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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



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
Affluent Demos; $107,000 AHHI Within a 5-Mile Radius | Growing Indianapolis MSA
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
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- LEASE END
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.
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).
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.
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.
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!
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 | |
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Retailer | - | $25.13 CAD | Triple Net | Jun 2027 | |
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Retailer | - | - | Triple Net | Aug 2027 | |
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Retailer | - | - | - | Jan 2027 | |
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Retailer | - | - | Triple Net | Jun 2027 | |
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Retailer | - | - | Triple Net | Jan 2028 | |
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Retailer | - | - | Triple Net | Jun 2027 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 41-08-15-011-001.006-009 | Improvements Assessment | $11,161,774 CAD |
| Land Assessment | $1,539,449 CAD | Total Assessment | $12,701,223 CAD |
PROPERTY TAXES
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Franklin Commons | Franklin, IN | 1010-1080 N Morton St
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