3900 Lexington Rd Logansport, IN 46947

Property Details for 3900 Lexington Rd

Year built

2010

Construction

TYPE NOT SPECIFIED

Lot size

4.14 lot acres

Property size

7,480 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

09-17-28-200-032.001-010

APU

91728200032001010

Description

This exceptional 18,600 square foot retail property in Logansport, Indiana, presents a compelling value-add opportunity. Located at 3900 Lexington Rd, this single-story, 2011-built center boasts a strong tenant mix including Buffalo Wild Wings, Great Clips, and Maurices, among others. Currently 80% occupied with five tenants, the property offers approximately 3,700 square feet of readily leasable space, promising immediate upside potential. The property features a 7.35% cap rate and a net operating income (NOI) of $183,229. With a remaining lease term of 3.3 years on existing leases, this investment benefits from a high historical occupancy rate, with four of the five current tenants operating since 2011. The 3.19-acre lot offers potential for out-lot development, further enhancing value and traffic. The property enjoys a prime location, shadow-anchored by a Walmart Supercenter and a large shopping center featuring big-box retailers like The Home Depot and Planet Fitness. Strong demographics, with an average household income exceeding $75,100 within a 5-mile radius, support continued success. All tenants are under landlord-favorable net leases with additional option periods. This is a rare opportunity to acquire a well-positioned retail center with significant upside potential in a thriving market.

Location Insight

City

Logansport

County

Cass

State

Indiana

Longitude

-86.3136

Latitude

40.7631

CBSA code

30900

CBSA name

LOGANSPORT, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments