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2200 Elmwood Ave
Lafayette, IN 47904

$12,155,000 USD

Storefront For Sale  •  132,398 SF

Property Details

  • Property Type Storefront
  • Total Building Size 132,429 SF
  • Lot Size 20.6 AC
  • Building Class B
  • Year Built 1958
  • Cap Rate 8.60 %
  • Tenancy Multiple
  • Zoning GB
33 Transit Score
67 Walk Score

Highlights

Attractive 8.50% CAP Rate and Low $91/S.F. Sales Price with Significant Upside Available (To Be 85% Occupancy) Through Lease-Up and Rent Growth
Huge Draw: 2.5 Miles to Purdue University: 40k+ Students and 15k+ Employees (Tenant: NeoVision’s Official Eyecare Provider for Purdue Athletics)
Growing Community with Average Household Incomes of $83k+ and High Population Density of Approx. 140k Within 5-Miles (Not Including Purdue Students)
In 2023, The Wall Street Journal and Realtor.com Have Ranked Greater Lafayette the No. 1 Emerging Housing Market in America Based
Directly Adjacent to Northend Community Center: $14 Million/97k S.F. Development Built in 2018, Huge Traffic Driver
Multiple Signalized Entrances & Corner Location Between 3 Main Roadways, Highly Visible Pylon & Monument Signage & Center Visibility w/ 7 Entrances

Property Flyers

Financial Summary (Actual)

Net Operating Income: $1,045,252 USD (2024)
Cap Rate: 8.60 %

Major Tenants

Tenant SF Occupied Lease End Date
Arni's Pizza 9,668 SF 3/1/2026
Bureau Of Motorvehicles 12,930 SF 1/1/2033
Calm Waters Therapy 2,980 SF 2/1/2028
Dollar General 17,828 SF 11/1/2026
FFR Health 5,544 SF 4/1/2026
First Merchants Bank 4,323 SF 4/1/2026
Neovision 7,224 SF 7/1/2027
State of IN 15,387 SF 12/31/2035
The Downtowner 6,455 SF 6/1/2027

Amenities

  • Banking
  • Bus Line
  • Corner Lot
  • Courtyard
  • Dedicated Turn Lane
  • Pylon Sign
  • Restaurant
  • Signage
  • Signalized Intersection
  • Monument Signage
  • Air Conditioning

Public Transportation

Commuter RailDriveWalkDistance
Lafayette Amtrak Station (Cardinal - Amtrak) 5 min - 2.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 189
Type: Surface
Included in Rent: Yes
Daniel Cooper 216-562-1981 Cooper Commercial Investment Group
Daniel Cooper 216-562-1981 Cooper Commercial Investment Group