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Shopping Strip

Washington Shopping Center

1717 IN-57, Washington, IN 47501

Listing Price: $5,145,000

Cap Rate
8.00%
Gross SF
29,100
Rentable SF
29,100
Price/Gross SF
$176.80
Lot Size
4.53 acres
Year Built
2007

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Washington Shopping Center, a 29,100-square-foot, multi-tenant retail center located in Washington, Indiana. Washington Shopping Center is currently 100 percent occupied, and all leases are triple-net. Anchored by Dollar Tree and Shoe Sensation, tenants are a complementary mix of national and regional businesses including Spring Valley Bank & Trust, Cricket Wireless, Fantastic Sam's, CATO, Great Wall Chinese, Advance America, H&R Block, and Verizon Wireless. Approximately 57 percent of the gross leasable area is leased to publicly traded companies. Constructed in 2007, the building is situated on a large 4.53-acre lot with ample paved parking. A double-sided monument sign provides additional exposure to the center.

Washington Shopping Center is strategically located on Indiana State Road 57. Traffic counts in front of the property exceed 19,775 vehicles per day. The subject property is shadow-anchored by Walmart Supercenter and near many other national retailers including O'Reilly's Auto Parts, Goodwill, Papa John's, World Finance, AT&T, Burger King, and more. Washington Shopping Center is also in close proximity to multiple national hotel chains, providing additional traffic to the area.

Investment Highlights

  • 29,100-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • Fully Stabilized Asset | 100% Occupied | All Leases are Triple-Net
  • Anchored by Dollar Tree and Shoe Sensation | Shoe Sensation is a New 10-Year Lease with Scheduled Rent Increases and Renewal Options
  • Strong Tenant Base Comprised of 83% National and Regional Retailers | 57% of the GLA is Leased to Publicly Traded Companies: Dollar Tree (NASDAQ: DLTR), CATO (NYSE: CATO), Cricket Wireless (NYSE: T), H&R Block (NYSE: HRB), Verizon Wireless (NYSE: VZ)
  • Building is Situated on a Large 4.53-Acre Parcel | Includes a Pad Site for Possible Future Development

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Shopping Strip

Washington Shopping Center

Listing Price: $5,145,000

Cap Rate
8.00%
Gross SF
29,100
Rentable SF
29,100
Price/Gross SF
$176.80
Lot Size
4.53 acres
Year Built
2007

Investment Highlights

  • 29,100-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • Fully Stabilized Asset | 100% Occupied | All Leases are Triple-Net
  • Anchored by Dollar Tree and Shoe Sensation | Shoe Sensation is a New 10-Year Lease with Scheduled Rent Increases and Renewal Options
  • Strong Tenant Base Comprised of 83% National and Regional Retailers | 57% of the GLA is Leased to Publicly Traded Companies: Dollar Tree (NASDAQ: DLTR), CATO (NYSE: CATO), Cricket Wireless (NYSE: T), H&R Block (NYSE: HRB), Verizon Wireless (NYSE: VZ)
  • Building is Situated on a Large 4.53-Acre Parcel | Includes a Pad Site for Possible Future Development

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Washington Shopping Center, a 29,100-square-foot, multi-tenant retail center located in Washington, Indiana. Washington Shopping Center is currently 100 percent occupied, and all leases are triple-net. Anchored by Dollar Tree and Shoe Sensation, tenants are a complementary mix of national and regional businesses including Spring Valley Bank & Trust, Cricket Wireless, Fantastic Sam's, CATO, Great Wall Chinese, Advance America, H&R Block, and Verizon Wireless. Approximately 57 percent of the gross leasable area is leased to publicly traded companies. Constructed in 2007, the building is situated on a large 4.53-acre lot with ample paved parking. A double-sided monument sign provides additional exposure to the center. Washington Shopping Center is strategically located on Indiana State Road 57. Traffic counts in front of the property exceed 19,775 vehicles per day. The subject property is shadow-anchored by Walmart Supercenter and near many other national retailers including O'Reilly's Auto Parts, Goodwill, Papa John's, World Finance, AT&T, Burger King, and more. Washington Shopping Center is also in close proximity to multiple national hotel chains, providing additional traffic to the area.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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