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Department Store

Staples

2106 Morthland Dr, Valparaiso, IN 46383

Listing Price: $2,167,440

Cap Rate
10.00%
Tenant Name
Staples
Years Remaining On Lease
2.5
Guarantor
Corporate Guarantee
Rentable SF
24,049
Lease Type
Double Net
Rent Per Square Feet
$9.98

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 2106 Morthland Drive (The Property), a 24,049 square-foot building that is currently leased to and guaranteed by Staples. The tenant has 2.5+ Years Remaining on their 10-year extension in October of 2013. This extension showed commitment to the location as well as the prominence of this trade area. A condition to Staples’ extension was that they were going to give back one-third of the total leasable square-footage, bringing their total occupied premise to 16,035 square-feet. The Property stands strategically located off the signalized intersection of Sturdy Road and Lincoln Highway, in which Valparaiso University sits at the Northwest Corner of. This offering presents the opportunity to acquire perpetual college campus real estate in a sought after and growing Valparaiso market for a very palatable basis.

Investment Highlights

  • Excellent Demographics – Nearly $100,000 Average Household Income
  • Nominal Purchase Price – Irreplaceable Location
  • Nominal Purchase Price – Irreplaceable Location
  • High Visibility Site with Multiple Entrance Points - 45,000+ Vehicles per Day

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

Listing Price: $2,167,440

Cap Rate
10.00%
Tenant Name
Staples
Years Remaining On Lease
2.5
Guarantor
Corporate Guarantee
Rentable SF
24,049
Lease Type
Double Net
Rent Per Square Feet
$9.98

Investment Highlights

  • Excellent Demographics – Nearly $100,000 Average Household Income
  • Nominal Purchase Price – Irreplaceable Location
  • Nominal Purchase Price – Irreplaceable Location
  • High Visibility Site with Multiple Entrance Points - 45,000+ Vehicles per Day

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 2106 Morthland Drive (The Property), a 24,049 square-foot building that is currently leased to and guaranteed by Staples. The tenant has 2.5+ Years Remaining on their 10-year extension in October of 2013. This extension showed commitment to the location as well as the prominence of this trade area. A condition to Staples’ extension was that they were going to give back one-third of the total leasable square-footage, bringing their total occupied premise to 16,035 square-feet. The Property stands strategically located off the signalized intersection of Sturdy Road and Lincoln Highway, in which Valparaiso University sits at the Northwest Corner of. This offering presents the opportunity to acquire perpetual college campus real estate in a sought after and growing Valparaiso market for a very palatable basis.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

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