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Shopping Strip

South Lake Retail Center

4831 E Lincoln Hwy, Merrillville, IN 46410

Listing Price: $9,600,000

Cap Rate
7.03%
Gross SF
59,800
Rentable SF
59,800
Price/Gross SF
$160.54
Lot Size
10.00 acres
Year Built
2011

Investment Overview

Marcus & Millichap is pleased to present the South Lake Retail Center in Merrillville, Indiana. South Lake Retail Center is comprised of two mutli-tenant strip centers and is positioned on about 10.14 acres along U.S. Highway 30, also referred to as East Lincoln Highway which has over 53,000 vehicles per day. The retail center benefits from excellent visibility along U.S. 30, which is one of the main thoroughfares in Merrillville. The highway runs northwest into the heart of Schererville, and runs southeast feeding into Valparaiso, another major market located in the northwest region of Indiana. Valparaiso, home of Valparaiso University is just 12 miles from the site, with the city of Chicago only 44 miles Northwest of the site. The property further benefits from having over 64,000 people living within five miles of the center.  The center is perfectly positioned just east of the major retail corridor in Merrillville, just off of I-65, another major highway in Indiana which draws considerable consumer traffic through the area. The South Lake Mall sits just west of the property and is the only enclosed super regional mall in northwest Indiana, with over 7 million visitors each year. There are several other big-box retailers nearby including; Walmart, Sam’s Club, Home Depot, Target, Dick’s Sporting Goods, and Best Buy. This pocket serves as a major economic and traffic driver to this area further solidifying the strong location of the South Lake Retail Center.  The South Lake Retail Center is currently 96 percent occupied with a mix of local and national tenants including Anytime Fitness, Indiana BMV, Miracle-Ear, Farmers Insurance, and Mariner Finance. All of the leases are gross providing upside to a new owner in converting them to triple-net leases.

Investment Highlights

  • Offering Includes Two Multi-Tenant Retail Centers | 59,800+/- Square-Feet | Positioned on about 10.14 Acres
  • 96 Percent Occupied | Strong Historical Occupancy
  • Gross Lease Structures Providing Considerable Value-Add Potential | 10 Percent+ Pro-Forma Cap Rate Converting Leases to Triple-Net
  • Ideal Tenant Mix | 37 Percent National Tenants including Anytime Fitness, Miracle-Ear, Midwest Express Clinic, Farmers Insurance & Mariner's Finance| Regional & Local Tenants with a Long-Term Operating History at this Location
  • Dense Retail Corridor Home to Sam's Club, Walmart, Target, Home Depot, Dick's Sporting Goods & Best Buy | Also Home to the South Lake Mall – 7 Million Visits Annually & the Only Enclosed Super Regional Mall in Northwest Indiana
  • Located Adjacent to the Albanese Candy Factory | Tourist Attraction & Major Economic & Traffic Driver for this Area | Home to the "World's Best Gummies"
  • Direct Exposure to more than 53,000 Cars per Day Along U.S. Route 30 | Interstate 65 Traffic Counts Exceed 110,000 VPD | 64,985 Residents within Five Miles | Five-Mile Average Household Income: $82,000+
  • 12 Miles from Valparaiso, IN & the University of Valparaiso. | 44 Miles from Chicago | 67 Miles from South Bend and University of Notre Dame | 4.7 Miles from 190,000 Square-Foot Amazon Facility

Exclusively Listed By

Shopping Strip

South Lake Retail Center

Listing Price: $9,600,000

Cap Rate
7.03%
Gross SF
59,800
Rentable SF
59,800
Price/Gross SF
$160.54
Lot Size
10.00 acres
Year Built
2011

Investment Highlights

  • Offering Includes Two Multi-Tenant Retail Centers | 59,800+/- Square-Feet | Positioned on about 10.14 Acres
  • 96 Percent Occupied | Strong Historical Occupancy
  • Gross Lease Structures Providing Considerable Value-Add Potential | 10 Percent+ Pro-Forma Cap Rate Converting Leases to Triple-Net
  • Ideal Tenant Mix | 37 Percent National Tenants including Anytime Fitness, Miracle-Ear, Midwest Express Clinic, Farmers Insurance & Mariner's Finance| Regional & Local Tenants with a Long-Term Operating History at this Location
  • Dense Retail Corridor Home to Sam's Club, Walmart, Target, Home Depot, Dick's Sporting Goods & Best Buy | Also Home to the South Lake Mall – 7 Million Visits Annually & the Only Enclosed Super Regional Mall in Northwest Indiana
  • Located Adjacent to the Albanese Candy Factory | Tourist Attraction & Major Economic & Traffic Driver for this Area | Home to the "World's Best Gummies"
  • Direct Exposure to more than 53,000 Cars per Day Along U.S. Route 30 | Interstate 65 Traffic Counts Exceed 110,000 VPD | 64,985 Residents within Five Miles | Five-Mile Average Household Income: $82,000+
  • 12 Miles from Valparaiso, IN & the University of Valparaiso. | 44 Miles from Chicago | 67 Miles from South Bend and University of Notre Dame | 4.7 Miles from 190,000 Square-Foot Amazon Facility

Investment Overview

Marcus & Millichap is pleased to present the South Lake Retail Center in Merrillville, Indiana. South Lake Retail Center is comprised of two mutli-tenant strip centers and is positioned on about 10.14 acres along U.S. Highway 30, also referred to as East Lincoln Highway which has over 53,000 vehicles per day. The retail center benefits from excellent visibility along U.S. 30, which is one of the main thoroughfares in Merrillville. The highway runs northwest into the heart of Schererville, and runs southeast feeding into Valparaiso, another major market located in the northwest region of Indiana. Valparaiso, home of Valparaiso University is just 12 miles from the site, with the city of Chicago only 44 miles Northwest of the site. The property further benefits from having over 64,000 people living within five miles of the center.  The center is perfectly positioned just east of the major retail corridor in Merrillville, just off of I-65, another major highway in Indiana which draws considerable consumer traffic through the area. The South Lake Mall sits just west of the property and is the only enclosed super regional mall in northwest Indiana, with over 7 million visitors each year. There are several other big-box retailers nearby including; Walmart, Sam’s Club, Home Depot, Target, Dick’s Sporting Goods, and Best Buy. This pocket serves as a major economic and traffic driver to this area further solidifying the strong location of the South Lake Retail Center.  The South Lake Retail Center is currently 96 percent occupied with a mix of local and national tenants including Anytime Fitness, Indiana BMV, Miracle-Ear, Farmers Insurance, and Mariner Finance. All of the leases are gross providing upside to a new owner in converting them to triple-net leases.

Exclusively Listed By

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