Sunrise Crossing
120,868 SF | 98% Leased | Retail Building | Madison, IN 47250 | $17,080,000 ($141/SF) | 6.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $17,080,000
- Property Type
-
Retail
- Square Feet
- 120,868 SF
- Price / Square Foot
- $141
Listing Contacts
Jesse Limon
Verified Profile
- Property Info
Property Overview
Subject is an Under Construction Prime 120,868
Square-Foot Neighborhood Center on an 11-Acre
Lot | with Ample Parking, Pylon Signage, Easy
Ingress/Egress, and Strategically Located on a
Signalized Intersection
A Combination of Absolute NNN Leases and
a Ground Lease with Kohl’s | Zero Landlord
Responsibility
Square-Foot Neighborhood Center on an 11-Acre
Lot | with Ample Parking, Pylon Signage, Easy
Ingress/Egress, and Strategically Located on a
Signalized Intersection
A Combination of Absolute NNN Leases and
a Ground Lease with Kohl’s | Zero Landlord
Responsibility
Property Details
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 174,240 SF
Highlights
- Well Established Retail Corridor | Nearby National Retailers Include: Kroger, Walmart, Wyndham, McDonald’s, Holiday Inn, Arby’s, Big Lots, and More
- Affluent Bedroom Community with an Average Household Income of Over $68,000 within Five Miles of the Subject Asset, as of 2020
- Robust Traffic Counts on Michigan Road (10,786 VPD) and Highway 62 (18,290 VPD) (Source: LandVision, CoStar, 2022)
- Subject is 40 Miles from Downtown Louisville with a Population of 619K and 55 Miles from Downtown Cincinnati with a Population of 303K
- Parks and Outdoor Recreational Facilities Nearby Include: Clifty Falls State Park, Sunrise Golf Course, Hatcher Hill, Rivercrest Marina, and Others
- Recent Financing Quote | 10-Yr 60% LTV 6.17% Interest Only | 7.62% Pre-Tax Return Year 1
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