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Shopping Neighborhood

Maplecrest Shops

7225 Maplecrest Rd, Fort Wayne, IN 46835

Listing Price: $3,640,000

Cap Rate
7.35%
Gross SF
25,575
Rentable SF
25,575
Price/Gross SF
$142.33
Lot Size
1.49 acres
Year Built
2004

Investment Overview

Maplecrest Shops is a 25,575 Square Foot E-Commerce Resistant Neighborhood Center Offered Below Replacement Cost with Multiple Upside Opportunities | Located at a Signalized Intersection with Large Pylon Signage & Strong Traffic Counts of 35,280+ Cars per Day New 10 Year Lease with Lucille's BBQ Restaurant with ~4% Annual Rent Increases | 2nd Location in Fort Wayne with Carry Out, Catering, and Full Bar Including a 3 Way Liquor License that Runs with the Land | Tenant Just Invested $500,000 into the Remodel | Grand Opening April 2022 Located in Growing, Affluent Northeast Region in the 2nd Largest City in Indiana | 5 Mile Population Has Increased by 19% Since 2000 | The City Widened Maplecrest Road to 4 Lanes in 2020 Due to Traffic Anchored by Iron Society Strength & Fitness with 8 Years Remaining – Multi-Unit Fitness Operator and Original Tenant | Flagship Location with Multiple Gym Spaces, Open Equipment, Group Classes and Personal Training 100% Occupied by 5 Service Tenants with Strong Synergy | 03 Fitness Equipment & Supplements Leases Equipment to Iron Society and Sold out of Inventory During Covid Additional Pad-Ready Land Included - Add Income by Developing Up to 16,000 Square Feet on .572 Acre Parcel | Upside in Increasing Below Market Rents - Tenants Paying $11.60 Average/Square Foot Upside in Increased Foot Traffic from Development of Former Adjacent Grocery | Local Investor Just Purchased 65,000 Square Feet Adjacent to Maplecrest Shops to Develop into a Recreational Center with Arcades, Electric Go-Karts, Mini Golf and More Large Pylon Signage and 5 Points of Access from Maplecrest Rd, a 4 Lane Retail Thoroughfare | Located 1 Mile of I-469 with 47,978 Cars per Day | Located ½ Mile from 23 Acre Development 41 North Apartments – 300 New Apartments Long Term Historical Occupancies - Iron Society is an Original Tenant Since 2004 | Sarah's Nail Art has Occupied this Suite Since 2013 - Expressed Interest in Expanding | All Kinds Hair has Occupied this Space Since 2017 and Recently Extended the Lease for 10 Years 

Investment Highlights

  • 25,575 Square Foot E-Commerce Resistant Neighborhood Center Offered Below Replacement Cost with Multiple Upside Opportunities | Strong Traffic Counts of 35,280+ Cars per Day at Intersection
  • New 10 Year Lease with Lucille's BBQ Restaurant with ~4% Annual Rent Increases | 2nd Location in Fort Wayne with Carry Out, Catering, and Full Bar Including a 3 Way Liquor License
  • Iron Society is an Original Tenant Since 2004 | Sarah's Nail Art has Occupied this Suite Since 2013 - Expressed Interest in Expanding | All Kinds Hair Recently Extended for 11 Years
  • Additional Pad-Ready Land Included - Add Income by Developing Up to 16,000 Square Feet on .572 Acre Parcel | Upside in Increasing Below Market Rents - Tenants Paying $11.60 Average/Square Foot

Exclusively Listed By

Financing By

Shopping Neighborhood

Maplecrest Shops

Listing Price: $3,640,000

Cap Rate
7.35%
Gross SF
25,575
Rentable SF
25,575
Price/Gross SF
$142.33
Lot Size
1.49 acres
Year Built
2004

Investment Highlights

  • 25,575 Square Foot E-Commerce Resistant Neighborhood Center Offered Below Replacement Cost with Multiple Upside Opportunities | Strong Traffic Counts of 35,280+ Cars per Day at Intersection
  • New 10 Year Lease with Lucille's BBQ Restaurant with ~4% Annual Rent Increases | 2nd Location in Fort Wayne with Carry Out, Catering, and Full Bar Including a 3 Way Liquor License
  • Iron Society is an Original Tenant Since 2004 | Sarah's Nail Art has Occupied this Suite Since 2013 - Expressed Interest in Expanding | All Kinds Hair Recently Extended for 11 Years
  • Additional Pad-Ready Land Included - Add Income by Developing Up to 16,000 Square Feet on .572 Acre Parcel | Upside in Increasing Below Market Rents - Tenants Paying $11.60 Average/Square Foot

Investment Overview

Maplecrest Shops is a 25,575 Square Foot E-Commerce Resistant Neighborhood Center Offered Below Replacement Cost with Multiple Upside Opportunities | Located at a Signalized Intersection with Large Pylon Signage & Strong Traffic Counts of 35,280+ Cars per Day New 10 Year Lease with Lucille's BBQ Restaurant with ~4% Annual Rent Increases | 2nd Location in Fort Wayne with Carry Out, Catering, and Full Bar Including a 3 Way Liquor License that Runs with the Land | Tenant Just Invested $500,000 into the Remodel | Grand Opening April 2022 Located in Growing, Affluent Northeast Region in the 2nd Largest City in Indiana | 5 Mile Population Has Increased by 19% Since 2000 | The City Widened Maplecrest Road to 4 Lanes in 2020 Due to Traffic Anchored by Iron Society Strength & Fitness with 8 Years Remaining – Multi-Unit Fitness Operator and Original Tenant | Flagship Location with Multiple Gym Spaces, Open Equipment, Group Classes and Personal Training 100% Occupied by 5 Service Tenants with Strong Synergy | 03 Fitness Equipment & Supplements Leases Equipment to Iron Society and Sold out of Inventory During Covid Additional Pad-Ready Land Included - Add Income by Developing Up to 16,000 Square Feet on .572 Acre Parcel | Upside in Increasing Below Market Rents - Tenants Paying $11.60 Average/Square Foot Upside in Increased Foot Traffic from Development of Former Adjacent Grocery | Local Investor Just Purchased 65,000 Square Feet Adjacent to Maplecrest Shops to Develop into a Recreational Center with Arcades, Electric Go-Karts, Mini Golf and More Large Pylon Signage and 5 Points of Access from Maplecrest Rd, a 4 Lane Retail Thoroughfare | Located 1 Mile of I-469 with 47,978 Cars per Day | Located ½ Mile from 23 Acre Development 41 North Apartments – 300 New Apartments Long Term Historical Occupancies - Iron Society is an Original Tenant Since 2004 | Sarah's Nail Art has Occupied this Suite Since 2013 - Expressed Interest in Expanding | All Kinds Hair has Occupied this Space Since 2017 and Recently Extended the Lease for 10 Years 

Exclusively Listed By

Financing By

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