- For sale
Prairie Lakes Shopping Center is an attractive, fully leased retail strip center located along a major thoroughfare in Noblesville, providing the investor secure long-term yield with numerous avenues to add value throughout the hold period. The Property is located on Mundy Drive along SR 37 and experiencing some of the best demographics in the Indianapolis MSA with over 150,000 residents within a 5-mile radius boasting an average household income of $131,320. State Road 37 is currently being redeveloped at 141st and 146th Streets, adding roundabouts and wider interchanges to increase and aid the flow of traffic to this trade area and this asset. Over time, this will prove to strengthen the trade area and daytime traffic levels as a more efficient east-west thoroughfare across our wealthiest northern suburbs.
The Property benefits from over four (4) years of WALT from a high-performing, diverse tenant roster. Average in-place rents stand 12.71% below today’s market rent, providing the investor the opportunity to add value in upcoming renewals and benefit from long-term appreciation in the dynamic Hamilton County market & SR-37 trade area. The Property also benefits from a desirable tenant roster serving a wide range of consumers – UPS, dry cleaner, health consultants, popular Indian grocery store, restaurant, nail salon, hair salon and foot spa – all of which are destination retailers in nature.