Location: 955 East North Street, Kendallville, Indiana 

Details:

Square Footage: 87,771 SF
Sale Price: $3,965,000

Comments

95 E. North Street is a 87,771-square foot shopping center located in Kendallville, Indiana. Kendallville is located 20 miles north of Fort Wayne and in direct proximity to Interstate 69 which connects Lansing to the north with Indianapolis to the south. The property is currently over 98.75 percent occupied with national tenants Advance Auto Parts, Tractor Supply Company and Save-a-Lot Grocery Stores. The remaining tenant mix is made up of local and regional tenants. This multi-tenant retail center provides an investor the opportunity to purchase a shopping center at a very low price per square foot of $45 with very sustainable market rents and significant additional upside regarding the Tractor Supply Company re-lease.

INVESTMENT HIGHLIGHTS:

  • Low price per square foot of $45
  • Community shopping center anchored by Tractor Supply Company
  • Excellent visibility on US Highway 6, the area’s main retail thoroughfare (15,064 ADT, 2013)
  • Strong national retail presence with Advance Auto Parts, Tractor Supply Company and Save-a-Lot Grocery
  • 98.75% leased at sustainable, market rents
  • Upside in Tractor Supply re-lease at market rents
  • Convenient location only 10 miles from Interstate 69
  • 20 miles north of Fort Wayne, Indiana’s second largest city
  • Part of Fort Wayne- Huntington-Auburn combined statistical area (CSA) with a population of 570,779

955 East North Street, Kendallville, Indiana

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