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1980 N National Rd 5,300 SF 100% Leased Retail Building Columbus, IN 47201 $3,288,667 ($620.50/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Across from Target-Anchored Center | Columbus Center - Top 21% Nationwide for Community Centers with 3.5M Annual Visitors (Place.AI).
- High Visibility/High Exposure Location: 47,261 Vehicles Per Day in Front of Center | Surrounded by 2.7 Million SF of Retail within 2 Miles.
- Anchored by Sleep Number Corporate (NASDAQ: SNBR) (2023 Revenue: $1.9 Billion).
- New, Class A Construction | 100% Occupied | Target Shadow-Anchored Strip Center in Indianapolis MSA.
- Stanton Optical Maintains 3% Annual Rental Increases | Sleep Number and Cricket Wireless Each Have 10% Rental Increases Every 5 Years.
- Corporate Stanton Optical (273 Location in 29 States) | Cricket Wireless - Relocation Store for Largest Authorized Retailer in US with 450+ Locations.
EXECUTIVE SUMMARY
The Yoder-Harman Group is pleased to present the newly constructed, Class A, Target shadow-anchored retail strip center at 1980 N National Road in the affluent realm of Columbus, IN, to the market. This Sleep Number three-tenant center offers an excellent inflation hedge as Stanton Optical maintains 3% annual rental increases, and Sleep Number and Cricket Wireless each have 10% rental increases every 5 years. Sleep Number Corporation's 2023 revenue exceeded $1.9 billion, Corporate Stanton Optical has 273 locations in 29 states, and this Cricket Wireless relocation store is the largest authorized retailer in the US with 450+ locations.
1980 N National Road is strategically located at a hard corner across from the Target-anchored Columbus Center, ranked in the top 21% nationwide for community centers with 3.5 million annual visitors (per Placer.AI).
There is high visibility and exposure with 47,261 vehicles per day in front of the center and surrounded by 2.7 million square feet of retail within 2 miles. The retail corridor includes several top-performing tenants, including the top 2% McDonald's in the US, the top 4% Kroger in the US, the #2 Rural King in Indiana, the top 8% Wendy's in the US, the top 6% Taco Bell in the US, the top 3% Dairy Queen in the US, and the top 4% Burger King in the US.
As a City, Columbus Ranks Nationally in Many Categories: #1 US City for Manufacturers - Global Trade Magazine, #1 Metro in US for Affordability, Education & Growth Among Young Professionals - Pew Charitable Trust, #5 Top US Small Metros for Attraction & Expansion Projects - Site Selection Magazine, #1 US Small Metro for Manufacturers - Business Facilities Magazine, and #6 in US for Architectural Innovation and Design - American Institute of Architects.
Columbus is the International HQ for Cummins, Inc. with $34.1 Billion in 2023 Revenue | #129 on Fortune 500. Columbus is an Affluent Bedroom Community of Indianapolis with $89,000 AHHI within 5 Miles of the Subject Property | Columbus MSA Includes 84,000 People with a Trade Area of 180,000.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
1980 N National Road is strategically located at a hard corner across from the Target-anchored Columbus Center, ranked in the top 21% nationwide for community centers with 3.5 million annual visitors (per Placer.AI).
There is high visibility and exposure with 47,261 vehicles per day in front of the center and surrounded by 2.7 million square feet of retail within 2 miles. The retail corridor includes several top-performing tenants, including the top 2% McDonald's in the US, the top 4% Kroger in the US, the #2 Rural King in Indiana, the top 8% Wendy's in the US, the top 6% Taco Bell in the US, the top 3% Dairy Queen in the US, and the top 4% Burger King in the US.
As a City, Columbus Ranks Nationally in Many Categories: #1 US City for Manufacturers - Global Trade Magazine, #1 Metro in US for Affordability, Education & Growth Among Young Professionals - Pew Charitable Trust, #5 Top US Small Metros for Attraction & Expansion Projects - Site Selection Magazine, #1 US Small Metro for Manufacturers - Business Facilities Magazine, and #6 in US for Architectural Innovation and Design - American Institute of Architects.
Columbus is the International HQ for Cummins, Inc. with $34.1 Billion in 2023 Revenue | #129 on Fortune 500. Columbus is an Affluent Bedroom Community of Indianapolis with $89,000 AHHI within 5 Miles of the Subject Property | Columbus MSA Includes 84,000 People with a Trade Area of 180,000.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
5,300 SF
Building Class
B
Year Built
2024
Price
$3,288,667
Price Per SF
$620.50
Cap Rate
7.50%
NOI
$246,637
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
0.46 AC
Zoning
C - Commercial
Parking
18 Spaces (3.4 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Signage
- Air Conditioning
Walk Score®
Very Walkable (76)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
7,999
41,471
53,611
77,249
2029 Population
8,195
42,733
55,349
82,861
2024-2029 Projected Population Growth
2.5%
3.0%
3.2%
7.3%
Median Age
38.8
38.1
37.6
37.7
College Degree + Higher
28%
31%
34%
20%
Daytime Employees
11,126
28,505
32,767
41,541
Total Businesses
925
2,635
3,068
3,842
Average Household Income
$76,272
$87,273
$93,039
$103,199
Median Household Income
$60,037
$66,323
$71,274
$77,985
Total Consumer Spending
$95.5M
$513.4M
$681M
$1B
2024 Households
3,537
17,292
21,788
30,841
Average Home Value
$191,807
$215,600
$221,614
$294,147
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 03-96-17-340-000.800-005 | Improvements Assessment | $240,000 |
| Land Assessment | $264,900 | Total Assessment | $504,900 |
PROPERTY TAXES
Parcel Number
03-96-17-340-000.800-005
Land Assessment
$264,900
Improvements Assessment
$240,000
Total Assessment
$504,900
SALE ADVISORS
SALE ADVISORS
Damien Yoder, Managing Director - Investments
Damien Yoder is a real estate investment advisor specializing in the sale of single-tenant and multi-tenant net leased retail and medical office properties throughout the United States. Damien Joined Marcus & Millichap in the summer of 2011 and brings a unique financial perspective to the real estate investment brokerage business.
Damien’s previous experience in accounting and finance allow him to provide his clients with a high level of financial analysis and strategic real estate advice, such as sale-leasebacks, portfolio valuations, pre-M&A and post-M&A consulting and tax deferred exchanges. He has over 15 years of experience in real estate property and asset management. Damien has also invested in and developed retail and medical office properties in 5 states.
Damien is a Director of the firm’s National Retail Division and a Director of the National Net Leased Properties Group. He is an active member of International Council of Shopping Centers (ICSC), Urban Land Institute (ULI) and the American Real Estate and Urban Economics Association (AREUEA). He has also served as an advisory board member for multiple CRE and technology companies. Damien graduated from Indiana University’s Kelley School of Business with a double major in Finance and Real estate and a minor in Psychology.
Highlights:
REJournals.com Commercial Real Estate Hall of Fame – 2019 Inductee
Closed 350+ Transactions Worth over $1 Billion in 25 States
Multiple CoStar Power Broker Award Winner
Underwritten $5+ Billion in CRE Assets in 37 States
Damien’s previous experience in accounting and finance allow him to provide his clients with a high level of financial analysis and strategic real estate advice, such as sale-leasebacks, portfolio valuations, pre-M&A and post-M&A consulting and tax deferred exchanges. He has over 15 years of experience in real estate property and asset management. Damien has also invested in and developed retail and medical office properties in 5 states.
Damien is a Director of the firm’s National Retail Division and a Director of the National Net Leased Properties Group. He is an active member of International Council of Shopping Centers (ICSC), Urban Land Institute (ULI) and the American Real Estate and Urban Economics Association (AREUEA). He has also served as an advisory board member for multiple CRE and technology companies. Damien graduated from Indiana University’s Kelley School of Business with a double major in Finance and Real estate and a minor in Psychology.
Highlights:
REJournals.com Commercial Real Estate Hall of Fame – 2019 Inductee
Closed 350+ Transactions Worth over $1 Billion in 25 States
Multiple CoStar Power Broker Award Winner
Underwritten $5+ Billion in CRE Assets in 37 States
Madison Harman, First Vice President of Investments
Madison Harman, (formerly Madison Shurtz), First Vice President of Investments, guides her clients through a proactive decision-making process when it comes to the acquisition, disposition and exchange of investment grade retail, net leased and medical office properties throughout the United States.
Madison joined Marcus & Millichap in 2014 as an associate agent. In 2016, Madison became a member of the National Retail Group and Net Leased Properties Group of Marcus & Millichap. In 2018 she earned Senior Associate, in 2019 she became an Associate Director NRG and in 2021 she was promoted to First Vice President Investments. Madison has also accomplished becoming a Director of the Net Leased Properties Group.
In 2021 she closed over $210 Million in transactions as a Partner of the Yoder-Harman Group. The Yoder-Harman Group prides itself on the achievement of a 98% list to close ratio for pricing on all assets traded, and has underwritten over $4 Billion in assets with 400 transactions closed in 23 States.
Madison joined Marcus & Millichap in 2014 as an associate agent. In 2016, Madison became a member of the National Retail Group and Net Leased Properties Group of Marcus & Millichap. In 2018 she earned Senior Associate, in 2019 she became an Associate Director NRG and in 2021 she was promoted to First Vice President Investments. Madison has also accomplished becoming a Director of the Net Leased Properties Group.
In 2021 she closed over $210 Million in transactions as a Partner of the Yoder-Harman Group. The Yoder-Harman Group prides itself on the achievement of a 98% list to close ratio for pricing on all assets traded, and has underwritten over $4 Billion in assets with 400 transactions closed in 23 States.
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