King Crab Cajun Seafood Restaurant | 4730 Grape Rd
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King Crab Cajun Seafood Restaurant 4730 Grape Rd
7,500 SF Retail Building Mishawaka, IN 46545 $2,025,000 ($270/SF) 8.50% Cap Rate
Investment Highlights
- Triple-net (NNN) lease structure with the tenant responsible for all maintenance, including roof and structure
- Located on a shared lot with Lowe’s Home Improvement, the property benefits from complementary traffic patterns and exceptional visibility
- Conveniently positioned near major transportation routes, including Interstate 80/90 and Route 23
- Situated on a sizable 1.93-acre lot, the property presents significant longterm redevelopment opportunities
- Located just 2.6 miles from the University of Notre Dame, the property benefits from a steady flow of visitors, students, and local residents
- King Crab Cajun Seafood operates under a 10-year, 6-month triple-net (NNN) lease with 7 years remaining, offering market rent at $23 per square foot
Executive Summary
CBRE is pleased to exclusively present for sale this 7,500-square-foot King Crab Cajun Seafood Restaurant property located at 4730 Grape Road, Mishawaka, Indiana. Opened in 2021, the property features a triple-net (NNN) lease with King Crab Cajun Seafood, backed by a personal guarantee. The initial 10-year, 6-month lease term offers 7 years of remaining tenancy, with two additional 5-year renewal options and built-in 10% rental increases every 5 years. At a market rent of $23 per square foot, the property provides reliable income and opportunities for long-term value growth in the South Bend–Mishawaka metropolitan market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,500 SF
Building Class
C
Year Built
1994
Price
$2,025,000
Price Per SF
$270
Cap Rate
8.50%
NOI
$172,109
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.93 AC
Zoning
C-1 - Commercial
Parking
150 Spaces (20 Spaces per 1,000 SF Leased)
Frontage
243 FT on Grape Rd
Amenities
- Pylon Sign
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 71-04-33-251-007.000-005 | Improvements Assessment | $289,100 |
| Land Assessment | $483,300 | Total Assessment | $772,400 |
PROPERTY TAXES
Parcel Number
71-04-33-251-007.000-005
Land Assessment
$483,300
Improvements Assessment
$289,100
Total Assessment
$772,400
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King Crab Cajun Seafood Restaurant | 4730 Grape Rd
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