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Sunrise Crossing | New Triple Net Box Center

2536 Michigan Road, Madison, IN, USA Map

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Listing Price $18,500,000

Status Active
Lease Type Absolute Net
Property Type Retail
CAP Rate 6.23%
GLA (Sq. Ft.) 120,868
NOI $1,152,925
Lease Term Remaining 10-15 Years
Increases Yes
Options Yes
State (BOR) IN
Broker of Record Josh Caruana
License # (BOR) RB14034355

Investment Highlights

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  • Subject is an Under Construction Prime 120,868
    Square-Foot Neighborhood Center on an 11-Acre
    Lot | with Ample Parking, Pylon Signage, Easy
    Ingress/Egress, and Strategically Located on a
    Signalized Intersection
  • A Combination of Absolute NNN Leases and a
    Ground Lease with Kohl’s | Zero Landlord
    Responsibility
  • Well Established Retail Corridor | Nearby National
    Retailers Include: Kroger, Walmart, Wyndham,
    McDonald’s, Holiday Inn, Arby’s, Big Lots, Dollar
    General, Big O Tires, Walgreens, and Others
  • Affluent Bedroom Community with an Average
    Household Income of Over $68,000 within Five
    Miles of the Subject Asset, as of 2020
  • Robust Traffic Counts on Michigan Road (10,786
    VPD) and Highway 62 (18,290 VPD) (Source:
    LandVision, CoStar, 2022)
  • Subject is 45 Miles from Louisville International
    Airport, Serving 4.2 Million Passengers Annually
  • Subject is 40 Miles from Downtown Louisville
    with a Population of 619K and 55 Miles from
    Downtown Cincinnati with a Population of 303K
  • Parks and Outdoor Recreational Facilities Nearby
    Include: Clifty Falls State Park, Sunrise Golf
    Course, Hatcher Hill, Rivercrest Marina, Devil’s
    Backbone, and Only 45 Minutes Away From All
    the Amenities Louisville Has to Offer

Investment Overview

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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