865 Jefferson St Plymouth, IN 46563
- Grocery and convenience stores
- 48,064 SF
- 5.16 lot acres
Current Use by Public Records
- Grocery and convenience stores
Property Details for 865 Jefferson St
- Year built
- 1989
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 5.16 lot acres
- Property size
- 48,064 SF
- Property type
- Grocery and convenience stores
- APN
- 50-32-93-202-237.000-019
- APU
- 503293202237000019
Description
This exceptional investment opportunity presents a 47,677 square foot, single-story Martin's Super Market situated on a 5.14-acre lot in Plymouth, Indiana. The property boasts a strong 100% occupancy rate under a triple-net (NNN) lease with a corporate guarantee from SpartanNash Company (NASDAQ: SPTN). The lease, commencing March 27, 2000, has approximately 8.4 years remaining, with two 5-year renewal options. The building, constructed in 1989 and renovated in 2021, features a new roof with a transferable warranty. The property offers 240 parking spaces and benefits from high visibility and accessibility on E. Jefferson Street (9,110 vehicles per day), with proximity to US Highways 30 and 31 (combined 33,760 vehicles per day). The location is strategically positioned near Plymouth High School, numerous residential areas, and several national retailers. A key differentiator is the in-store Starbucks, the only one within a 25-mile radius, attracting significant foot traffic (averaging over 10,800 weekly visits). The asking price is $2,143,000, representing a $44.94 per square foot price and a 7.00% cap rate, with a net operating income (NOI) of $150,000. The land value is $9.56 per square foot. This presents a compelling investment with a long-term, stable tenant and significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Plymouth
- County
- Marshall
- State
- Indiana
- Longitude
- -86.2977
- Latitude
- 41.3451
- CBSA code
- 38500
- CBSA name
- PLYMOUTH, IN MICROPOLITAN STATISTICAL AREA
