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Shopping Strip

3-Tenant Retail Outparcel

3029 Calumet Ave, Valparaiso, IN 46383

Listing Price: $1,743,000

Cap Rate
7.25%
Gross SF
7,541
Rentable SF
7,541
Price/Gross SF
$231.14
Lot Size
1.27 acres
Year Built
2008

Investment Overview

Marcus and Millichap is pleased to present the opportunity to purchase the fee simple interest in a 3-Tenant Retail Outparcel located within the Cumberland Crossing Retail Center in Valparaiso, Indiana. The property is shadow anchored by a high traffic YMCA building, as well as the other retailers operating within Cumberland Crossing, including Starbucks, Burger King, and Dairy Queen, with other national tenants coming soon. The property benefits from high end brick construction that has been beautifully maintained.
This retail center is leased to a Salon Lofts, Venus Nails, and an Indiana Farm Bureau Insurance Agency. All three tenants operate on NNN leases and have signed numerous renewal options since first taking occupancy in Cumberland Crossing, additionally these tenants have — on average — well over 10 years of tenure at this property.
Valparaiso is an appealing community located within the greater Chicago MSA. The town is known for being the home to Valparaiso University, and is an idyllic place to raise a family. Cumberland Crossing is one of the most upscale retail developments in Valparaiso, with several exciting new projects coming over the next year or so. It’s located on the way to Valparaiso’s new Sports & Recreation Campus, a 248-acre, $30M sports complex that will include seven turf fields, natural walking paths, an outdoor events space, and multiple playgrounds.
Please reach out to Marcus & Millichap with additional questions and interest.

Investment Highlights

  • Class A Multi-Tenant Retail Center shadow anchored by a high traffic YMCA
  • High historical occupancy — leased to three long-term, service-oriented retailers who have been here 10+ years
  • Appealing basis for a newer construction retail property — offered below replacement cost at only $231/sf
  • Located within a larger development populated by a variety of appealing national tenants such as Starbucks, Burger King, and Dairy Queen — with more on their way
  • Valparaiso is among the most sought-after communities in Northwest Indiana

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Shopping Strip

3-Tenant Retail Outparcel

Listing Price: $1,743,000

Cap Rate
7.25%
Gross SF
7,541
Rentable SF
7,541
Price/Gross SF
$231.14
Lot Size
1.27 acres
Year Built
2008

Investment Highlights

  • Class A Multi-Tenant Retail Center shadow anchored by a high traffic YMCA
  • High historical occupancy — leased to three long-term, service-oriented retailers who have been here 10+ years
  • Appealing basis for a newer construction retail property — offered below replacement cost at only $231/sf
  • Located within a larger development populated by a variety of appealing national tenants such as Starbucks, Burger King, and Dairy Queen — with more on their way
  • Valparaiso is among the most sought-after communities in Northwest Indiana

Investment Overview

Marcus and Millichap is pleased to present the opportunity to purchase the fee simple interest in a 3-Tenant Retail Outparcel located within the Cumberland Crossing Retail Center in Valparaiso, Indiana. The property is shadow anchored by a high traffic YMCA building, as well as the other retailers operating within Cumberland Crossing, including Starbucks, Burger King, and Dairy Queen, with other national tenants coming soon. The property benefits from high end brick construction that has been beautifully maintained. This retail center is leased to a Salon Lofts, Venus Nails, and an Indiana Farm Bureau Insurance Agency. All three tenants operate on NNN leases and have signed numerous renewal options since first taking occupancy in Cumberland Crossing, additionally these tenants have — on average — well over 10 years of tenure at this property. Valparaiso is an appealing community located within the greater Chicago MSA. The town is known for being the home to Valparaiso University, and is an idyllic place to raise a family. Cumberland Crossing is one of the most upscale retail developments in Valparaiso, with several exciting new projects coming over the next year or so. It’s located on the way to Valparaiso’s new Sports & Recreation Campus, a 248-acre, $30M sports complex that will include seven turf fields, natural walking paths, an outdoor events space, and multiple playgrounds. Please reach out to Marcus & Millichap with additional questions and interest.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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