502 S Oakland Ave - 502 S Oakland Ave

Nappanee, IN 46550

• NNN Property
• Industrial for Sale
• $11,937,495 CAD
• 166,962 SF

Nappanee Industrial for Sale - Outlying Elkhart County

LONG-TERM INCOME SECURITY WITH EMBEDDED BELOW-MARKET RENT UPSIDE — Q2 Artificial Lift Services demonstrated their long-term commitment to the Nappanee facility by proactively approaching ownership to negotiate a brand-new 10-year NNN lease which commenced June 1, 2026 — just 14 months after acquiring US Rod Manufacturing. This tenant-driven lease extension eliminates rollover risk and positions the asset as a core, long-term income investment: 9.50 years of lease term remaining (as of 12/1/26 analysis start) with contractual stepped rent growth through May 2036. In-place Year 1 rent of $3.38/SF is approximately 25% below the current market rate of $4.50/SF NNN. Even at lease expiration in 2036, the tenant’s contract rent of $4.56/SF is projected to be approximately 25% below the projected market rate of $6.05/SF — preserving meaningful upside for the next investor. One (1) five-year renewal option at Fair Market Value with a 103% rent floor provides additional term optionality and downside protection. “STICKINESS” FACTOR: MISSION CRITICAL HEAVY DUTY / $20 M + HIGHLY SPECIALIZED “SUCKER ROD” MANUFACTURING FACILITY — The 502 S. Oakland Avenue facility’s primary role is the production of sucker rods, a core component commonly referred to as the “backbone” of rod lift systems. Approximately 70% to 80% of oil wells worldwide rely on artificial lift systems that require this component. — US Rod is the only privately owned sucker rod manufacturing plant in the United States, ensuring domestic supply chain security and faster delivery for North American operators — a major competitive differentiator in an industry highly sensitive to downtime and logistics disruptions. — This location is essential to the operations of US Rod Manufacturing and houses more than $20 million of purpose-built, proprietary manufacturing equipment that cannot be readily replicated or relocated, making the Nappanee facility an irreplaceable component of Q2 Artificial Lift Services’ North American operations. THRIVING ELKHART INDUSTRIAL MARKET | LOW VACANCY, SCARCE SUPPLY, STRONG RENT GROWTH — Nappanee, IN is part of the greater Elkhart, IN industrial market, a mature market comprised of roughly 94.4 M SF of inventory. Market rents in Elkhart for specialized (manufacturing) assets are $5.00/SF (current rent at subject facility = $3.38/SF). — The market is extremely tight with a low vacancy rate of only 2.6% as of Q3 2026. In addition, as of Q3 2026 there is only 43,000 SF of new product under construction in the entire Elkhart market (scarce supply). As a result of high demand and low supply, average annual rent growth over the past five years is a robust 5.4%.

Contact:

CBRE

Property Subtype:

Manufacturing

Date on Market:

2026-08-24

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Dutch Bro's - 3418 Lake City Hwy

Warsaw, IN 46580

• NNN Property
• Retail for Sale
• $4,055,024 CAD
• 986 SF

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.

Contact:

Marcus & Millichap

Date on Market:

2026-07-15

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Popeyes | New 20-Yr Abs NNN | Warsaw, IN - 3501 Lake City Hwy

Warsaw, IN 46580

• NNN Property
• Retail for Sale
• $3,588,319 CAD
• 1,958 SF

• Air Conditioning
• Smoke Detector

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.

Contact:

Marcus & Millichap

Property Subtype:

Fast Food

Date on Market:

2026-07-09

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Valvoline Instant Oil Change | South Bend, IN - 219 E Ireland Rd

South Bend, IN 46614

• NNN Property
• Retail for Sale
• $2,758,520 CAD
• 1,674 SF

• 24 Hour Access

South Bend Retail for Sale - Greater South Bend

This offering presents a rare opportunity to acquire a newer construction, passive net lease asset occupied by Valvoline, a nationally recognized and publicly traded tenant with a strong and expanding footprint across North America. The property is secured by a long-term absolute NNN lease with about 10 years remaining, providing stable income with no landlord responsibilities. The investment is further strengthened by an experienced multi-unit operator with a personal guaranty, adding an additional layer of security. The property sits in a highly active retail corridor directly across from major national retailers including Walmart, Menards, and Lowe's, which helps drive consistent traffic to the area. Located in South Bend, the market is anchored by University of Notre Dame, supporting a stable local economy with year-round demand from students, faculty, and visitors.

Contact:

NNN Investment Group of Marcus & Millichap

Property Subtype:

Freestanding

Date on Market:

2026-06-30

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2101 Lincoln Way E

Mishawaka, IN 46544

• NNN Property
• Flex for Sale
• $1,124,097 CAD
• 12,195 SF

• Smoke Detector

Mishawaka Flex for Sale

Well-maintained flex/office/warehouse property for sale on highly visible Lincolnway East in Mishawaka. Zoned C-1 Commercial, the property is currently operating as a daycare and leased NNN at $74,267.55/Yr Property includes 4,500 SF of finished first-floor, 2,375 SF mezzanine 2nd floor, and 5,320 SF warehouse space with 3 overhead doors, heavy power, high ceilings, and floor drain. Excellent access, visibility, and long-term flexibility for investors or future owner-users. Property Highlights Commercial Zoning C-1 Commercial zoning supports a variety of commercial uses, subject to municipal approval Office Layout Nicely finished office space with private offices, reception/waiting area, work room, and break room Mezzanine 2,375 SF mezzanine office accessed by a spiral lobby staircase Warehouse 5,320 SF warehouse section with high ceilings Loading/Access 3 overhead doors Utility Features Heavy power and floor drain Visibility Strong frontage and access on Lincolnway East Investment Appeal In-place NNN tenant provides income with tenant reimbursement structure

Contact:

Smart Properties USA

Date on Market:

2026-05-26

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Valvoline - 309 W Plaza Dr

Columbia City, IN 46725

• NNN Property
• Retail for Sale
• $1,880,809 CAD
• 3,582 SF

• Restaurant

Columbia City Retail for Sale - Outlying Whitley County

Surmount is pleased to present the exclusive listing for a Valvoline located at 309 West Plaza Drive, Columbia City, IN 46725. The site consists of roughly 1,462 rentable square feet of building space on an estimated .95-acre parcel of land. Valvoline is subject to a 15-year Triple Net (NNN) lease, rent is expected to commence 6/1/2026. The current annual rent is $75,000 and has scheduled increases of 10.00% Every 5 Years.

Contact:

Surmount

Property Subtype:

Restaurant

Date on Market:

2026-04-08

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4447 E Park 30 Dr

Columbia City, IN 46725

• NNN Property
• Industrial for Sale
• $8,608,881 CAD
• 53,500 SF

Columbia City Industrial for Sale - Outlying Whitley County

This 53,500-square-foot industrial investment property presents a strong opportunity to acquire a fully leased, single-tenant net-leased asset with stable income and a credit-grade tenant. The building is 100% leased to Ultra Maritime, which executed a new 5-year lease in December 2025 that includes renewal options and scheduled rent escalations, providing long-term income growth and security. Offered at a 6% cap rate, the property delivers reliable cash flow backed by a quality tenant. Situated on 4.42 acres, the facility is well-equipped to support modern industrial operations. The building features a 27-foot clear height, 8-inch concrete floors, and efficient loading capabilities with three dock doors (with levelers) and two overhead doors (10’ x 12’ and 14’ x 16’). Recent capital improvements include a brand-new air conditioning system in the warehouse and a standing seam metal roof with a rubber coating applied in 2018. Additional features include LED lighting, a wet sprinkler system, and robust power capacity with 3-phase, 1,200 amp, 480/277 volt service, supplemented by an additional 300 KVA transformer. This well-maintained, high-functioning facility offers investors a secure, income-producing asset with strong fundamentals and long-term upside.

Contact:

NAI Hanning & Bean

Property Subtype:

Manufacturing

Date on Market:

2026-01-26

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Burger King | New 15-Yr NNN | Mishawaka, IN - 2801 Lincolnway E

Mishawaka, IN 46544

• NNN Property
• Retail for Sale
• $2,991,521 CAD
• 3,780 SF

Mishawaka Retail for Sale

Marcus & Millichap is pleased to present a freestanding Burger King with drive-thru located at 2801 Lincolnway East in Mishawaka, Indiana. The ±3,780-square-foot restaurant, remodeled in 2019, sits on ±1.50 acres and is secured by a new 15-year NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $125,798 produces a 5.80% cap rate, with scheduled 10% rent increases every five years providing built-in income growth. The lease is guaranteed by Crown Hospitality Partners, Inc., an experienced 36-unit Burger King franchisee led by career operators with seven decades of combined system experience. The property is positioned along Lincolnway East/SR 933 (±19,504 VPD) near Capital Avenue (±24,443 VPD), connecting Mishawaka, South Bend, and the Indiana Toll Road, with corridor neighbors including Taco Bell, Wendy's, Dunkin', and Dollar General. The 5-mile trade area holds 104,530 residents with an average household income of $93,441, supported by the University of Notre Dame (13,129 students) and Bethel University (1,134 students). The South Bend-Mishawaka MSA supports 326,282 residents with $1 billion in active downtown development. Burger King operates 19,000+ locations in 120+ countries as a flagship brand of Restaurant Brands International (NYSE: QSR), pairing global brand strength with passive net-lease income.

Contact:

Marcus & Millichap

Property Subtype:

Fast Food

Date on Market:

2026-08-04

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