Listed by Marcus & Millichap - Indianapolis
$4,300,000
First Watch & Xfinity Two-Tenant Center
Details
Property Type Retail
Sub Type Restaurant, Storefront
Square Footage 8,100
Net Rentable (SqFt) 8,100
Units 2
Cap Rate 6.37%
NOI $273,900
Occupancy 100%
Tenancy Multi
Lease Type NNN
Lease Term 10
Lease Expiration 10/26/2029
Remaining Term 3.4
Rent Bumps Yes
Lease Options 2, 5-Year
Price per SqFt $531
Class C
Year Built 2001
Year Renovated 2025
Acreage 1.360
Zoning Commercial
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 10/27/2019
Ground Lease No
Sale Condition N/A
Retail | 6.37% CAP | 8,100 SqFt
Marketing description
- Two-tenant Center that is an Outparcel to Both Jefferson Pointe with 6.1 Million Visits Annually, the #1 Regional Mall in Indiana and Apple Glen Crossing, that Ranks in the Top 11% Community Shopping Centers in the US (Placer.ai)
- National Credit Tenants with Corporate Guarantees - First Watch (FWRG) Operates 648+ Locations Across 32 States | Xfinity (CMCSA) Subsidiary of Comcast with an S&P Rating of A- Operates 695 Locations Across 41 States
- High Traffic Corridor - Excellent Visibility from Signalized Intersection of Illinois Road & Apple Glen Blvd with 43,690 VPD| Less than 1 Mile from I-69 with 72,905 VPD
- First Watch is the Fastest-Growing Full-Service Restaurant Brand in the US, Opening 64 New Locations in 2025 | First Watch Opened for Business In 2025 | ~9 Years Remaining on the Only First Watch Location in the Fort Wayne Market
- Located in Dense Retail Corridor - Near Target, Von Maur, Trader Joe's Grocery, Walmart, Marshall's, Lowe's, Kohl's, Best Buy, Aldi, Hobby Lobby, Menards, Sierra, Meijer & Others
- 100% Occupied Center with Corporately Guaranteed Leases | NNN Leases Each with Two, Five Year Options with Management Fees
- Excellent Demographics - Southwest Fort Wayne Ranks #5 of the Most Affluent Zip Codes in Indiana | Five-Mile Daytime Population Exceeds 179,000
- Fort Wayne Is Indiana's Second-largest City With 265k Residents In The City And 454k In The Metro Area, With Steady Population Growth
Investment highlights
- Two-tenant Center that is an Outparcel to Both Jefferson Pointe with 6.1 Million Visits Annually, the #1 Regional Mall in Indiana and Apple Glen Crossing, that Ranks in the Top 11% Community Shopping Centers in the US (Placer.ai)
- National Credit Tenants with Corporate Guarantees - First Watch (FWRG) Operates 648+ Locations Across 32 States | Xfinity (CMCSA) Subsidiary of Comcast with an S&P Rating of A- Operates 695 Locations Across 41 States
- High Traffic Corridor - Excellent Visibility from Signalized Intersection of Illinois Road & Apple Glen Blvd with 43,690 VPD| Less than 1 Mile from I-69 with 72,905 VPD
- First Watch is the Fastest-Growing Full-Service Restaurant Brand in the US, Opening 64 New Locations in 2025 | First Watch Opened for Business In 2025 | ~9 Years Remaining on the Only First Watch Location in the Fort Wayne Market
- Located in Dense Retail Corridor - Near Target, Von Maur, Trader Joe's Grocery, Walmart, Marshall's, Lowe's, Kohl's, Best Buy, Aldi, Hobby Lobby, Menards, Sierra, Meijer & Others
- 100% Occupied Center with Corporately Guaranteed Leases | NNN Leases Each with Two, Five Year Options with Management Fees
- Excellent Demographics - Southwest Fort Wayne Ranks #5 of the Most Affluent Zip Codes in Indiana | Five-Mile Daytime Population Exceeds 179,000
- Fort Wayne Is Indiana's Second-largest City With 265k Residents In The City And 454k In The Metro Area, With Steady Population Growth
Listing Contacts
Listed by Marcus & Millichap - Indianapolis
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$273,900.00
$22,825.00/mo
Valuation Metrics
0
DSCR
6.37%
Cap Rate
6.37%
ROI
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