4120 Market StLogansport, IN 46947

  • Retail properties
  • 97,748 SF
For Sale
$2,175,000 View listing

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
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $27,025,276
    6.5%
    $24,946,408
    7%
    $23,164,522
  • Comparable approach

    Method
    Valuation
    Relative Method
    $32,083,826
    Geo Method
    $32,083,826
  • Alternative Use

    Use
    Valuation
    Residential
    $21,043,230
    Hospitality
    $19,275,484
    Educational
    $16,036,977
    Medical
    $16,588,513
    Retail
    $24,946,408
4120 Market St, Logansport, Indiana

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$89,562
$1,578,600
$1,406,800
$2,985,400
-
$1,578,600
$1,406,800
$2,985,400

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