3900 Lexington RdLogansport, IN 46947
- Retail properties
- 7,480 SF
Property Details for 3900 Lexington Rd
- Year built
- 2010
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 4.14 AC
- Property size (Sq ft)
- 7,480 SF
- Property type
- Retail properties
- Property subtype
- Strip malls
- APN
- 09-17-28-200-032.001-010
- APU
- 91728200032001010
Description
This exceptional 18,600 square foot retail property in Logansport, Indiana, presents a compelling value-add opportunity. Located at 3900 Lexington Rd, this single-story, 2011-built center boasts a strong tenant mix including Buffalo Wild Wings, Great Clips, and Maurices, among others. Currently 80% occupied with five tenants, the property offers approximately 3,700 square feet of readily leasable space, promising immediate upside potential. The property features a 7.35% cap rate and a net operating income (NOI) of $183,229. With a remaining lease term of 3.3 years on existing leases, this investment benefits from a high historical occupancy rate, with four of the five current tenants operating since 2011. The 3.19-acre lot offers potential for out-lot development, further enhancing value and traffic. The property enjoys a prime location, shadow-anchored by a Walmart Supercenter and a large shopping center featuring big-box retailers like The Home Depot and Planet Fitness. Strong demographics, with an average household income exceeding $75,100 within a 5-mile radius, support continued success. All tenants are under landlord-favorable net leases with additional option periods. This is a rare opportunity to acquire a well-positioned retail center with significant upside potential in a thriving market.
Location Insight
- City
- Logansport
- County
- Cass
- State
- Indiana
- Latitude
- 40.7631
- Longitude
- -86.3136
- CBSA code
- 30900
- CBSA name
- LOGANSPORT, IN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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