150 Silhavy RdValparaiso, IN 46383

This exceptional investment opportunity presents a fee-simple ownership interest in the Valparaiso Marketplace, a 33,766-square-foot shopping center located at 150 Silhavy Rd, Valparaiso, Indiana, 46383. The property boasts a 100% occupancy rate with two national credit tenants, PetSmart and Barnes & Noble, under long-term triple-net (NNN) leases. PetSmart's lease commenced June 29, 2023, and runs for 10 years, while Barnes & Noble recently renewed their lease, extending its term for at least five additional years. Both leases include rent bumps, ensuring future income growth. Built in 2002 and extensively renovated in 2023, the property features a new loading dock for PetSmart, along with updated roofing, HVAC systems, and parking lot. The single-building property sits on a 3.63-acre lot with 165 parking spaces. The asking price is $8,368,000, representing a price per square foot of $248 and a 6.75% cap rate based on a net operating income (NOI) of $564,850. The property benefits from its strategic location in a high-traffic area, near the intersection of State Highway 49, Highway 30, and Laporte Avenue, with a combined daily traffic count exceeding 78,000 vehicles. Its proximity to Valparaiso University and Ivy Tech Community College further enhances its appeal. This Class A asset offers a compelling investment opportunity with strong tenant credit, long-term leases, and significant upside potential in a thriving market within Porter County, a growing area with a population exceeding 170,000. The property is ideally suited for a 1031 exchange.