Maple Lane Mall Including Additional Land

Shopping Center for Sale
Sale Pending
Catylist Listing ID: 29919161
Property Subtypes: Community Center, Strip Center
Status: Pending
Building Size (RSF): 230,000 SF
Gross Building Area: See Agent
Sale Price: $8,250,000
Unit Price: $35.87 PSF
Property Use Type: Investment
Building Name: Maple Lane Mall
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 8/23/2017

Overview / Comments

230,000 square foot retail property located approximately 60 miles from Chicago in LaPorte, Indiana.

Maple Lane Mall features tenant's such as local grocer, Al' s Supermarket, as well as national tenant's such as K-Mart, Advanced Auto, Dunhams, and Family Dollar. The center offers the opportunity to increase NOI by leasing up the vacancy as well as developing and leasing the 1 acre outlot.

The Shopping Center is comprised of 3 separate buildings on 20 acres.
Also included in the offering is an additional 10 acre parcel which is zoned R-3A which allows for multifamily and single family detached homes.

Attachments & Media

Additional Details

Nearest MSA: Michigan City-La Porte
County: La Porte
Tax ID/APN: 461002154014000043; 154-012; 154-006; 154-019; 154-005; 154-015; 461002301007000043
Retail Clientele: General, Family
Property Visibility: Excellent
Largest Nearby Street: State Rd. 2 and Route 39
Area Description: Located just over one hour from downtown Chicago, LaPorte is the county seat of LaPorte County and is one of the two principal cities of the Michigan City, La Porte, Indiana Metropolitan Statistical Area, which is included in the Chicago -Naperville-Michigan City, Illinois-Indiana-Wisconsin Combined Statistical Area.
Total Number of Buildings: 4
Number of Stories: 1
Typical SF / Floor: 230,000 SF
Property Condition: Fair
Year Built: 1975
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Ceiling Units
Air Conditioning: Engineered System
Zoning Description: R-3A
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,472 23,883 35,314
Median Age: 34.87 38.33 40.31
Households: 2,132 9,651 14,024
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