Listed by Marcus & Millichap - Indianapolis
$670,500
Jack's Donuts Strip Center
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 5,364
Units 4
Cap Rate 3.22%
NOI $21,600
Occupancy 77%
Tenancy Multi
Price per SqFt $125
Year Built 1998
Year Renovated 1998
Acreage 1.050
Investment Type Value Add
Retail | $125psf | 5,364 SqFt
Marketing description
Jack's Donuts was founded in 1961 in New Castle, Indiana and is a family owned, donut shop that sells fresh donuts every morning. 65 years in the business, they have grown to 9 different locations across Indiana in New Castle, Southport, Franklin, Plainfield, Camby, Brownsburg, Richmond, Connersville, and Rushville. Jack's offers franchising opportunities, catering and community events. Their coveted purple box, is known and recognized by any longtime Indiana resident.
Investment highlights
- 77% OCCUPIED FOUR-TENANT RETAIL STRIP
- 5,364 square foot retail strip center
- Anchored by Jack's Donuts (9 Locations in Indiana)
- EMBEDDED RENT GROWTH SCHEDULED FOR 2027
- 13.04% rent growth in base term leases by September 2027
- VALUE-ADD OPPORTUNITY
- Upside in leasing 1,200 square foot vacant space
- Additional upside in converting 67% of the GLA to triple net leases
- MINIMAL NEAR-TERM LEASE ROLLOVER RISK
- 55% of the GLA is leased until at least August 2029
- Zero lease rollover until August 2028
- DENSE RETAIL CORRIDOR
- Shadowed by Crawfordsville Square - Home to Kroger, Rent-a-Center, Applebee's, McDonald's, Starbucks, Burger King, Domino's & Arby's
- Adjacent to AMC Theatre and Goodwill
- Walmart, Home Depot, Runnings, Culver's, Buffalo Wild Wings and Aldi are all located down the street
- EXCELLENT VISIBILITY ALONG US.231
- U.S. 231 is a highway that runs for 921 miles from Indiana to Florida - Longest numbered highway in Indiana
- 49 miles outside Indianapolis
- 29 miles from West Lafayette - Home to Purdue University (Enrollment: 58,000+)
Listing Contacts
Listed by Marcus & Millichap - Indianapolis
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$21,600.00
$1,800.00/mo
Valuation Metrics
0
DSCR
3.22%
Cap Rate
3.22%
ROI
Map
Zoning
B-3/PUD PlannedBusiness Planned Unit Development
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View all 230 uses Last updated Feb 27, 2026 For deeper zoning details, reports are available at Zoneomics
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