2045 Northgate Dr, West Lafayette, IN 47906
2,166 SF | 4-Star Retail Building | West Lafayette, IN 47906 | $2,166,667 ($1,000/SF) | 6% Cap Rate
For Sale
Active
Asking Price $2,166,667
- Property Type
-
Retail, Restaurant
- Square Feet
- 2,166 SF
- Price / Square Foot
- $1,000
Listing Contacts
Property Overview
VERITAS REALTY is pleased to present the exclusiveopportunity to acquire a newly constructedStarbucks property located in West Lafayette, IN. Theproperty is conveniently located just north of theheavily trafficked I-65 (45,595 AVD) and minutes fromPurdue University (50,884 students). This is thepreferred exit for all southbound I-65 traffic with adestination of Purdue University. The property issurrounded by other national retailers such asWendy's, Taco Bell, McDonald's, Arby's (coming soon),Speedway, and Phillips 66.
This Starbucks Coffee store opened for business inearly January 2023 and the primary lease termextends through February
2033. The new Owner willbenefit from the negotiated 7.50% rental increasesevery five years as well as the Tenant's requiredreimbursement for all CAM, Real Estate Tax, andInsurance expenses. This allows the new Owner tomaximize cash flow on this investment, while reducingany potential annual NOI fluctuations.
This Starbucks Coffee store opened for business inearly January 2023 and the primary lease termextends through February
2033. The new Owner willbenefit from the negotiated 7.50% rental increasesevery five years as well as the Tenant's requiredreimbursement for all CAM, Real Estate Tax, andInsurance expenses. This allows the new Owner tomaximize cash flow on this investment, while reducingany potential annual NOI fluctuations.
Property Details
- Year Built
- 2023
- Stories
- 1
- Lot Size (sq. ft)
- 38,768 SF
Highlights
- New Construction with Transferrable Warranties
- College Town (Purdue University)
- New 10-year Lease with 7.50% increases every 5 years
- Located just north of the I-65 interchange
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