4120 Market St, Logansport, IN 46947-2233

Property Details for 4120 Market St

Year built

2002

Construction

TYPE NOT SPECIFIED

Lot size

10.90 lot acres

Property type

Outlet malls

Property subtype

Shopping centers

APN

09-17-28-240-001.000-010

APU

91728240001000010

Description

Prime Logansport location, strong NOI, 7.09% cap rate. This 4,900 sq ft retail property, built in 2021, features T-Mobile and McAlister's Deli on a 1.21-acre lot with 36 parking spaces. The property boasts a 100% occupancy rate with new 10-year NNN leases including rent bumps and two 5-year options. The McAlister's Deli location includes a drive-thru. The property is strategically located on a major retail corridor, shadow-anchored by The Home Depot, and benefits from a dense trade area with strong demographics. The property offers a compelling investment opportunity with significant upside potential due to the scheduled rent increases and the strength of the tenant lineup. The property's location near other major retailers, including Walmart, Harbor Freight, and Rural King, ensures high visibility and foot traffic. The surrounding area also includes numerous residential communities, providing a substantial customer base. The property's financial performance is further enhanced by the triple-net (NNN) lease structure, minimizing landlord responsibilities and maximizing passive income. The 7.09% cap rate and $154,200 NOI make this a highly attractive investment opportunity. The asking price is $2,175,000.

Location Insight

City

Logansport

County

Cass

State

Indiana

Longitude

-86.3106

Latitude

40.7589

CBSA code

30900

CBSA name

LOGANSPORT, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments