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Property profile & analytics
FOR SALE
Strip malls

399 E 81St Ave Merrillville, IN 46410

18,215 SF Built 2003
Property ID
US31-Q003647
Property summary
AI-generated overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire a 100% fee simple interest in Century Plaza, a premier, 100% occupied Class "A" retail strip center located in Merrillville, Indiana, within the prominent Chicago MSA. Spanning 18,215 square feet on approximately 1.64 acres, the property features a highly successful, internet-resistant tenant roster heavily oriented toward dining and daily services. The center is anchored by a top-tier Panera Bread with a dedicated drive-thru, which stands as a top-performing location ranked in the top 7% nationwide. The asset boasts excellent historical stability, showcasing nationally recognized brands like Panera Bread, Qdoba, and Plato's Closet. Century Plaza is strategically positioned at the high-traffic intersection of East Lincoln Highway (the area's main retail corridor) and Broadway, benefiting from an exceptional combined traffic count of over 87,000 vehicles per day. Situated within a dense and affluent southern Chicago suburb, the property serves a captive market of over 100,000 residents with average household incomes exceeding $80,000 within a 5-mile radius. Offered free and clear of debt, Century Plaza provides an incoming investor with an immediate, secure, and predictably growing cash flow backed by an institutional-quality retail asset. 6.76%

Property profile
Verified
Property type Strip malls
Year built 2003
Total area 18,215 SF
UPID US31-Q003647
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • El Timon Mexican Cuisine & Bar Restaurant
  • The Social Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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