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Jimmy John’s & Smoothie King Anchored Center 8160-8180 Mississippi St

4,875 SF 100% Leased Retail Building Merrillville, IN 46410 £1,561,367 (£320/SF) 7.26% Net Initial Yield

Investment Highlights

  • 100% Occupied Center Featuring Attractive Lease Structures | Brand New 10-Year Jimmy John’s Lease.
  • High-Density Regional Retail Trade Area off of Interstate 65 | Notable Retailers in Close Proximity.
  • 0.3 Miles from the Interstate 65 Interchange | 92,669 Vehicles per Day
  • Well-Maintained Property - Building Remodeled in 2016.
  • Highly Populated Area with Large Workforce | 43 Miles from the Heart of Chicago.
  • 99,152 People Live Within Five Miles | 36,636 People Work Within Three Miles

Executive Summary

Marcus & Millichap is pleased to exclusively present a 100 percent occupied center, anchored by Jimmy John's with a brand new 10-year lease, and Smoothie King. All tenants operate on net leases with scheduled rental increases. The restaurants boast seasoned operators, all operating multiple restaurants (contact agent for more details). This well-maintained property was remodeled in 2016, and features a drive-thru, adding value and flexibility to current and future tenancy, Subject property is conveniently situated in a high-density, regional trade area, 0.3 miles from a super-regional mall, and off of Interstate 65, with 92,669 vehicles per day. Southlake Mall had over 6.4 million visits in the last 12 months, per Placer.ai, and is home to over 150 stores including JCPenney, Macy's, H&M, and more. This area is highly populated, just 43 miles from the heart of Chicago, with nearly 100,000 people living within five miles, and over 36,000 people working within three miles.

Attachments

Costar Brochure

Data Room Click Here to Access

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,875 SF
Building Class
B
Year Built/Renovated
1978/2016
Price
£1,561,367
Price Per SF
£320
Net Initial Yield
7.26%
NOI
£113,375
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.10
Land Acres
1.13 AC
Zoning
C-3 - C-3
Parking
77 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
65 ft on Mississippi St

Amenities

  • Pylon Sign
  • Signalised Intersection
  • Drive Thru

Nearby Major Retailers

Red Lobster
Bob Evans Restaurants
Outback Steakhouse
Mission BBQ
Chase Bank
D1 Sports Training
Olive Garden
Cooper's Hawk Winery & Restaurant
Schoop's Hamburgers
Starbucks

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
45-12-22-426-009.000-030
Land Assessment
£547,645
Improvements Assessment
£303,607
Total Assessment
£851,252
  • Listing ID: 32905667

  • Date on Market: 21/08/2024

  • Last Updated:

  • Address: 8160-8180 Mississippi St, Merrillville, IN 46410

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