MOD Pizza & McAlister's Deli
Elkhart, IN 46514
MOD Pizza & McAlister's Deli Logo Image
SWQ County Road & Cassopolis
Elkhart, IN 46514
  • Asking Price: $3,857,600
  • Cap Rate: 6.00%
  • Lease Type: Net Lease
  • Status: Available
PROPERTY DETAILS:

BRAND NEW NNN LEASES - The 100% leased two-tenant property features NNN leases with tenants reimbursing for CAM, taxes, and insurance. Additionally, the tenants pay a 3% management fee or 15% admin fee on CAM. RARE 12-YEAR TERMS - Both leases feature a rare 12 years of initial lease term with zero early termination rights and strong rental increases throughout the primary and option terms. NATIONAL CREDIT TENANTS - MOD Pizza is the largest fast-casual pizza chain with over 330 locations, generating more than $275 million in 2017. McAlister's Deli is one of the largest fast-casual sandwhich chains with over 400 locations, generating $550 million in revenue. MAJOR ANCHOR DRAW - The property is an outlot to the Shoppes on Six and anchored by Walmart Supercenter, Ross Dress for Less, PetSmart, Five Below, and ATI Physical Therapy. Other major tenants nearby include Lowe's, Menards, and AMC Theatres, with adjacent outlot tenants that include Dunkin Donuts, Qdoba, Noodles, Panda Express, Kay Jewelers, and Great Clips. EXCELLENT EXPOSURE AT MAIN ENTRANCE - The site features excellent visibility and exposure at the center's main entrance along County Road 6, just west of its signalized intersection with Cassopolis Street, where combined traffic counts exceed 48,200 vehicles per day. ROBUST, REGIONAL TRADE AREA - The property is strategically positioned at the focal point of this robust, regional trade area - encompassing 190,000 people with $4.05 Billion in spending per year. Less than 1/2 mile north is the city's primary access to I-80 & I-90 which provide an excellent source of incoming traffic from the northern Indiana / southern Michigan customer base, as well as University of Notre Dame. THRIVING MIDWEST ECONOMY - Elkhart is home of the "Top 3 Manufacturers in the US" by IndustryWeek Magazine. Elkhart was recently ranked #1 for the "Largest Employment Gains in the US" by adding more than 41,300 jobs since 2009. The city currently holds the fourth-lowest unemployment rate in the US and is the first-lowest in the state of Indiana with just 2.2% unemployment. Its GDP is one of the fastest-growing in the country with a 7.6% increase in 2017.