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535 N Line St, Columbia City, IN, 46725

Dark Walgreens

$2,800,000

Key Information

Cap Rate
10.36%
$ per SF
$189
Tot. SF
14,820
Lot Size
1.47 Acres
Year Built
2004
Term Remaining
±4.04 YRS
Type
Retail
Leasable Area
14,820

Highlights

• Seller engaged with the tenant in lease buyout discussions. Please contact broker for details.
• ±4 years of lease commitment remaining – over $1,100,000 in guaranteed rent over that period. This deal offers a very favorable yield while the purchaser establishes a re-tenanting or redevelopment plan.
• ±14,820 SF building on a large ±1.47-acre lot. The property benefits from a dedicated drive-thru lane, pylon signage, and ±33 surface-level parking spaces.
• Highly visible location with strong retail synergy, located near multiple national retailers including ALDI, Starbucks, CVS, and a Walmart Supercenter directly across the street.
• About 30 minutes from Fort Wayne, the property is located just off US Hwy 30, which sees 27,300 VPD at the intersection.
• General Business Zoning (GB), which allows for a multitude of different uses with very few restrictions. Reach out to broker for more details.
• High-quality construction – The property features high-quality brick construction and was completed in 2004 to Walgreens-specific development standards.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # RB17001213, RC52200195 (IN)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203