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PetSmart and Barnes & Noble 150 Silhavy Rd

33,766 SF 100% Leased 4-Star Retail Building Valparaiso, IN 46383 $11,861,599 CAD ($351 CAD/SF) 6.75% Cap Rate

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Investment Highlights

Barnes & Noble / PetSmart - Strong Corporate Credit – National Retailers – Long-Term Triple-Net (NNN) Leases
Institutional Quality Asset - No Deferred Maintenance - Recent Landlord Improvements To Roof, HVAC, Parking Lot – Brand New Loading Dock (PetSmart)
Adjacent To Both Valparaiso University & Ivy Tech Community College

Irreplaceable “A+” Location – Situated Within Two Top Ranked Regional Power Centers – Valparaiso Marketplace & Valparaiso Walk – Over 7 Million Combin
Major Retail Corridor Fed by the Interchange of State Hwy 49, Hwy 30 & Laporte Ave - Combined Traffic Counts of 78,000 VPD
Valparaiso Is the County Seat For Porter County – Growing population Of Over 170,000

Executive Summary

Lee & Associates are pleased to present the opportunity for a qualified investor to acquire Fee Simple interest (land & building) in the Two-Tenant Valparaiso Marketplace “Subject Property”, located at 150 Silhavy Rd, Valparaiso, Indiana. Built in 2002 and renovated in 2023, the Subject Property consists of a 33,766 square foot multi-tenant buildings that resides on a 3.63-acre parcel. The subject property is leased to PetSmart on a new 10-year triple-net lease, and to Barnes & Noble, who just renewed their lease early for 5+ years on a triple-net lease, with rent increases. Barnes & Noble has been successfully operating at this location since 2002.

OM_ValparaisoMarketplace-ValparaisoIN

Property Facts

Sale Type

Investment NNN

Sale Condition

1031 Exchange

Property Type

Retail

Property Subtype

Storefront

Building Size

33,766 SF

Building Class

LoopNet Rating

4 Star

Year Built

2002

Price

$11,861,599 CAD

Price Per SF

$351 CAD

Cap Rate

6.75%

NOI

$800,658 CAD

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Loading Docks

1 Exterior

Building FAR

0.21

Lot Size

3.63 AC

Zoning

C - Retail shopping center zoning Part of a large planned unit development

Parking

165 Spaces (4.89 Spaces per 1,000 SF Leased)

Frontage

482 ft on Silhavy Road

Amenities

Monument Signage

MAJOR TENANTS

Retailer
21,010 SF
-
Net
Apr 2029

Barnes & Noble, Inc. is the largest retail bookseller in the United States. The Company has hundreds of bookstores across the United States, as well as its online bookstore at BN.com, the NOOK® Digital business which offers both eBooks and an audio book subscriptions service, the SparkNotes educational service, stationery and gift retailer Paper Source, and the publisher Union Square & Co. Barnes & Noble is owned by Elliott Advisors (UK) Limited and run by CEO and bookseller James Daunt, who is also Managing Director of Waterstones bookstores in the U.K. and founder and owner of Daunt Books. Barnes & Noble was founded in 1971 by bookseller Leonard Riggio when he acquired the Barnes & Noble trade name and bookstore in New York City.