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Saltgrass Steak House GL | South Bend MSA 5126 N Main St 6,490 SF Retail Building Mishawaka, IN 46545 $3,338,714 CAD ($514.44 CAD/SF) 5.85% Cap Rate
INVESTMENT HIGHLIGHTS
- 17+ Years Remaining on NNN Ground Lease with Corporate Guaranty
- Excellent Rent to Sales Ratio | Top Performing Location
- Located in the Largest Retail Corridor in Northern Indiana - Surrounding Tenants Include Walmart, Sam’s Club, Target, Lowe’s, Meijer, etc.
- 10 Percent Rental Increases Every Five Years with Multiple Renewal Options
- Dense Trade Area in the South Bend MSA - 154,410 Residents within 5 Miles
- 3 Miles East of the University of Notre Dame (12,700+ Students)
EXECUTIVE SUMMARY
Saltgrass Steak House is an American steakhouse chain owned by Landry's, Inc., known for its chargrilled Certified Angus Beef steaks, chicken, and seafood. Founded in Houston, Texas, the company operates 96 locations and counting across 14 states.
Mishawaka is located on the St. Joseph River in northern Indiana, adjacent to the city of South Bend. Mishawaka, known as “the Princess City,” is a growing commercial city home to a growing population, major business expansion, and record-breaking new construction.
Mishawaka is located on the St. Joseph River in northern Indiana, adjacent to the city of South Bend. Mishawaka, known as “the Princess City,” is a growing commercial city home to a growing population, major business expansion, and record-breaking new construction.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,490 SF
Building Class
B
Year Built
2024
Price
$3,338,714 CAD
Price Per SF
$514.44 CAD
Cap Rate
5.85%
NOI
$195,328 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.71 AC
Zoning
C
Frontage
235’ on North Main Street
AMENITIES
- Restaurant
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Saltgrass Steak House
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Saltgrass Steak House | Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 71-04-33-276-008.000-005 | Improvements Assessment | $1,129,067 CAD |
| Land Assessment | $670,080 CAD | Total Assessment | $1,799,147 CAD |
PROPERTY TAXES
Parcel Number
71-04-33-276-008.000-005
Land Assessment
$670,080 CAD
Improvements Assessment
$1,129,067 CAD
Total Assessment
$1,799,147 CAD
CONTACTS
-
Brennan Clegg -
Mark Ruble -
Christopher Lind -
Zack House -
Josh Caruana -
Marcus & Millichap
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Saltgrass Steak House GL | South Bend MSA | 5126 N Main St
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