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500 Sagamore Pkwy W West Lafayette, IN 47906

Strip malls Google Maps
12,600 SF 4.01 ac lot Built 1992
Entity Owned 12-yr Hold Free & Clear
Estimated value (blended)
$610k
Range $549k – $671k (±10%)
Property ID US31-0681254

Property summary

AI-generated overview

University Square, a thriving 36,778 square foot retail center in West Lafayette, Indiana, offers 11 suites for lease. Two spaces are currently available, ranging from 1,740 to 3,357 square feet. This grocery-anchored shopping center enjoys a prime location on Sagamore Parkway West, boasting over 900 feet of frontage and exceeding 30,000 vehicles per day in traffic counts. Ample surface parking ensures convenient access for customers. The center benefits from excellent signage and a strong tenant mix, including Fifth Third Bank, Fleet Feet Shoes, Talbots, Sunspot Grocers, and more. Its strategic location less than two miles from Purdue University provides access to both the university and local communities. The surrounding area is a blend of commercial businesses and desirable residential neighborhoods, contributing to a high quality of life and affordable housing options. Nearby businesses include Aldi, Goodwill, AutoZone, and O'Reilly, further enhancing the area's appeal and foot traffic. This property presents a unique opportunity to establish a business within a well-established and successful retail environment in a vibrant Indiana community. The property is located in Tippecanoe County, with a zip code of 47906.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1992
Construction WOOD
Total area 12,600 SF
Lot 4.01 ac (174,763 SF)
APN 79-07-07-252-011.000-026
UPID US31-0681254

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$610k
CAP Approach CAP
by Request
Comparable Approach Comparable
$608k
Blend (final) Blend
$610k

Owner & transaction history

since 2014
1 recorded transaction
2014
Price N/A

Zoning & alternative use

Top alternative use upside
Commercial (general) $905,000 +105.6%
Retail stores $895,000 +104.3%
Apartment house (5+ units) $885,000 +101.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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