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Views: 84 Updated: 01.14.24 Posted: 05.26.23 Status: Inactive

Summary

Price $2,308,000
Built/Renov 1989/2021
Tenant Martin's Supermarket
Cap Rate 6.50%
Lease Type NN+
Guarantor Corp Traded
Size/SF 48,064
Lease Start 03-27-2000
#Units 22
Price/SF $48.02
Expiration 03-26-2033
Tenant Type Grocery
NOI $150,000
R. Term 8.4
Ownership Fee Simple
Rent/SF $3.12
Increases 0.0%/0/yrs
Pop 5Mi 17,484
Lot/AC 5.16
Options 2/5yrs
AHHI 5Mi $75,409

Lease Highlights

  • Martin’s Supermarket has been operating in this location since 2000
  • Tenant has 9+ years remaining on the current lease term with 2 (5-year) options to extend
  • New roof installed in 2021 with an 8-year warranty
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by SpartanNash (NASDAQ: SPTN)

Location Description

Martin’s Supermarket is strategically located on East Jefferson Street seeing over 9,000 vehicles per day. The site benefits from excellent visibility and multiple points of ingress/egress, providing ease and convenience for customers. National/credit tenants in the area include Dollar General, Subway, AutoZone, CVS, Planet Fitness and many others. Additionally, Martin’s Supermarket is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Martin’s Super Market is a regional grocery chain owned by Spartan Nash (NASDAQ: SPTN). The first Martin’s Super Market opened in 1947 in South Bend, Indiana. From that small beginning, Martin’s...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,294 14,251 17,663
2023 Total Population : 5,318 14,184 17,606
2023 Employed Civilian Pop : 2,623 6,973 8,802
2023 Total Businesses : 353 815 896
2023 Average Household Income : $ 71,398 $ 80,435 $ 84,460
2023 Total Consumer Spending : $ 143 M $ 393 M $ 512 M
2023 Median Age : 38 38 39
2023 Total Households : 2,273 5,567 6,935
2023 Pop Age 25+: Bachelor's Degree : 482 1,549 2,033
2023 Average Home Value : $ 167,198 $ 181,802 $ 195,542
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East Jefferson Street N Kingston Rd 2021 4,430 0.13 mi
Columbus Drive Berkley St 2021 2,319 0.25 mi
Baker Street Ohio St 2021 2,878 0.31 mi
Baker Street Columbus Dr 2021 2,596 0.31 mi
Local Randolph Dr 2020 2,214 0.31 mi
East Lincoln Highway Mc Queen Pl 2021 2,555 0.32 mi
East Jefferson Street Indiana St 2021 8,654 0.32 mi
Baker Street Solomon Ct 2021 1,700 0.33 mi
Randolph Boulevard Big Red Dr 2021 1,663 0.37 mi
East Jefferson Street Simon St 2021 9,110 0.39 mi

Listing Broker

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