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Shopping Neighborhood

McKenzie Plaza

1222 N State St, Greenfield, IN 46140

Listing Price: $13,850,000

Cap Rate
8.10%
Gross SF
84,056
Rentable SF
84,056
Price/Gross SF
$164.77
Lot Size
7.71 acres
Year Built
1988

Investment Overview

Located at the Signalized Intersection on the Main Retail Artery of Greenfield, IN | High Traffic Corridor with 25,839 Cars Per Day | Site Benefits from Oversized Pylon Sign Located at Main Entrance | Six Points of Ingress/Egress
Significant, Recent Capital Expenditures Made by Landlord – Brand New Anchor Redevelopment and McAlister’s Strip Center | Ace Hardware’s Roof was Replaced in 2022 | The Ace Hardware Building, AT&T and Jimmy John’s Center All have 20-Year Roof Warranties | McAlister’s Center has a 10-Year Roof Warranty
Value Add Components: Leasing Up the Vacant Space, Increasing the Below Market Rents Over Time, and Converting Remaining Gross Leases to NNN
Strong Performing Retailers: The Nearby Kroger Ranks 88% Nationwide in Visits |In Indiana, Home Depot Ranks 95%, Starbucks Ranks 94% Chick-Fil-A Ranks 97%, Walmart Ranks 95%, Planet Fitness Ranks 84%, Cracker Barrel Ranks 92%, Tractor Supply Ranks 84% in Foot Traffic (Placer.aAI)
In McKenzie Plaza, McAlister’s Deli Ranks 88% and Aaron’s Ranks 87% Nationwide in Foot Traffic (Placer.AI)
Part of the Indianapolis MSA with over 2.1 Million Residents | Indianapolis is the 16th Largest City in the US | | Indiana was Ranked as the Best State to Start a Business by Forbes in 2023 | Venture Investments in the Indianapolis MSA Surpassed $1 Billion for the Second Consecutive Year in 2023

Investment Highlights

  • 93.77% Occupied Neighborhood Shopping Center with Service, Retail, and Restaurant Tenant Mix | 23 Miles from Indianapolis City Center | Half Mile from I-70 (52,860 VPD)
  • Anchored by Corporately Owned Great Lakes Ace Hardware | Site Offers Three Outparcels with Three Drive-Thrus and a Patio
  • Newly Developed Outparcel Buildings: AT&T (2016), Jimmy John's and Don Rigo (2015), and McAlister's Deli Strip Center (2023)

Exclusively Listed By

Shopping Neighborhood

McKenzie Plaza

Listing Price: $13,850,000

Cap Rate
8.10%
Gross SF
84,056
Rentable SF
84,056
Price/Gross SF
$164.77
Lot Size
7.71 acres
Year Built
1988

Investment Highlights

  • 93.77% Occupied Neighborhood Shopping Center with Service, Retail, and Restaurant Tenant Mix | 23 Miles from Indianapolis City Center | Half Mile from I-70 (52,860 VPD)
  • Anchored by Corporately Owned Great Lakes Ace Hardware | Site Offers Three Outparcels with Three Drive-Thrus and a Patio
  • Newly Developed Outparcel Buildings: AT&T (2016), Jimmy John's and Don Rigo (2015), and McAlister's Deli Strip Center (2023)

Investment Overview

Located at the Signalized Intersection on the Main Retail Artery of Greenfield, IN | High Traffic Corridor with 25,839 Cars Per Day | Site Benefits from Oversized Pylon Sign Located at Main Entrance | Six Points of Ingress/Egress Significant, Recent Capital Expenditures Made by Landlord – Brand New Anchor Redevelopment and McAlister’s Strip Center | Ace Hardware’s Roof was Replaced in 2022 | The Ace Hardware Building, AT&T and Jimmy John’s Center All have 20-Year Roof Warranties | McAlister’s Center has a 10-Year Roof Warranty Value Add Components: Leasing Up the Vacant Space, Increasing the Below Market Rents Over Time, and Converting Remaining Gross Leases to NNN Strong Performing Retailers: The Nearby Kroger Ranks 88% Nationwide in Visits |In Indiana, Home Depot Ranks 95%, Starbucks Ranks 94% Chick-Fil-A Ranks 97%, Walmart Ranks 95%, Planet Fitness Ranks 84%, Cracker Barrel Ranks 92%, Tractor Supply Ranks 84% in Foot Traffic (Placer.aAI) In McKenzie Plaza, McAlister’s Deli Ranks 88% and Aaron’s Ranks 87% Nationwide in Foot Traffic (Placer.AI) Part of the Indianapolis MSA with over 2.1 Million Residents | Indianapolis is the 16th Largest City in the US | | Indiana was Ranked as the Best State to Start a Business by Forbes in 2023 | Venture Investments in the Indianapolis MSA Surpassed $1 Billion for the Second Consecutive Year in 2023

Exclusively Listed By

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