2200 Elmwood Ave, Lafayette, IN 47904
132,398 SF | 80% Leased | Retail Building | Lafayette, IN 47904 | $11,575,000 ($87/SF) | 8.50% Cap Rate
For Sale
Active
Asking Price $11,575,000
- Property Type
-
Retail
- Square Feet
- 132,398 SF
- Price / Square Foot
- $87
Listing Contacts
Daniel Cooper
Property Overview
• Attractive 8.50% CAP Rate and Low $87/S.F. Sales Price with Significant Upside Available (79% Occupancy) Through Lease-Up and
Rent Growth Providing Low Risk & High Upside!!
• Huge Draw: 2.5 Miles to Purdue University with 40,000+ Students and 15,000+ Employees (Tenant: NeoVision’s Privilege to be the
Official Eyecare Provider for Purdue Athletics)
• Community Staple: Service-Oriented Retail Shopping Center Featuring a Diverse Mix of Recession Resistant Users, Shadow Anchored
by High-Traffic Grocery, New (6-Acre-97,000 S.F.) Community Center and Market Square Lanes
• Growing Community with Average Household Incomes of Over $83,000 and High Population Density of Approx. 140,000 Within 5-
Miles, Not Including Students Residing at Purdue University
• Multiple Signalized Entrances and Corner Location Between 3 Main Roadways, Highly Visible Pylon and Monument Signage and
Center Visibility with Multiple Points of Ingress/Egress (7!)
• Strong Leases Backed by Solid Corporate and Personal Guarantees: Well-Known Retailers (Dollar General, First Merchants Bank and
Rent-a-Center), Stable Government Tenants (BMV and State of Indiana) and Medical (NeoVision, FFR Health, Cornerstone
Caregiving, Versiti & Calm Waters Float Therapy)
• Home to the Area’s Most Popular Pizza Restaurant - Arni’s: Flagship Location Who’s Success Has Kept Them at Market Square Since
1965!
• In 2023, The Wall Street Journal and Realtor.com Have Ranked Greater Lafayette the No. 1 Emerging Housing Market in America
Based on Comparatively Affordable Housing, a Strong Growing Local Economy, and a Skilled Technology-Based Workforce
• Directly Adjacent to Northend Community Center: $14 Million/97k S.F. Development Built in 2018 Drawing the Community to the
Corridor and the Wabash Center/Paramount Charter School with Over 400 Employees
• Lafayette Growth: Evonik, One of the World's Leading Providers of Drug Delivery Technologies, Broke Ground on its $220 Million
Global-Scale Production Facility (2025 Expected Opening), Along with the City Currently Underway for Streetscape Projects, Several
Neighborhood Plans/Revitalization and Redevelopment Projects (https://www.lafayette.in.gov/217/Projects)
• Strong Employment Base: Purdue University (15,100 Employees) Wabash National (6,500 Employees), Subaru of Indiana Automotive
Inc. (SIA), (6,500+ Employees), Caterpillar Trucking (1,900+ Employees), Landis+Gyr (7,800 Worldwide Employees), Evonik Industries
(830+ Employees), Primient (1,900 Employees), IU Health Arnett Hospital + 23 Outpatient Clinics (1,500 Physicians) and Wabash
Center (400 Employees)
• Ideal Geographic Location: Positioned 60 Miles to the Northwest of Indianapolis (Densely Populated Capital Ranked 12th Largest by
Population in the Country & Largest in the State of Indiana) and 115 Miles Southeast of Chicago, Illinois
• Convenient Access to the Indianapolis Intl. Airport (60 Miles)
Rent Growth Providing Low Risk & High Upside!!
• Huge Draw: 2.5 Miles to Purdue University with 40,000+ Students and 15,000+ Employees (Tenant: NeoVision’s Privilege to be the
Official Eyecare Provider for Purdue Athletics)
• Community Staple: Service-Oriented Retail Shopping Center Featuring a Diverse Mix of Recession Resistant Users, Shadow Anchored
by High-Traffic Grocery, New (6-Acre-97,000 S.F.) Community Center and Market Square Lanes
• Growing Community with Average Household Incomes of Over $83,000 and High Population Density of Approx. 140,000 Within 5-
Miles, Not Including Students Residing at Purdue University
• Multiple Signalized Entrances and Corner Location Between 3 Main Roadways, Highly Visible Pylon and Monument Signage and
Center Visibility with Multiple Points of Ingress/Egress (7!)
• Strong Leases Backed by Solid Corporate and Personal Guarantees: Well-Known Retailers (Dollar General, First Merchants Bank and
Rent-a-Center), Stable Government Tenants (BMV and State of Indiana) and Medical (NeoVision, FFR Health, Cornerstone
Caregiving, Versiti & Calm Waters Float Therapy)
• Home to the Area’s Most Popular Pizza Restaurant - Arni’s: Flagship Location Who’s Success Has Kept Them at Market Square Since
1965!
• In 2023, The Wall Street Journal and Realtor.com Have Ranked Greater Lafayette the No. 1 Emerging Housing Market in America
Based on Comparatively Affordable Housing, a Strong Growing Local Economy, and a Skilled Technology-Based Workforce
• Directly Adjacent to Northend Community Center: $14 Million/97k S.F. Development Built in 2018 Drawing the Community to the
Corridor and the Wabash Center/Paramount Charter School with Over 400 Employees
• Lafayette Growth: Evonik, One of the World's Leading Providers of Drug Delivery Technologies, Broke Ground on its $220 Million
Global-Scale Production Facility (2025 Expected Opening), Along with the City Currently Underway for Streetscape Projects, Several
Neighborhood Plans/Revitalization and Redevelopment Projects (https://www.lafayette.in.gov/217/Projects)
• Strong Employment Base: Purdue University (15,100 Employees) Wabash National (6,500 Employees), Subaru of Indiana Automotive
Inc. (SIA), (6,500+ Employees), Caterpillar Trucking (1,900+ Employees), Landis+Gyr (7,800 Worldwide Employees), Evonik Industries
(830+ Employees), Primient (1,900 Employees), IU Health Arnett Hospital + 23 Outpatient Clinics (1,500 Physicians) and Wabash
Center (400 Employees)
• Ideal Geographic Location: Positioned 60 Miles to the Northwest of Indianapolis (Densely Populated Capital Ranked 12th Largest by
Population in the Country & Largest in the State of Indiana) and 115 Miles Southeast of Chicago, Illinois
• Convenient Access to the Indianapolis Intl. Airport (60 Miles)
Property Details
- Class
- B
- Year Built/Renovated
- 1977/2023
- Stories
- 1
- Property Subtype
- Storefront, Freestanding, Medical
- Lot Size (sq. ft)
- 897,336 SF
Highlights
- Attractive 8.50% CAP Rate and Low $82/S.F. Sales Price with Significant Upside Available (77% Occupancy) Through Lease-Up and Rent Growth
- Huge Draw: 2.5 Miles to Purdue University: 40k+ Students and 15k+ Employees (Tenant: NeoVision’s Official Eyecare Provider for Purdue Athletics)
- Growing Community with Average Household Incomes of $83k+ and High Population Density of Approx. 140k Within 5-Miles (Not Including Purdue Students)
- In 2023, The Wall Street Journal and Realtor.com Have Ranked Greater Lafayette the No. 1 Emerging Housing Market in America Based
- Directly Adjacent to Northend Community Center: $14 Million/97k S.F. Development Built in 2018, Huge Traffic Driver
- Multiple Signalized Entrances & Corner Location Between 3 Main Roadways, Highly Visible Pylon & Monument Signage & Center Visibility w/ 7 Entrances
All available spaces
- Space
- 1st Fl-Ste A-7
- Size
- 4,000 SF
- Condition
- Full Build-Out
- Space
- 1st Fl-Ste C-1
- Size
- 7,000 SF
- Condition
- Full Build-Out
- Space
- 1st Fl-Ste C-2
- Size
- 15,356 SF
- Condition
- Full Build-Out
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