Off Market
Logansport, IN - T-Mobile & McAlister's
4120 E Market Street | Logansport, IN 46947
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a two-tenant, NNN leased, newly built retail strip located in Logansport, IN. The tenants, T-Mobile (corporate) and McAlister’s Deli (franchisee), recently signed brand new 10-year leases with 2 (5-year) option periods to extend, demonstrating their commitment to the site. Both tenants feature scheduled rental increases, growing NOI and hedging against inflation. In addition, both tenants operate under NNN lease structures, limiting expense leakage for a future investor (see rent roll). Furthermore, McAlister’s Deli is equipped with an end-cap drive-thru lane, which provides ease and convenience for customers.
Location
The two-tenant strip is strategically located along Market Street with clear visibility and access to an average of 13,200 vehicles passing by daily. Market Street serves as the main retail corridor in Logansport and connects to numerous additional commuter routes. The subject is ideally situated within a dense trade area and is near Eastgate Plaza (59K+ SF), Cass Plaza (209K+ SF), and other shopping centers. In addition, the property lies as an outparcel to a 97K+ SF Home Depot, significantly increasing the location’s attraction. The additional national/credit tenants include Walmart Supercenter, Harbor Freight Tools, Rural King, Martin’s Supermarket, ALDI, and others. The strong tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes crossover store exposure. Moreover, the asset is near numerous single-family communities and multi-family complexes including River Bend Apartments (102 units), Pinecrest Manor Apartments (102 units), Cass Plaza Apartments (82 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by 24,900 residents and 15,000 daytime employees, with a healthy average household income of $72,436.