Marcus & Millichap is pleased to present the opportunity to acquire a 44,100-square-foot, multi-tenant retail center, shadow-anchored by a Walmart Supercenter, located in Martinsville, Indiana. Grand Valley Shopping Center is currently 92 percent occupied, providing upside potential to a future investor by leasing the vacant space. All current leases are triple-net. Tenants consist of a complementary mix of national and local retail businesses including PetSmart, Maurices, Dollar Tree, ATI Physical Therapy, Los 4 Amigos, Martinsville Tobacco & Vapor, LV Nails, T-Mobile, Edward Jones, Tavel Optical, Cricket Wireless, Mariner Finance, and Anytime Fitness. Constructed in 2008, the building is situated on a large eight-acre lot with ample paved parking. A 2.20-acre land parcel and a 5.95-acre land parcel adjacent to the subject property are available for purchase.
Grand Valley Shopping Center is located on Grand Valley Boulevard near Interstate 69/State Road 37, one of the major thoroughfares of Indiana which has recently expanded to a four-lane divided highway. Traffic counts along Interstate 69 exceed 24,296 vehicles per day. The center benefits from multiple ingress and egress points. In addition to Walmart, other neighboring national retailers include Sherwin-Williams, Enterprise Rent-A-Car, Chili’s Grill & Bar, Arby’s, Verizon Wireless, Kroger, Great Clips, OneMain Financial, Shoe Sensation, AT&T Store, Rent-A-Center, and more. Several schools and hotels are also in close proximity to the subject property, providing additional traffic to the area.
- 44,100-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart
- 92% Occupied | All Current Leases are Triple-Net
- Anchored by Dollar Tree | Publicly Traded Company (NASDAQ: DLTR) | Long-Term Tenant in this Location for 15+ Years
- 73% of the Gross Leasable Area has National Tenants | Complementary Tenant Mix
- Building is Situated on a Large 8.0-Acre Parcel with Multiple Ingress and Egress Points | Property Includes a Double-Sided Monument Sign
- Two Adjacent Pad Sites Available for Purchase | 2.20-Acre Parcel Priced at $500,000 | 5.95-Acre Parcel Priced at $600,000
- Located on Grand Valley Boulevard Just East of Interstate 69/State Road 37 | Traffic Counts Exceed 24,296 Vehicles Per Day
- Close Proximity to Several School Campuses and Hotels, Providing Additional Traffic to the Area
- Three-Mile Average Household Income is $65,131 | Five-Mile Average Household Income is $76,577 | 10-Mile Average Household Income is $83,504
- Martinsville is the Economic Hub Along Interstate 69 | 30 Miles South of Indianapolis
- Shopping Center is Priced at $140 Per Square Foot | Below Replacement Cost