Warsaw Retail for Sale

This newly constructed Dutch Bros coffee property represents a rare long-term net lease investment located along the high-traffic US-30 corridor in Warsaw, Indiana. Built in 2026 as a modern prototype, the asset consists of a 986 SF drive-thru building on a ±0.92-acre parcel with strong visibility and direct access to 31,600+ vehicles per day. Dutch Bros has committed to a 15-year absolute NNN lease with 10 percent rent increases every five years and three five-year options, ensuring predictable cash flow and passive ownership. The tenant is a publicly traded company (NYSE: BROS) and operates over 1,080 locations nationwide with robust growth projections and increasing revenue performance. The location is well-positioned among major national retailers including Rural King, McDonald’s, Dollar General, and Popeyes, maximizing consumer draw. Situated less than a mile from DePuy Synthes and other major employment centers, the property captures strong daytime population and stable demographics, with average household incomes exceeding $98,000 within one mile. With zero landlord responsibilities, steady escalations, and corporate guaranty, this investment offers long-term income stability backed by a creditworthy tenant in a thriving regional market.

Date on Market:

2026-07-15

Warsaw Retail for Sale

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes drive-thru located at 3501 Lake City Highway in Warsaw, Indiana, the commercial hub of Kosciusko County. The ±1,958-square-foot restaurant, built in 2022, sits on ±0.67 acres and is secured by a brand-new 20-year absolute NNN lease commencing June 2026, with zero landlord responsibilities and four (4) five-year renewal options and scheduled 10% rent increases every five years delivering consistent organic income growth and long-term inflation protection. The property is operated by an award-winning, experienced Popeyes franchisee with an extensive portfolio across the Greater Chicago Area, Indiana, Michigan, and Wisconsin, recognized as 2024 Popeyes Developer of the Year and 2022 Popeyes Franchisee of the Year, with a personal guaranty in place (inquire with agent for details). The property is positioned along Lake City Highway (US-30) at its intersection with E Old Rd 30 (±5,690 VPD), Warsaw's primary east-west commercial corridor carrying ±25,422 VPD, with adjacent neighbors including Rural King, Dollar General, Wings Etc., and Paragon Medical. The 5-mile trade area supports 57,060 residents with an average household income of $98,611, and the 3-mile population of 21,488 benefits from a strong daytime employment base anchored by Zimmer Biomet, DePuy Synthes Johnson & Johnson MedTech, Autocam Medical, and Grace College (2,485 enrollment). Warsaw's orthopedic industry supports 13,000 local jobs and approximately one-third of global orthopedic manufacturing, underpinning a stable, growing regional economy with long-term net-lease demand.

Property Subtype:

Fast Food

Date on Market:

2026-07-09

South Bend Land for Sale - Greater South Bend

Development opportunity 8+/- acres zoned commercial. 24 different commercial uses. List of uses available in media. Examples: carwash, storage units, fast casual drive thru, coffee shop drive thru, medical, multi family, automotive service, hotel, retail; Across from Four Winds Casino Resort. Adjacent to a Proposed 300 acre data center. Source South Bend Tribune December 18th 2025. 800’ Frontage on State Road 23, 1/4 off 20/31 St Joseph Valley Parkway. Water, sewer and retention basin. Parcel can be divided. Shovel ready. Property is free and clear able to close after a due diligence 30/45 days. Property located 15 minutes from International Airport and University of Norte Dame. 10 Minutes from Downtown South Bend.

Property Subtype:

Commercial

Date on Market:

2026-06-30

Mishawaka Retail for Sale

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Bittersweet Plaza, a 36,531 square foot grocery shadow anchored retail center located in Mishawaka, just outside South Bend, Indiana. Priced at a 7.37% CAP on the current, in-place net operating income, the building is positioned to meaningfully cash flow at the asking price. The most compelling aspect of this opportunity is the optionality with which one can approach several complimentary value-add strategies. Bittersweet Plaza is currently 68% occupied, with two vacant suites that will significantly add to the property’s cash flow once leased. The plaza will be conveyed along with a single tenant, triple drive-thru PNC Bank – with notably high deposits – as well as an additional half-acre developable outparcel. Adjacent to the outparcel, Martin’s leases a fuel station that is currently paying $15,000 annually. Though Martin’s has two years of term remaining on that lease, as well as two flat 5-year option periods, the longterm potential of the fuel station is enormous. It is not as if this upside can all be unlocked overnight, but for a patient investor with time on their side, this is a rare opportunity to create value over the entirety of their hold period, while enjoying cash flow along the way. By all accounts, Martin’s Super Market is high performing, and though it is owned separately, Martin’s is still responsible for their pro rata share of parking lot expenses, and as a result are contributing substantially to the gross income of Bittersweet Plaza. This is important because Martin’s contributions to overall CAMs help ease the amount of expense leakage that one would typically see in a 68% occupied retail center. Martin’s Super Market is known as the dominant grocer in this part of the country. Martin’s is owned by C&S Wholesale Grocers, the 8th largest privately held company in the United States. Please reach out to Marcus & Millichap with additional questions about Bittersweet Plaza.

Property Subtype:

Supermarket

Date on Market:

2026-02-17

South Bend Retail for Sale - Greater South Bend

Property Subtype:

Bank

Date on Market:

2025-03-10

North Webster Retail for Sale

Basis-Driven Investment with Long-Term Control & Downside Protection SAB Capital is pleased to present the exclusive offering of a single-tenant, net-leased CVS Pharmacy located in North Webster, Indiana. The Property is secured by CVS Health Corporation, an investment-grade rated tenant (S&P: BBB / Moody’s: Baa2), and benefits from a recently executed lease amendment in 2021 that reestablished a new 20-year primary term, providing approximately 15 years of remaining lease term and long-term income stability. The investment is structured as an absolute net lease, offering a truly passive ownership experience with zero landlord responsibilities. CVS is responsible for all operating expenses, including taxes, insurance, and maintenance, delivering durable, bond-like cash flow backed by one of the nation’s leading pharmacy operators. What differentiates this opportunity is its below-market rent profile. The property is leased at $100,100 annually ($9.93/SF), representing a meaningful discount to prevailing market rents of approximately $12/SF. This creates an embedded margin of safety and positions the asset for long-term upside, whether through mark-to-market potential or enhanced residual value. Unlike many net lease investments that trade at or above market rents, this offering provides a basis-driven investment thesis with both downside protection and future optionality. The Property is strategically situated on ±1.59 acres with dual frontage along S Main Street (State Road 13) and Effie Mae Street, offering strong visibility and accessibility in a proven retail corridor. CVS has successfully operated at this location for over 20 years, reinforcing the site’s viability and importance as a local healthcare and convenience retail destination. This offering presents investors with the rare opportunity to acquire a long-term, investment-grade net lease with a recent lease reset, below-market rent, and strong underlying real estate fundamentals. The combination of passive income, tenant credit quality, and favorable basis positions the asset as a compelling addition to both income-focused and value-oriented portfolios.

Property Subtype:

Drug Store

Date on Market:

2026-04-17