Description

Fortis Net Lease is pleased to present Churchman Hill Plaza, a stabilized core-plus retail investment opportunity located near Indianapolis offering immediate cash flow with significant long-term value creation potential. The property is supported by a diverse tenant mix anchored by investment-grade national retailers including Dollar Tree and Dollar General, both carrying S&P “BBB” credit ratings, alongside a complementary mix of essential retail, food, wellness, service, and neighborhood-oriented tenants. Occupancy stability is reinforced by several tenants that have operated at the center for more than 10 to 40 years, highlighting the property’s proven performance and long-term location durability. The offering is priced at an 8.00% going-in cap rate based on current NOI of approximately $583,517, delivering an attractive yield premium compared to comparable stabilized retail assets while maintaining downside protection through diversified and necessity-based income streams. Additional upside exists through leasing vacant suites, converting existing gross leases to net lease structures to reduce expense leakage, and capturing mark-to-market rental increases upon tenant rollover, many of which do not include renewal options. The expansive 8.49-acre site also provides meaningful future optionality through potential pad development, redevelopment opportunities, and continued operational enhancements. Positioned along a highly visible commuter corridor within a dense suburban infill market, the property benefits from strong surrounding demographics with more than 221,000 residents within a five-mile radius, making it a compelling investment combining stable income generation with long-term appreciation and redevelopment potential.