T-Mobile & McAlister's | 4140 E Market St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
T-Mobile & McAlister's 4140 E Market St
4,900 SF 100% Leased Retail Building Logansport, IN 46947 $2,142,000 ($437/SF) 7.20% Cap Rate
Investment Highlights
- Strong Tenant Lineup | Newly Signed Leases | NNN Leases | Scheduled Rental Increase | Drive-Thru Equipped
- Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
- Located Along Main Retail Corridor | Dense Trade Area | Surrounding Shopping Centers | Outparcel to The Home Depot
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a two-tenant, NNN leased, newly built retail strip located in Logansport, IN. The tenants, T-Mobile (corporate) and McAlister’s Deli (franchisee), recently signed brand new 10-year leases with 2 (5-year) option periods to extend, demonstrating their commitment to the site. Both tenants feature scheduled rental increases, growing NOI and hedging against inflation. In addition, both tenants operate under NNN lease structures, limiting expense leakage for a future investor (see rent roll). Furthermore, McAlister’s Deli is equipped with an end-cap drive-thru lane, which provides ease and convenience for customers.
The two-tenant strip is strategically located along Market Street with clear visibility and access to an average of 13,200 vehicles passing by daily. Market Street serves as the main retail corridor in Logansport and connects to numerous additional commuter routes. The subject is ideally situated within a dense trade area and is near Eastgate Plaza (59K+ SF), Cass Plaza (209K+ SF), and other shopping centers. In addition, the property lies as an outparcel to a 97K+ SF Home Depot, significantly increasing the location’s attraction. The additional national/credit tenants include Walmart Supercenter, Harbor Freight Tools, Rural King, Martin’s Supermarket, ALDI, and others. The strong tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes crossover store exposure. Moreover, the asset is near numerous single-family communities and multi-family complexes including River Bend Apartments (102 units), Pinecrest Manor Apartments (102 units), Cass Plaza Apartments (82 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by 24,900 residents and 15,000 daytime employees, with a healthy average household income of $72,436.
The two-tenant strip is strategically located along Market Street with clear visibility and access to an average of 13,200 vehicles passing by daily. Market Street serves as the main retail corridor in Logansport and connects to numerous additional commuter routes. The subject is ideally situated within a dense trade area and is near Eastgate Plaza (59K+ SF), Cass Plaza (209K+ SF), and other shopping centers. In addition, the property lies as an outparcel to a 97K+ SF Home Depot, significantly increasing the location’s attraction. The additional national/credit tenants include Walmart Supercenter, Harbor Freight Tools, Rural King, Martin’s Supermarket, ALDI, and others. The strong tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes crossover store exposure. Moreover, the asset is near numerous single-family communities and multi-family complexes including River Bend Apartments (102 units), Pinecrest Manor Apartments (102 units), Cass Plaza Apartments (82 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by 24,900 residents and 15,000 daytime employees, with a healthy average household income of $72,436.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,900 SF
Building Class
B
Year Built
2021
Price
$2,142,000
Price Per SF
$437
Cap Rate
7.20%
NOI
$154,200
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.08
Lot Size
1.40 AC
Zoning
C-1 - Commercial
Parking
36 Spaces (7.35 Spaces per 1,000 SF Leased)
Frontage
285 FT on East Market Street
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 09-17-28-240-003.000-010 | Improvements Assessment | $214,100 |
Land Assessment | $278,800 | Total Assessment | $492,900 |
PROPERTY TAXES
Parcel Number
09-17-28-240-003.000-010
Land Assessment
$278,800
Improvements Assessment
$214,100
Total Assessment
$492,900
1 of 10
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
T-Mobile & McAlister's | 4140 E Market St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.