1605-1623 E Michigan Rd
Shelbyville, IN 46176
Reduced|100% Occ Kroger Shad.|84% Nat Tenants · Retail Property For Sale

The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the 22,470 S.F., Kroger Grocery shadow anchored center located in Shelbyville, Indiana, a suburb of Indianapolis. The Kroger Plaza Shopping Center is being offered for $3,095,000, representing a 8.01% CAP and provides an investor the opportunity to acquire a stable center that includes many well-known recession proof retailers as well as alternative retail users, providing long-term stability. Additionally, the property offers minimal rollover with the 3 largest tenants in place through 2021. In fact, Pet Valu and Buffalo Wild Wings executed 10-Yr. original leases and have 8 years and 5 years of original lease term remaining. The current tenant roster includes most of the tenants on Triple Net (NNN) lease structures and several tenants that reimburse administrative and management fees. The asset’s tenant mix of tenured tenants, along with newer leases, provides comfort knowing that the tenants have the desire to be located at the center and in the market.