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Franklin Commons | Franklin, IN 1010-1080 N Morton St 85,980 SF 100% Leased 4-Star Retail Building Franklin, IN 46131 $15,787,856 CAD ($183.62 CAD/SF) 7.65% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Franklin Commons is an 85,980 SF Kroger Marketplace Shadow-Anchored Shopping Center
  • 100% National Tenants including Marshalls (NYSE: TJX; S&P: A), Ross (NYSE: ROST; S&P: BBB+), Five Below, Maurices, PetSmart, and Shoe Dept. Encore
  • Offered at a 7.65% Cap Rate with Near-Term Value-Add through Increasing Below-Market Rents
  • Kroger Shadow-Anchored: Kroger is the 4th largest retailer in the world with 2,750 grocery stores
  • Below Replacement Cost; $132 PSF
  • 9.59% Proforma Cap Rate 3.07% CAGR; 35% NOI growth over 10 Years

EXECUTIVE SUMMARY

Kroger Marketplace Shadow-Anchored Center | 100% National Tenants | Value-Add Opportunity; 9.59% Proforma Cap Rate | Below Replacement Cost; 2017 Construction
Affluent Demos; $107,000 AHHI Within a 5-Mile Radius | Growing Indianapolis MSA

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
85,980 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2017
Price
$15,787,856 CAD
Price Per SF
$183.62 CAD
Cap Rate
7.65%
NOI
$1,207,904 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.19
Lot Size
10.20 AC
Zoning
MXC - Commercial
Parking
424 Spaces (4.93 Spaces per 1,000 SF Leased)

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • -
  • $25.13 CAD
  • Triple Net
  • Jun 2027

Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. They believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5 and some extreme value items priced beyond $5 in their incredible Five Beyond shop, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy, and New & Now.

  • Retailer
  • -
  • -
  • Triple Net
  • Aug 2027

Marshalls is an American off-price department store chain founded in 1956 in Beverly, Massachusetts. The company specializes in discounted brand-name apparel, footwear, accessories, and home décor. Marshalls was acquired by TJX Companies in 1995 and operates as part of the Marmaxx division alongside T.J. Maxx. Headquartered in Framingham, Massachusetts, Marshalls has expanded across the United States and Puerto Rico, as well as into Canada. The retailer emphasizes a “treasure hunt” shopping experience, with frequently changing inventory and designer merchandise at prices generally 20–60% below traditional retailers. Marshalls is publicly traded under its parent company TJX Companies on the New York Stock Exchange (NYSE: TJX).

  • Retailer
  • -
  • -
  • -
  • Jan 2027

Maurices is an American women’s fashion retailer founded in 1931 by E. Maurice Labovitz in Duluth, Minnesota. The company began as a small dress shop and evolved into a specialty retailer focused on affordable, versatile apparel and accessories. Today, Maurices operates as a privately held company under the ownership of OpCapita, which acquired a majority stake in 2019. The brand serves customers primarily in small towns and suburban markets across the United States and Canada, offering inclusive sizing from 0 to 24. Maurices emphasizes casual and workwear styles through both brick-and-mortar stores and its e-commerce platform. Headquartered in Duluth, Minnesota, the company continues to maintain its hometown roots while expanding omnichannel capabilities.

  • Retailer
  • -
  • -
  • Triple Net
  • Jun 2027

PetSmart is the leading pet retailer offering products, services and solutions for the lifetime needs of pets. At PetSmart, they love pets, and they believe pets make them better people. Every day with every connection, PetSmart’s passionate associates help bring pet parents closer to their pets so together they can live more fulfilled lives. This vision impacts everything they do for their customers, the way they support their associates and how they give back to their communities. PetSmart operates pet stores in the United States, Canada and Puerto Rico, as well as in-store PetSmart PetsHotel® dog and cat boarding facilities. They provide a broad range of competitively priced pet food and products as well as services such as dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp™ and pet adoption.

  • Retailer
  • -
  • -
  • Triple Net
  • Jan 2028

Since 1982, Ross' focus has been on bringing their customers a constant stream of high-quality department and specialty store brands at extraordinary savings (aka bargains) while providing an easy, fun and organized shopping experience. So what’s Ross' secret? Ross is big—as the nation’s largest off-price retail chain, Ross has a great deal of purchasing power. Ross is savvy—their buyers search the globe for the best brands and latest styles. Ross works directly with manufacturers to negotiate the best deals! Ross believes in “no frills”—no window displays, mannequins, fancy fixtures or decorations in their stores so they can pass more savings on to their customers. Ross loves new buys—they keep it simple so they can get the great buys into their stores quickly, which means almost every day!

  • Retailer
  • -
  • -
  • Triple Net
  • Jun 2027

Founded in 1960 in Kannapolis, NC, SHOE SHOW, INC.’s success has been based on a simple formula of providing quality products, service and value. SHOE SHOW, INC. is a leader in branded footwear, bags, and accessories for the entire family with over 58 years of experience. The company continues to grow with stores named SHOE SHOW, SHOE DEPT., Burlington Shoes, Shoebilee, SHOE DEPT. ENCORE, BURLINGTON SHOES ENCORE and SHOE SHOW MEGA. Currently SHOE SHOW, INC. has 1150+ stores in 47 states.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer - $25.13 CAD Triple Net Jun 2027
Retailer - - Triple Net Aug 2027
Retailer - - - Jan 2027
Retailer - - Triple Net Jun 2027
Retailer - - Triple Net Jan 2028
Retailer - - Triple Net Jun 2027

NEARBY MAJOR RETAILERS

Kroger
Bob Evans Restaurants
KeyBank
Rent-A-Center
Starbucks
Scooter's Coffee
Anytime Fitness
Horizon Bank
Huntington National Bank
Fifth Third Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
41-08-15-011-001.006-009
Land Assessment
$1,539,449 CAD
Improvements Assessment
$11,161,774 CAD
Total Assessment
$12,701,223 CAD
  • Listing ID: 37399684

  • Date on Market: 2025-08-23

  • Last Updated:

  • Address: 1010-1080 N Morton St, Franklin, IN 46131

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