12150 N US Highway 421 4,376 SF 100% Leased Retail Building Monticello, IN 47960 $425,000 ($97.12/SF) 8.11% Cap Rate

100% Leased Retail Investment + Value-Add Upside | Hwy 421 Frontage | Optional Development Lot
This is a rare opportunity to acquire a fully leased, income-producing retail strip center strategically positioned along US Hwy 421 in Monticello, IN—one of the area’s highest-traffic corridors (~7,500 VPD) serving both year-round residents and heavy seasonal tourism driven by Lake Shafer, Lake Freeman, and Indiana Beach.
The property consists of approximately 4,400 SF across three tenant suites, all secured with leases in place through January 1, 2028, providing stable and predictable cash flow. The current rent roll generates $38,400 annually with a net income of approximately $34,471. Existing rent roll offers easy growth potential through future rent normalization.
Investment Highlights:
100% occupied multi-tenant asset
Strong in-place cash flow with minimal landlord expenses
Below-market rent in one unit creates clear upside at renewal
Service-based tenancy (food + pet services) with consistent demand
Gross lease structure with tenants contributing to utilities
Significant capital improvements already completed
The current ownership has invested heavily into the property, completing exterior and structural upgrades, including a new roof, siding, windows, paved parking lot, and site improvements. Additionally, commercial-grade FF&E—including kitchen equipment, refrigeration, bar buildout, and dining fixtures—will transfer with the sale, making this an attractive turnkey opportunity.
The building was constructed and improved with long-term functionality in mind, including 2x6 insulated walls to mitigate sound between tenants, as well as a fully fenced 5,400 SF rear area supporting pet-related use.
Additional Value Component:
An adjacent lot is available for an additional $69,000, presenting a compelling opportunity for:
New development
Owner-user expansion
Future resale or pad site creation
Market Positioning:
Monticello offers a unique blend of stable local population and high seasonal tourism traffic, creating strong year-round business performance with peak seasonal revenue spikes. This dynamic supports long-term tenant stability and future rent growth.
This is a turnkey investment with strong fundamentals, recent capital improvements, and embedded growth potential in both rents and land value.