Shopping Community

Town & Country Plaza

496 W Plaza Dr, Columbia City, IN 46725

Listing Price: $3,417,000

Cap Rate
8.73%
Gross SF
58,155
Rentable SF
58,155
Price/Gross SF
$58.76
Lot Size
5.55 acres
Year Built
1988

Investment Overview

Town & Country Plaza consists of a 48,655 square foot shopping center and a 9,500 square foot freestanding Dollar Tree built in 2015, both adjacent to Walmart SuperCenter in Columbia City, IN. The community center is located at a signalized intersection with a large highway pylon sign, with excellent frontage to US 30 with 28,860 cars per day. Columbia City is directly in between Fort Wayne, IN (the 2nd largest City in Indiana) and Warsaw, IN (the orthopedic capital of the world) and has experienced a 21% population growth within the 15 mile trade area since 2000. there are 89,000 residents with a $97,102 average household income in this trade area. The offering is 96% occupied and anchored by Dunham's Sports which is reporting a record-breaking year in unit level store sales this year, and is corporately guaranteed with 230 locations in 22 States (NYSE:RPAI). Label Shopper is corporately guaranteed, leased to April 2029, and offers a 15% administrative fee. Wing's ETC is reporting a 3.5% rent to sales ratio at this location and benefits from the outdoor patio seating and successful take out service. Journey 333 is a growing fitness franchisee with 7 locations, based out of New York. Dollar Tree was built to suit for the tenant in 2015, is a Fortune 500 company with 15,288 stores and has reported a same store sale increase of 15.5% from 2019 to 2020. Town & Country Plaza is located in the dominant retail corridor for the trade area adjacent to Walmart, Anytime Fitness, Tractor Supply, CVS, ALDI Grocery, Dunkin' Donuts, Walgreens, Kroger, AutoZone, Ace Hardware, Arby's, Verizon, Bob Evan's - Please see aerial. The property is 48% occupied by NNN leases and offers a low rent per square foot of $6.61 on average. It is priced well below replacement cost at $58 per square foot and offers an above-market return day one of ownership of 18.84%.

Investment Highlights

  • 48,655 Square Foot Shopping Center and a Freestanding Dollar Tree Built in 2015 (NASDAQ: DLTR) | Adjacent to Walmart SuperCenter
  • Located at a Signalized Intersection with a Large Highway Pylon Sign | Excellent Frontage to US 30 with 28,860+ Vehicles per Day
  • 21% Population Growth within the 15 Mile Trade Area Since 2000 | 89,000 Residents and $97,102 Average Household Income
  • Anchored by Dunham's Sports | Reports Record Breaking Year in Store Sales at This Location | Corporate Guarantee with 230 Locations in 22 States (NYSE: RPAI)
  • Wing's Etc. Reports a 3.5% Rent to Sales Ratio and Increasing Sales | Corporate Guaranty | Benefits from Outdoor Patio Seating
  • Label Shopper is Leased to April 2029 - 76 Locations | Dollar Tree was built to suit for the tenant in 2015 | Journey 333 - Growing Fitness Franchisee - 7 Locations
  • Bedroom Community to Warsaw (Orthopedic Capital of the World) and Fort Wayne/I-69 | Fort Wayne is the 2nd Largest City in Indiana | 439,000 People in Forty Wayne MSA
  • Investment is Being Offered Significantly Below Replacement Cost and Offers an Above-Market Return Day One of Ownership | 48% Of the Property Holds NNN Leases | Low Average Rent of $6.61 per Square Foot

Exclusively Listed By

Financing By

Shopping Community

Town & Country Plaza

Listing Price: $3,417,000

Cap Rate
8.73%
Gross SF
58,155
Rentable SF
58,155
Price/Gross SF
$58.76
Lot Size
5.55 acres
Year Built
1988

Investment Highlights

  • 48,655 Square Foot Shopping Center and a Freestanding Dollar Tree Built in 2015 (NASDAQ: DLTR) | Adjacent to Walmart SuperCenter
  • Located at a Signalized Intersection with a Large Highway Pylon Sign | Excellent Frontage to US 30 with 28,860+ Vehicles per Day
  • 21% Population Growth within the 15 Mile Trade Area Since 2000 | 89,000 Residents and $97,102 Average Household Income
  • Anchored by Dunham's Sports | Reports Record Breaking Year in Store Sales at This Location | Corporate Guarantee with 230 Locations in 22 States (NYSE: RPAI)
  • Wing's Etc. Reports a 3.5% Rent to Sales Ratio and Increasing Sales | Corporate Guaranty | Benefits from Outdoor Patio Seating
  • Label Shopper is Leased to April 2029 - 76 Locations | Dollar Tree was built to suit for the tenant in 2015 | Journey 333 - Growing Fitness Franchisee - 7 Locations
  • Bedroom Community to Warsaw (Orthopedic Capital of the World) and Fort Wayne/I-69 | Fort Wayne is the 2nd Largest City in Indiana | 439,000 People in Forty Wayne MSA
  • Investment is Being Offered Significantly Below Replacement Cost and Offers an Above-Market Return Day One of Ownership | 48% Of the Property Holds NNN Leases | Low Average Rent of $6.61 per Square Foot

Investment Overview

Town & Country Plaza consists of a 48,655 square foot shopping center and a 9,500 square foot freestanding Dollar Tree built in 2015, both adjacent to Walmart SuperCenter in Columbia City, IN. The community center is located at a signalized intersection with a large highway pylon sign, with excellent frontage to US 30 with 28,860 cars per day. Columbia City is directly in between Fort Wayne, IN (the 2nd largest City in Indiana) and Warsaw, IN (the orthopedic capital of the world) and has experienced a 21% population growth within the 15 mile trade area since 2000. there are 89,000 residents with a $97,102 average household income in this trade area. The offering is 96% occupied and anchored by Dunham's Sports which is reporting a record-breaking year in unit level store sales this year, and is corporately guaranteed with 230 locations in 22 States (NYSE:RPAI). Label Shopper is corporately guaranteed, leased to April 2029, and offers a 15% administrative fee. Wing's ETC is reporting a 3.5% rent to sales ratio at this location and benefits from the outdoor patio seating and successful take out service. Journey 333 is a growing fitness franchisee with 7 locations, based out of New York. Dollar Tree was built to suit for the tenant in 2015, is a Fortune 500 company with 15,288 stores and has reported a same store sale increase of 15.5% from 2019 to 2020. Town & Country Plaza is located in the dominant retail corridor for the trade area adjacent to Walmart, Anytime Fitness, Tractor Supply, CVS, ALDI Grocery, Dunkin' Donuts, Walgreens, Kroger, AutoZone, Ace Hardware, Arby's, Verizon, Bob Evan's - Please see aerial. The property is 48% occupied by NNN leases and offers a low rent per square foot of $6.61 on average. It is priced well below replacement cost at $58 per square foot and offers an above-market return day one of ownership of 18.84%.

Exclusively Listed By

Financing By

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