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Martin's Super Market 865 E Jefferson St
47,677 SF 100% Leased Retail Building Plymouth, IN 46563 $3,047,346 CAD ($64 CAD/SF) 7% Cap Rate
Investment Highlights
- Corporate Backed Lease Guaranteed by SpartanNash (NASDAQ: SPTN)
- NNN Lease with Limited Landlord Responsibilities (Roof & Structure)
- Two 5-Year Options with Automatic Renewal
- Over 10,800 Visits on Average per Week, per Placer.ai
- New Roof Installed in 2021 with 8-Year Transferable Warranty
- The Only Starbucks within 25 Mile Radius Located In-Store
Executive Summary
There’s limited competition within the immediate trade area and the subject property offers the only Starbucks within a 25-mile radius located in-store. The site sits on a 5.14-acre lot with excellent visibility and accessibility with frontage of 327’ on E. Jefferson Street (9,110 VPD) and several points of ingress/egress. The site provides close access to U.S. Hwy 30 and U.S. Hwy 31 with 33,760 VPD combined. There are numerous hotels with over 430+ rooms combined in a 3-mile radius and the site is less than 3 miles from Pilgrim Place, a Lowe’s Home Improvement anchored shopping center. Martin’s Super Market is directly adjacent to Plymouth High School (±1,157 average annual student enrollment) and is located nearby many dense residential neighborhoods. There are several national retailers within a 1.5-mile radius such as CVS, Walgreens, AutoZone Auto Parts, Planet Fitness, and more.
Martin’s Super Markets includes a Side Door Deli Café and has the only Starbucks within a 25-mile radius located in-store, driving additional traffic. The site has over 10,800 visits on average per week, per Placer.ai.
Watch Property Video: https://vimeo.com/918436387
Property Facts
Amenities
- Freeway Visibility
- Signage
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Retailer
- 47,677 SF
- -
- Net
- Mar 2033
In the fall of 1947, Jane and Martin Tarnow opened the first Martin’s Super Market as an 800-square-foot store in the 1500 block of Portage Avenue in South Bend, Indiana. From that small beginning, Martin’s Super Markets has grown to 21 stores located in South Bend, Mishawaka, Elkhart, Granger, Nappanee, Plymouth, Logansport, Goshen and Warsaw Indiana, as well as stores in Niles, St. Joseph and Stevensville, Michigan. Martin’s has continued to offer its customers added conveniences such as full-service Pharmacies and specialty departments, including Side Door Deli Cafés, which offer a full variety of hot and cold ready-to-eat menu items. Customers can even pick up their favorite Starbucks® beverage at over half of Martin’s stores.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Retailer | 47,677 SF | - | Net | Mar 2033 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 50-32-93-202-237.000-019 | Improvements Assessment | $628,251 CAD |
| Land Assessment | $794,056 CAD | Total Assessment | $1,422,307 CAD |
PROPERTY TAXES
Presented by
Martin's Super Market | 865 E Jefferson St
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