Jimmy John’s & Smoothie King Anchored Center | 8160-8180 Mississippi St
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Jimmy John’s & Smoothie King Anchored Center 8160-8180 Mississippi St
4,875 SF 100% Leased Retail Building Merrillville, IN 46410 $1,978,919 ($406/SF) 7.26% Cap Rate
Investment Highlights
- 100% Occupied Center Featuring Attractive Lease Structures | Brand New 10-Year Jimmy John’s Lease.
- High-Density Regional Retail Trade Area off of Interstate 65 | Notable Retailers in Close Proximity.
- 0.3 Miles from the Interstate 65 Interchange | 92,669 Vehicles per Day
- Well-Maintained Property - Building Remodeled in 2016.
- Highly Populated Area with Large Workforce | 43 Miles from the Heart of Chicago.
- 99,152 People Live Within Five Miles | 36,636 People Work Within Three Miles
Executive Summary
Marcus & Millichap is pleased to exclusively present a 100 percent occupied center, anchored by Jimmy John's with a brand new 10-year lease, and Smoothie King. All tenants operate on net leases with scheduled rental increases. The restaurants boast seasoned operators, all operating multiple restaurants (contact agent for more details). This well-maintained property was remodeled in 2016, and features a drive-thru, adding value and flexibility to current and future tenancy, Subject property is conveniently situated in a high-density, regional trade area, 0.3 miles from a super-regional mall, and off of Interstate 65, with 92,669 vehicles per day. Southlake Mall had over 6.4 million visits in the last 12 months, per Placer.ai, and is home to over 150 stores including JCPenney, Macy's, H&M, and more. This area is highly populated, just 43 miles from the heart of Chicago, with nearly 100,000 people living within five miles, and over 36,000 people working within three miles.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,875 SF
Building Class
B
Year Built/Renovated
1978/2016
Price
$1,978,919
Price Per SF
$406
Cap Rate
7.26%
NOI
$143,694
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
1.13 AC
Zoning
C-3 - C-3
Parking
77 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 45-12-22-426-009.000-030 | Improvements Assessment | $384,800 |
| Land Assessment | $694,100 | Total Assessment | $1,078,900 |
PROPERTY TAXES
Parcel Number
45-12-22-426-009.000-030
Land Assessment
$694,100
Improvements Assessment
$384,800
Total Assessment
$1,078,900
Contacts
-
Sean Sharko -
Phoebe Klein -
Austin Weisenbeck -
Sharko | Weisenbeck | Mendoza Group
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Jimmy John’s & Smoothie King Anchored Center | 8160-8180 Mississippi St
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