For Sale
$2,143,000

865 Jefferson StPlymouth, IN 46563

NNN Leased Grocery Store, 7% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 47,677 square foot, single-story Martin's Super Market situated on a 5.14-acre lot in Plymouth, Indiana. The property boasts a strong 100% occupancy rate under a triple-net (NNN) lease with a corporate guarantee from SpartanNash Company (NASDAQ: SPTN). The lease, commencing March 27, 2000, has approximately 8.4 years remaining, with two 5-year renewal options. The building, constructed in 1989 and renovated in 2021, features a new roof with a transferable warranty. The property offers 240 parking spaces and benefits from high visibility and accessibility on E. Jefferson Street (9,110 vehicles per day), with proximity to US Highways 30 and 31 (combined 33,760 vehicles per day). The location is strategically positioned near Plymouth High School, numerous residential areas, and several national retailers. A key differentiator is the in-store Starbucks, the only one within a 25-mile radius, attracting significant foot traffic (averaging over 10,800 weekly visits). The asking price is $2,143,000, representing a $44.94 per square foot price and a 7.00% cap rate, with a net operating income (NOI) of $150,000. The land value is $9.56 per square foot. This presents a compelling investment with a long-term, stable tenant and significant upside potential.

Highlights

  • Corporate-backed NNN lease guaranteed by SpartanNash (NASDAQ: SPTN).
  • Over 10,800 weekly average store visits.
  • NNN lease with limited landlord responsibilities (roof and structure).
  • New roof (2021) with an 8-year transferable warranty.
  • Two 5-year lease renewal options.
  • In-store Starbucks, the only one within a 25-mile radius.

Property Details for 865 Jefferson St

Property type
Retail properties, Grocery and convenience stores
Square Feet
47,677 SF
Year Built/Renovated
1989/2021
Buildings
1
Stories
1
Lot Size (sq. ft)
223,898 SF

Location Insight

City
Plymouth
County
Marshall
State
Indiana
Latitude
41.34439127
Longitude
-86.29779087
865 Jefferson St, Plymouth, Indiana

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865 Jefferson St
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