2200 Elmwood Ave Lafayette, IN 47904

This exceptional 132,429 square foot retail center, located at 2200 Elmwood Ave in Lafayette, Indiana, presents a compelling investment opportunity. Boasting an 8.60% cap rate and a low price per square foot of $91.79, this property offers significant upside potential. The center features a diverse mix of tenants, including Dollar General, First Merchants Bank, Rent-a-Center, and several medical and government tenants, ensuring a stable income stream. Built between 1940 and 1977 with renovations completed between 2019 and 2023, the property sits on a 20.595-acre lot and benefits from a prime location just 2.5 miles from Purdue University, a major employment and population center with over 40,000 students and 15,000 employees. The center enjoys high visibility with multiple signalized entrances and prominent signage. The strong tenant base, coupled with the robust local economy and the area's designation as the #1 emerging housing market in America in 2023, makes this a highly attractive investment. The property's NOI is $1,045,252, and its asking price is $12,155,000. The surrounding area boasts a strong employment base, including major employers like Wabash National, Subaru of Indiana Automotive, Caterpillar, and Evonik, further enhancing the property's value and potential for future growth. The property's proximity to Indianapolis and Chicago also provides access to a larger regional market. The center's location near a new community center and its diverse tenant mix, including a long-standing popular pizza restaurant, contribute to its strong position within the community. This is a rare opportunity to acquire a well-positioned, value-add retail property in a thriving market.