4120 Market StLogansport, IN 46947

Property Details for 4120 Market St

Year built

2002

Construction

TYPE NOT SPECIFIED

Lot size

10.90 AC

Property size (Sq ft)

97,748 SF

Property type

Outlet malls

APN

09-17-28-240-001.000-010

APU

91728240001000010

Description

Prime Logansport location, strong NOI, 7.09% cap rate. This 4,900 sq ft retail property, built in 2021, features T-Mobile and McAlister's Deli on a 1.21-acre lot with 36 parking spaces. The property boasts a 100% occupancy rate with new 10-year NNN leases including rent bumps and two 5-year options. The McAlister's Deli location includes a drive-thru. The property is strategically located on a major retail corridor, shadow-anchored by The Home Depot, and benefits from a dense trade area with strong demographics. The property offers a compelling investment opportunity with significant upside potential due to the scheduled rent increases and the strength of the tenant lineup. The property's location near other major retailers, including Walmart, Harbor Freight, and Rural King, ensures high visibility and foot traffic. The surrounding area also includes numerous residential communities, providing a substantial customer base. The property's financial performance is further enhanced by the triple-net (NNN) lease structure, minimizing landlord responsibilities and maximizing passive income. The 7.09% cap rate and $154,200 NOI make this a highly attractive investment opportunity. The asking price is $2,175,000.

• CAP approach

  CAP return

  Valuation

  6%

  $20,131,800

  6.5%

  $18,583,200

  7%

  $17,255,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,240,900

  Geo Method

  $13,240,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $35,234,700

  Mixed-Use / Specialty

  $18,922,800

  Hospitality / Lodging

  $14,411,400

  Office

  $19,233,100

  Institutional / Educational

  $19,817,100

  Residential Income

  $23,186,000

  Multifamily

  $25,558,200

  Automotive / Energy

  $16,986,100

  Parking / Income-Based Land

  $5,460,730

  Restaurant / Food Service

  $10,708,000

  Healthcare / Senior Housing

  $18,988,800

Location Insight

City

Logansport

County

Cass

State

Indiana

Latitude

40.7589

Longitude

-86.3106

CBSA code

30900

CBSA name

LOGANSPORT, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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