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Shopping Strip

Fortune Plaza | 100% Occupied with NNN Leases | Walmart Supercenter Shadow-Anchored

2450 IN-44, Shelbyville (Indianapolis MSA), IN 46176

Listing Price: $3,750,000

Cap Rate
7.75%
Gross SF
19,664
Rentable SF
19,664
Price/Gross SF
$190.70
Lot Size
1.72 acres
Year Built
1965

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Fortune Plaza (the "Property"), a 19,664 square foot, multi-tenant, retail property that is shadow anchored by Walmart located in Shelbyville, Indiana a nearby community to Indianapolis. The Property consists of approximately 1.72 acres of prime real estate sitting on a signalized hard corner at the entrance to Walmart. The Property is situated along Indiana State Road 44, a major north and south retail corridor that experiences traffic counts in excess of 14,000+ vehicles-per-day. The Property has 8 quality tenants who are all subject to a triple-net lease with staggering lease expirations. Shadow-anchored by a Walmart Super Center that has been recently remodeled, the property has strong access with multiple points of ingress and egress. Signage and frontage visibility is excellent to Indiana State Road 44 is well-seen by the vehicles travel through the hard-corner intersection. Fortune Plaza is currently 100 percent occupied with a mix of regional and local tenants. Tenants within the subject property include, Cricket Wireless, Centra Credit Union, Jeff Canfield Dental, Spartan Staffing, TA Nails, King Buffet Chinese Restaurant, Vape Shop and Great Subs. All of these tenants are on full reimbursement triple net lease structure and most allow for the recapture of administrative expenses. Fortune Plaza offers investors a unique opportunity to purchase a shopping center located in a growing county with stable and increasing cash flows located at the main entrance point of the most dominant retailer in the trade area.

Investment Highlights

  • Near the "Horseshoe" a Casino & Racetrack owned by Caesars and one of only two casinos in the entire Indianapolis MSA. Recent $34 million renovation completed in 2022
  • 19,664 SF Super Walmart Shadow-Anchored Center
  • 0.25 Miles From Interstate 74, A Major Interstate that Connects Ohio, Indiana and Illinois and Experiences Approximately 40,000 Vehicles-Per-Day
  • Fully occupied with a good blend of "internet resistant" tenants with sustainable rents
  • Staggered lease expirations allow for both stable cash flow and upside opportunity with the raising of rents
  • Well positioned at the only signalized access point to the only Walmart Super center in the county
  • Highly visible to Indiana State Road 44

Exclusively Listed By

Shopping Strip

Fortune Plaza | 100% Occupied with NNN Leases | Walmart Supercenter Shadow-Anchored

Listing Price: $3,750,000

Cap Rate
7.75%
Gross SF
19,664
Rentable SF
19,664
Price/Gross SF
$190.70
Lot Size
1.72 acres
Year Built
1965

Investment Highlights

  • Near the "Horseshoe" a Casino & Racetrack owned by Caesars and one of only two casinos in the entire Indianapolis MSA. Recent $34 million renovation completed in 2022
  • 19,664 SF Super Walmart Shadow-Anchored Center
  • 0.25 Miles From Interstate 74, A Major Interstate that Connects Ohio, Indiana and Illinois and Experiences Approximately 40,000 Vehicles-Per-Day
  • Fully occupied with a good blend of "internet resistant" tenants with sustainable rents
  • Staggered lease expirations allow for both stable cash flow and upside opportunity with the raising of rents
  • Well positioned at the only signalized access point to the only Walmart Super center in the county
  • Highly visible to Indiana State Road 44

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present for sale Fortune Plaza (the "Property"), a 19,664 square foot, multi-tenant, retail property that is shadow anchored by Walmart located in Shelbyville, Indiana a nearby community to Indianapolis. The Property consists of approximately 1.72 acres of prime real estate sitting on a signalized hard corner at the entrance to Walmart. The Property is situated along Indiana State Road 44, a major north and south retail corridor that experiences traffic counts in excess of 14,000+ vehicles-per-day. The Property has 8 quality tenants who are all subject to a triple-net lease with staggering lease expirations. Shadow-anchored by a Walmart Super Center that has been recently remodeled, the property has strong access with multiple points of ingress and egress. Signage and frontage visibility is excellent to Indiana State Road 44 is well-seen by the vehicles travel through the hard-corner intersection. Fortune Plaza is currently 100 percent occupied with a mix of regional and local tenants. Tenants within the subject property include, Cricket Wireless, Centra Credit Union, Jeff Canfield Dental, Spartan Staffing, TA Nails, King Buffet Chinese Restaurant, Vape Shop and Great Subs. All of these tenants are on full reimbursement triple net lease structure and most allow for the recapture of administrative expenses. Fortune Plaza offers investors a unique opportunity to purchase a shopping center located in a growing county with stable and increasing cash flows located at the main entrance point of the most dominant retailer in the trade area.

Exclusively Listed By

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