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Visionworks 2141 Sagamore Pky S 2,405 SF Retail Building Lafayette, IN 47905 $1,225,000 ($509.36/SF) 6.65% Cap Rate
Investment Highlights
- Operates under a triple-net lease, whereas tenant reimburses landlord for CAM, Property Taxes and Insurance and landlord collects a 15% CAM Admin fee
- 10 Yr operating history & site committment through recent renewal option
- Adjacent to the Tippecanoe Mall, an indoor regional mall and surrounded by numerous national retailers
- Lease features rental increases in each of the remaining three, five-year renewal options
- Located along Sagamore Parkway S, the main thoroughfare through Lafayette that experiences +/-30K VPD
Executive Summary
The Klink Group of Marcus & Millichap is pleased to present for sale a single-tenant, net-leased Visionworks property located at 2141 Sagamore Parkway South in Lafayette, Indiana—one of the city’s most dominant retail corridors. The asset is strategically positioned along Sagamore Parkway, which experiences approximately 30,000 vehicles per day and is surrounded by a dense concentration of national retailers and regional traffic drivers, including Tippecanoe Mall.
The property is leased to Visionworks under a triple-net (NNN) lease structure, providing investors with a passive income stream and minimal landlord responsibilities. The tenant reimburses for common area maintenance (CAM), real estate taxes, and insurance, while the landlord benefits from an additional 15% CAM administrative fee. The lease is corporately guaranteed and currently has over five years of remaining term, offering near-term stability with built-in upside through three, five-year renewal options featuring 10% rental increases in each period.
The property is leased to Visionworks under a triple-net (NNN) lease structure, providing investors with a passive income stream and minimal landlord responsibilities. The tenant reimburses for common area maintenance (CAM), real estate taxes, and insurance, while the landlord benefits from an additional 15% CAM administrative fee. The lease is corporately guaranteed and currently has over five years of remaining term, offering near-term stability with built-in upside through three, five-year renewal options featuring 10% rental increases in each period.
Property Facts
Sale Type
Investment
Property Type
Building Size
2,405 SF
Building Class
C
Year Built
2016
Price
$1,225,000
Price Per SF
$509.36
Cap Rate
6.65%
NOI
$81,463
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.48 AC
Amenities
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 79-07-34-252-005.000-005 | Improvements Assessment | $405,100 |
| Land Assessment | $0 | Total Assessment | $405,100 |
Property Taxes
Parcel Number
79-07-34-252-005.000-005
Land Assessment
$0
Improvements Assessment
$405,100
Total Assessment
$405,100
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Visionworks | 2141 Sagamore Pky S
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