For Auction
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 350-570 N Grandstaff Drive, Auburn, IN is a 116,000-square-foot, Family Farm & Home-anchored retail center on a combined 20.87 acres in the Fort Wayne MSA. The center is 69.5% occupied by national, regional, and local tenants and generates $293,132 of current NOI. Family Farm & Home occupies 56,000 SF, or 48% of GLA, under a lease recently extended through January 2033 with a scheduled rent increase in 2028 and two five-year options. Additional tenants include ISD Renal/DaVita Dialysis, leased through 2031, the YMCA of DeKalb County, and Jalapeno's Mexican Grill. The value-add thesis centers on 35,376 SF of second-generation vacancy across eleven suites; stabilized NOI at 90% occupancy is projected at $611,096. Most tenants reimburse CAM, taxes, insurance, and CAM admin, and a separate 1.31-acre parcel offers future development potential. Several tenants, including the YMCA, are on month-to-month terms. Built in 1988 and renovated in 2013, the property sits at N Grandstaff Drive and North Street just north of State Road 8 (20K VPD), surrounded by Kroger, Walmart, Harbor Freight, Dollar Tree, and Chipotle within one mile.
Due Diligence
Location
Auburn Cord Plaza sits at N Grandstaff Drive and North Street in Auburn, Indiana, just north of State Road 8 (20K VPD) and east of I-69 (35K VPD). Kroger, Walmart, Harbor Freight, and Texas Roadhouse operate within one mile, and Auburn's manufacturing district lies directly south. Fort Wayne, Indiana's second-largest city, is roughly 20 miles south, anchoring a 446,000-resident metro.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
