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Receiver Sale: Auburn Cord Plaza | 2033 Anchor, Lease-Up

$1,150,000

350-570 North Grandstaff Drive, Auburn, IN 46706

Active
Last Updated: 10/26/2026

116,000 sqft

Building Size

20.87 acres

Lot Area

Details:
Building Size:    116,000 sqft
Lot Area:    20.87 acres
Occupancy:    69.5%
Year Built:    1988
Year Last Renovated:    2013
Highlights:
  • Family Farm & Home Anchor Extended to 2033: 56,000 SF anchor holds 48% of GLA, with rent stepping from $152,500 to $167,750 in February 2028.
  • 35,376 SF of Second-Generation Vacancy: Eleven vacant suites carry $332,338 of scheduled rent on the roll, all second-generation space.
  • NNN Reimbursements Across Most of the Roll: Tenants other than YMCA and TD Nails reimburse CAM, taxes, insurance, and CAM admin expenses.
  • $293K Current NOI, $611K Stabilized at 90%: Pro forma lease-up to 90% occupancy lifts NOI 108%, with EGI rising from $570,309 to $883,401.
  • Separate 1.31-Acre Parcel for Development: Additional land parcel sits beside the 19.56-acre center, creating a pad or expansion path for NOI.
  • Retail Corridor Off State Road 8 and I-69: Kroger, Walmart, Chipotle, Texas Roadhouse, and Harbor Freight operate within one mile of the site.
Description:

View details and diligence materials on RI Marketplace:
https://rimarketplace.com/auction/2638/retail/auburn/in?utm_source=aqqire&utm_medium=free_listing&utm_campaign=november19_2026&utm_content=retail_2638

Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 350-570 N Grandstaff Drive, Auburn, IN is a 116,000-square-foot, Family Farm & Home-anchored retail center on a combined 20.87 acres in the Fort Wayne MSA. The center is 69.5% occupied by national, regional, and local tenants and generates $293,132 of current NOI. Family Farm & Home occupies 56,000 SF, or 48% of GLA, under a lease recently extended through January 2033 with a scheduled rent increase in 2028 and two five-year options. Additional tenants include ISD Renal/DaVita Dialysis, leased through 2031, the YMCA of DeKalb County, and Jalapeno's Mexican Grill. The value-add thesis centers on 35,376 SF of second-generation vacancy across eleven suites; stabilized NOI at 90% occupancy is projected at $611,096. Most tenants reimburse CAM, taxes, insurance, and CAM admin, and a separate 1.31-acre parcel offers future development potential. Several tenants, including the YMCA, are on month-to-month terms. Built in 1988 and renovated in 2013, the property sits at N Grandstaff Drive and North Street just north of State Road 8 (20K VPD), surrounded by Kroger, Walmart, Harbor Freight, Dollar Tree, and Chipotle within one mile.

Location
Auburn Cord Plaza sits at N Grandstaff Drive and North Street in Auburn, Indiana, just north of State Road 8 (20K VPD) and east of I-69 (35K VPD). Kroger, Walmart, Harbor Freight, and Texas Roadhouse operate within one mile, and Auburn's manufacturing district lies directly south. Fort Wayne, Indiana's second-largest city, is roughly 20 miles south, anchoring a 446,000-resident metro.


Bidding Opens
Nov 18 1:00 AM
Bidding Closes
Nov 20 1:00 AM

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