6100-6176 Broadway, Merrillville, IN 46410
184,721 SF | 94% Leased | Retail Building | Merrillville, IN 46410 | For Sale
For Sale
Active
Asking Price Unpriced
- Property Type
-
Retail
- Square Feet
- 184,721 SF
Listing Contacts
Property Overview
Marcus & Millichap is pleased to offer for sale Crossroads Plaza, a 184,721 SF retail center located within the Chicago MSA at 6100 Broadway in Merrillville, Indiana (the "Property”). The offering represents an exceptional opportunity to acquire a grocery anchored shopping center with prime positioning at a signalized intersection at a double digit cap rate.
https://rimarketplace.com/auction/2128/grocery-anchored-center-703k-noi-94-occupied-36k-vpd-chicago-msa
Built in 1972 and renovated in 1994, Crossroads Plaza is comprised of two multi-tenant retail buildings spanning across 20.61 acres. The Property is currently 94% occupied to local, regional, and national tenants including Ruler Foods, Family Dollar, Subway, Papa Johns, and Rent-A-Center. Ruler Foods (lease guaranteed by Kroger) is one of the top-performing grocery stores in Merrillville and faces limited competition with only one other grocer within a 3-mile radius. The Property has a great mix of seasoned tenants bringing in established patrons with new leases executed and bringing new energy to the center. In the last two years, the seller has executed 11 new leases/renewals. The Property benefits from strong co-tenancy with Long John Silver (not included in offering) and Burger King (not included in offering) on adjacent outparcels and its location ensures continued consumer demand and future retailer interest as evidenced by the recent leasing velocity.
Merrillville is centrally located in Lake County approximately 40 miles southeast of downtown Chicago. Crossroads Plaza offers convenient access and a strategic location just off I-65 (107,615 VPD) and four miles from I-80/94 (178,344 VPD) in a main commercial corridor. The Property offers a central location at the signalized intersection of Broadway with traffic counts of ±16,224 vehicles per day and W 61st Street with ±20,251 vehicles per day. The Property is ideally located near numerous demand generators including Merrillville Intermediate School, Merrillville Northshore Health Center, Andrean High School, Merrillville High School, Turkey Creek Golf Course, Wesleyan University, and more. As of 2023, the Property’s demographics have ±122,596 individuals residing within a 5-mile radius, with an average household income of ±$71,738.
https://rimarketplace.com/auction/2128/grocery-anchored-center-703k-noi-94-occupied-36k-vpd-chicago-msa
Built in 1972 and renovated in 1994, Crossroads Plaza is comprised of two multi-tenant retail buildings spanning across 20.61 acres. The Property is currently 94% occupied to local, regional, and national tenants including Ruler Foods, Family Dollar, Subway, Papa Johns, and Rent-A-Center. Ruler Foods (lease guaranteed by Kroger) is one of the top-performing grocery stores in Merrillville and faces limited competition with only one other grocer within a 3-mile radius. The Property has a great mix of seasoned tenants bringing in established patrons with new leases executed and bringing new energy to the center. In the last two years, the seller has executed 11 new leases/renewals. The Property benefits from strong co-tenancy with Long John Silver (not included in offering) and Burger King (not included in offering) on adjacent outparcels and its location ensures continued consumer demand and future retailer interest as evidenced by the recent leasing velocity.
Merrillville is centrally located in Lake County approximately 40 miles southeast of downtown Chicago. Crossroads Plaza offers convenient access and a strategic location just off I-65 (107,615 VPD) and four miles from I-80/94 (178,344 VPD) in a main commercial corridor. The Property offers a central location at the signalized intersection of Broadway with traffic counts of ±16,224 vehicles per day and W 61st Street with ±20,251 vehicles per day. The Property is ideally located near numerous demand generators including Merrillville Intermediate School, Merrillville Northshore Health Center, Andrean High School, Merrillville High School, Turkey Creek Golf Course, Wesleyan University, and more. As of 2023, the Property’s demographics have ±122,596 individuals residing within a 5-mile radius, with an average household income of ±$71,738.
Property Details
- Class
- C
- Year Built/Renovated
- 1972/1994
- Stories
- 1
- Property Subtype
- Freestanding
Highlights
- 184,721 SF Grocery Anchored Shopping Center (Lease Guaranteed by Kroger)
- National Tenants Include Ruler Foods, Family Dollar, Subway, Papa Johns, and Rent-A-Center
- 94% Occupied, 83,736 SF of New Leases Signed Within the Last Year
- Positioning at Signalized Intersection of W 61st Avenue (20,251 VPD) and Broadway (16,224 VPD)
- Positioned in a Dense Residential Area - 122,596 Population with an Average Household Income of $71,738 Within a 5-Mile Radius
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