Your email has been sent.
Drive-Thru BMO Harris Bank Retail Center 25-33 E Sibley Blvd 9,942 SF 100% Leased Retail Building Hammond, IN 46320 $3,640,332 CAD ($366.16 CAD/SF) 8% Cap Rate
Investment Highlights
- 4-Tenant Retail Strip Anchored by BMO Harris Bank, Located on the Outpad to a Strack & Van Til (Hy-Vee), the Dominant Grocer in Northwest Indiana
- The Chicago Bears have Announced that They are Moving Forward with Their Plan to Build a New Stadium in Hammond, Indiana
- BMO Harris is Equipped with a Double Drive-Thru, Adding to the Residual Value of the Location
- Placer Scores for BMO, Midwest Express and Wingstop are Extremely Strong, Demonstrating High-Traffic and High Sales Performance Potential
- The Community Reinvestment Act Mandates that Banks Operate and Serve in Lower to Moderate Income Areas, Reinforcing BMO’s Stickiness to this Site
- Masonry Building with Exceptional Street Presence Both on Sibley, as well as High Visibility and Accessibility to Traffic Exiting Strack & Van Til
Executive Summary
Indiana. The property is anchored by a drive-thru BMO Harris Bank branch, as well as shadow anchored by a Strack & Van Til (Hy-Vee) supermarket, to
which this retail center is positioned as an outparcel. BMO’s A+ credit rating (per Standard & Poors’ Global Credit Rating) backs more than 50 percent of
the property’s cash flow, and three out of four of the tenants are national, multi-unit operators.
Priced well below the cost it would take to build today, this property is offered for sale at $264 per square foot, or at a 8.00 percent CAP rate. As institutional
capital has migrated into neighborhood strip centers as a preferred asset class, average cap rates have compressed to record levels.
Due to the Community Reinvestment Act, the government mandates that banks serve moderate and lower income communities, ensuring that BMO will remain
sticky to this location. Furthermore, the cost of identifying available land, gaining zoning approvals for multi-lane drive-thrus and building a new bank branch
elsewhere in Hammond is completely cost-prohibitive, further guaranteeing the longevity of BMO.
Northwest Indiana has enjoyed sustained economic and demographic growth over the last twenty years due to its pro-business regulatory environment. Both
businesses and people have migrated from Illinois across the border to enjoy the lower cost of living that Indiana affords. Items such as cigarettes, liquor and
gasoline, which is taxed at a higher rate in Illinois, continually draws Chicago residents across the border to purchase these products in Indiana. This trend has
provided an enormous tailwind to the Indiana economy and has bolstered the state’s retail sales prodigiously.
Please reach out to Marcus & Millichap with additional questions about this opportunity.
Property Facts
Amenities
- 24 Hour Access
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Finance and Insurance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
BMO began in 1817 as the Bank of Montreal and has grown into a diversified North American financial services company. BMO provides personal and commercial banking, wealth management, global markets, and investment banking services, along with loans, credit cards, mortgages, and investment solutions for consumers and businesses. BMO also serves U.S. customers through retail and business banking offerings while maintaining a broad presence across Canada and the United States.
-
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Midwest Express Clinic began in 2012 with its first clinic in Munster, Indiana, and later expanded across Chicagoland and Northwest Indiana. The company operates as a walk-in urgent care provider, offering an alternative to an emergency room or a standard appointment for non-emergency illnesses and injuries. Services include urgent care, primary care, diagnostic testing, vaccinations, women's health, pediatric care, lab testing, x-rays, and other medical services. Midwest Express Clinic accepts many major insurance plans and provides flexible walk-in access across its clinic network.
- Sibley Tobacco
- -
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
-
- Accommodation and Food Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Wingstop began in 1994 as a small buffalo-style chicken wing restaurant in Garland, Texas, and started franchising in 1997. The company operates as a franchisor and restaurant operator centered on cooked-to-order, hand-sauced chicken wings, boneless wings, tenders, chicken sandwiches, fries, and housemade dips. Wingstop has expanded into a significant global restaurant network and continues to focus on flavor-driven menu offerings across its system.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Finance and Insurance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
|
|
Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
| Sibley Tobacco | - | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
|
|
Accommodation and Food Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 45-02-36-151-002.000-023 | Improvements Assessment | $2,218,465 CAD |
| Land Assessment | $178,857 CAD | Total Assessment | $2,397,322 CAD |
Property Taxes
Presented by
Drive-Thru BMO Harris Bank Retail Center | 25-33 E Sibley Blvd
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.