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Shopping Neighborhood

Country Fair Plaza | Jimmy John's & Family Dollar Anchor

1801 N Wayne St, Angola, IN 46703

Listing Price: $4,350,000

Cap Rate
8.00%
Gross SF
41,962
Rentable SF
41,962
Price/Gross SF
$103.67
Lot Size
5.43 acres
Year Built
1972

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Country Fair Plaza, a 41,962-square-foot community shopping center located in Angola, Indiana. Country Fair Plaza sits on 5.43 acres along North Wayne Street, Angola’s main retail corridor that experiences approximately 20,000 vehicles per day. The subject property has some of the best visibility of any shopping center in the community along with some of the most competitive rents in the market averaging $8 per square-foot triple-net (NNN) annually. The tenant roster features a diverse mix of service-oriented tenants; with 54 percent of the GLA having long-term historical occupancy exceeding 10+ years; and 24 percent of the GLA being leased by national corporate brands (Family Dollar & Jimmy John’s). Angola is home to Trine University and Pokagon State Park/Lake James area, a summer and winter tourist destination that experiences an influx of seasonal homeowners and a significant number of tourists annually. The retail corridor is filled with major national retailer including Walmart, Meijer, Menards, Rural King, Starbucks, Walgreens, Buffalo Wild Wings, Aldi, Tractor Supply Company, Taco Bell, McDonald’s, Arby’s and Domino’s Pizza. Country Fair Plaza offers an incoming investor the opportunity to acquire a well-maintained and highly visible shopping center along Angola’s main retail corridor with the ability to grow rents and property value over the investment holding period. The long history of high occupancy paired with the triple-net lease structure of the tenants makes this an ideal investment for an active owner seeking rent growth and capital appreciation or a passive owner seeking current cash flow on a center with stabilized occupancy.

Investment Highlights

  • Well-maintained and highly visible shopping center along a main retail corridor
  • 54% of the GLA has been operating at this location for over a decade. 24% of the GLA is leased by corporate credit national tenants
  • Main Retail Corridor Location- North Wayne Street is the Main Retail Artery of Angola and is Filled with Various National Retailers Including Walmart, Menard's, Kohl's & Meijer
  • Sustainable base rent and triple-net expense reimbursements compared to the immediate area
  • Vacation Destination City- Angola is home to Lake James, Indiana's Fourth Largest Lake and Pokagon State Park, a 1,200+ acre State Park that Offers Various Outdoor Activities
  • University City- Trine University is a 450 Acre, Private University with More Than $176 Million of Campus Improvements Made Since 2000

Exclusively Listed By

Shopping Neighborhood

Country Fair Plaza | Jimmy John's & Family Dollar Anchor

Listing Price: $4,350,000

Cap Rate
8.00%
Gross SF
41,962
Rentable SF
41,962
Price/Gross SF
$103.67
Lot Size
5.43 acres
Year Built
1972

Investment Highlights

  • Well-maintained and highly visible shopping center along a main retail corridor
  • 54% of the GLA has been operating at this location for over a decade. 24% of the GLA is leased by corporate credit national tenants
  • Main Retail Corridor Location- North Wayne Street is the Main Retail Artery of Angola and is Filled with Various National Retailers Including Walmart, Menard's, Kohl's & Meijer
  • Sustainable base rent and triple-net expense reimbursements compared to the immediate area
  • Vacation Destination City- Angola is home to Lake James, Indiana's Fourth Largest Lake and Pokagon State Park, a 1,200+ acre State Park that Offers Various Outdoor Activities
  • University City- Trine University is a 450 Acre, Private University with More Than $176 Million of Campus Improvements Made Since 2000

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire Country Fair Plaza, a 41,962-square-foot community shopping center located in Angola, Indiana. Country Fair Plaza sits on 5.43 acres along North Wayne Street, Angola’s main retail corridor that experiences approximately 20,000 vehicles per day. The subject property has some of the best visibility of any shopping center in the community along with some of the most competitive rents in the market averaging $8 per square-foot triple-net (NNN) annually. The tenant roster features a diverse mix of service-oriented tenants; with 54 percent of the GLA having long-term historical occupancy exceeding 10+ years; and 24 percent of the GLA being leased by national corporate brands (Family Dollar & Jimmy John’s). Angola is home to Trine University and Pokagon State Park/Lake James area, a summer and winter tourist destination that experiences an influx of seasonal homeowners and a significant number of tourists annually. The retail corridor is filled with major national retailer including Walmart, Meijer, Menards, Rural King, Starbucks, Walgreens, Buffalo Wild Wings, Aldi, Tractor Supply Company, Taco Bell, McDonald’s, Arby’s and Domino’s Pizza. Country Fair Plaza offers an incoming investor the opportunity to acquire a well-maintained and highly visible shopping center along Angola’s main retail corridor with the ability to grow rents and property value over the investment holding period. The long history of high occupancy paired with the triple-net lease structure of the tenants makes this an ideal investment for an active owner seeking rent growth and capital appreciation or a passive owner seeking current cash flow on a center with stabilized occupancy.

Exclusively Listed By

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