North Manchester Retail Investment

Retail-Commercial for Sale
Catylist Listing ID: 30081332
Property Subtypes: Street Retail
Building Size (RSF): 8,400 SF
Gross Land Area: 0.83 Acres
Sale Price: $698,750
Unit Price: $83.18 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: North Manchester Retail Investment
Sale Terms: Cash to Seller
Cap Rate: 7.4%
Average Occupancy Rate: 100
Last Updated: 10/19/2017

Overview / Comments

This is a well-maintained, fully-leased multi-tenant neighborhood retail center with three tenants. Anchor tenant is Anytime Fitness; other two tenants are Madre Mexican Restaurant and State Farm Insurance.

This retail center is located on Main Street just west of downtown. The property is located between North Maple Street and North Buffalo Street, approximately 1.4 miles from Manchester University. It is well positioned, with mixed uses of retail, office and residential surrounding the property.

Current Tenants

Tenant Business Name Anytime Fitness
Is Renting? Yes
SF of Space Occupied 4,300 SF
Tenant Business Name Madre Restaurant
Is Renting? Yes
SF of Space Occupied 3,000 SF
Tenant Business Name State Farm Insurance
Is Renting? Yes
SF of Space Occupied 1,100 SF

Additional Details

Nearest MSA: Wabash
County: Wabash
Taxing Authority: Wabash County, Indiana
Tax ID/APN: 85-07-05-102-038.000-002
Zoning: BL - BUSINESS LOCAL DISTRICT
Retail Clientele: General, Family, Recreation
Property Located Between: North Maple Street and North Buffalo Street
Property Visibility: Excellent
Largest Nearby Street: Main Street (State Road 114)
Feet of Frontage: 302
Traffic/Vehicle Count: 7,295
Highway Access: State Road 114
Site Description: This is a well-maintained, fully-leased multi-tenant neighborhood retail center with three tenants. Anchor tenant is Anytime Fitness; other two tenants are Madre Mexican Restaurant and State Farm Insurance. Neighborhood center with abundant parking. Building is 100% occupied.
Area Description: This retail center is located on Main Street just west of downtown. The property is located between North Maple Street and North Buffalo Street, approximately 1.4 miles from Manchester University. It is well positioned, with mixed uses of retail, office and residential surrounding the property.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 8,400 SF
Property Condition: Excellent
Year Built: 2003
Construction/Siding: Steel Frame
Exterior Description: Dryvit
Total Parking Spaces: 56
Parking Type: Surface
Parking Description: Abundant parking with 56 parking spaces for three tenants
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: DSL
Zoning Description: BL - Business Local District
Lot Frontage: 302
Lot Depth: 156
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: LLC

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,112 7,104 10,371
Median Age: 34.93 35.72 36.96
Households: 2,213 2,565 3,781

Contact

Photograph of Listing Agent

John J. Caffray

CBRE | Sturges ICREX Member
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