indicates a 10-year, 60% LTV loan at 6.55% interest-only, projecting a 7.05% pre-tax return in the first year.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Jefferson
- State
- Indiana
- Longitude
- -85.3857
- Latitude
- 38.7725
- CBSA code
- 31500
- CBSA name
- MADISON, IN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$129
$4,300
$0.00
$4,300
-
$4,300
$0.00
$4,300
