Century Plaza — Sale in Merrillville, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Merrillville, IN 46410
  • Year built: 2003

Photos

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Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the exclusive opportunity to acquire a 100% fee simple interest in Century Plaza, a premier, 100% occupied Class "A" retail strip center located in Merrillville, Indiana, within the prominent Chicago MSA. Spanning 18,215 square feet on approximately 1.64 acres, the property features a highly successful, internet-resistant tenant roster heavily oriented toward dining and daily services. The center is anchored by a top-tier Panera Bread with a dedicated drive-thru, which stands as a top-performing location ranked in the top 7% nationwide. The asset boasts excellent historical stability, showcasing nationally recognized brands like Panera Bread, Qdoba, and Plato's Closet. Century Plaza is strategically positioned at the high-traffic intersection of East Lincoln Highway (the area's main retail corridor) and Broadway, benefiting from an exceptional combined traffic count of over 87,000 vehicles per day. Situated within a dense and affluent southern Chicago suburb, the property serves a captive market of over 100,000 residents with average household incomes exceeding $80,000 within a 5-mile radius. Offered free and clear of debt, Century Plaza provides an incoming investor with an immediate, secure, and predictably growing cash flow backed by an institutional-quality retail asset. Investment Highlights: • Class "A" Panera-Anchored Asset: Features an institutional-quality, 18,215-square-foot retail design that is 100% leased to a strong mix of e-commerce-resistant restaurant and retail tenants. • Top-Performing Drive-Thru Anchor: The anchor tenant, Panera Bread, utilizes a high-volume drive-thru lane and ranks among the top 7% of all Panera locations nationwide. • Passive Triple-Net (NNN) Structure: All tenants operate under triple-net leases, minimizing direct landlord capital exposure and expense responsibilities. • Contractual Revenue Growth: Built-in rental escalations across the tenant leases provide an excellent hedge against

Market Context

This retail in Merrillville, IN is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2003. Compare it against other retail listings for sale in Merrillville, IN — view the full market.

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