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1519 S SR 37 - Large Retail-Previously Kmart 1519 IN-37 52,577 SF of Retail Space Available in Elwood, IN 46036
HIGHLIGHTS
- Large Lighted Parking Lot - 308 Spaces
- Ask About Outright Sale
- Ask About Out Lots for Sale
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 52,577 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | Triple Net (NNN) |
1st Floor
Whether you’re a regional operator seeking a flagship location or an investor hunting for a ready-made redevelopment play, ownership is offering the property for lease—divisible to suit. Seller may consider an outright sale or divisions of out lots for sale. Favorable Indiana tax rates, and immediate access to Indianapolis-Anderson labor pools make this an efficient platform for e-commerce last-mile, climate-controlled self-storage, call-center, or flex industrial conversions. Aggressive tenant-improvement packages and creative deal structures are on the table—bring your concept and let’s discuss how this high-profile asset can elevate it.
- Lease rate does not include utilities, property expenses or building services
- Anchor Space
- Central Air and Heating
- Potential Subtypes...
- Big-Box / Anchor Retail... Medical or Call-Center
- Showroom / Wholesale Outlet... Distribution Center
- Entertainment / Indoor Recreation... Multi-Tenant
- Climate-Controlled Self-Storage Conversion
- Last-Mile Distribution / Cross-Dock
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 52,577 SF | Gross Leasable Area | 52,577 SF |
| Property Type | Retail | Year Built | 1972 |
| Property Subtype | Storefront Retail/Office |
| Total Space Available | 52,577 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 52,577 SF |
| Year Built | 1972 |
ABOUT THE PROPERTY
Position your brand at the gateway to Elwood with this 52,577 SF former Kmart—one of the largest contiguous floorplans available in Madison County. Anchored on State Road 37 just south of the SR 13 junction, the building commands attention with its towering roadside pylon and Large lighted parking field. The clear-span interior (nearly column-free) invites easy re-configuration for big-box retail, value grocery, entertainment, or showroom concepts, while full-glass storefronts and multiple entry points simplify multi-tenant division.
- 24 Hour Access
- Pylon Sign
- Security System
- Signage
- Air Conditioning
NEARBY MAJOR RETAILERS
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1519 S SR 37 - Large Retail-Previously Kmart | 1519 IN-37
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