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7890 Broadway
Merrillville, IN 46410
Liberty Square Retail · Retail Property For Sale
Executive Summary
eXp Commercial is pleased to present the opportunity to acquire Liberty Square Shopping Center - a 48,327 square foot multi-tenant retail center located on Broadway (SR 53) in Merrillville, Indiana. The property delivers an 8.42% in-place cap rate with significant value-add upside through lease-up of 6,372 SF of vacant space and mark-to-market rent adjustments.
The center features 22 executed leases across diverse retail categories including dental, wellness, beauty, food service, and specialty retail. Recent capital improvements include new TPO roofs (~2021) and new rooftop HVAC units (RTUs) across both buildings, minimizing near-term capital expenditure requirements.
Situated on NW Indiana's primary retail corridor with 35,000+ vehicles per day, Liberty Square benefits from proximity to I-65, US-30, and Southlake Mall. The Merrillville trade area serves as the commercial capital of Northwest Indiana with strong demographics and sustained demand for retail space.
The center features 22 executed leases across diverse retail categories including dental, wellness, beauty, food service, and specialty retail. Recent capital improvements include new TPO roofs (~2021) and new rooftop HVAC units (RTUs) across both buildings, minimizing near-term capital expenditure requirements.
Situated on NW Indiana's primary retail corridor with 35,000+ vehicles per day, Liberty Square benefits from proximity to I-65, US-30, and Southlake Mall. The Merrillville trade area serves as the commercial capital of Northwest Indiana with strong demographics and sustained demand for retail space.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
48,327 SF
Building Class
B
Year Built
1976
Price
$7,548,640 CAD
Price Per SF
$156.20 CAD
Cap Rate
8.69%
NOI
$655,977 CAD
Percent Leased
77%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Lot Size
2.30 AC
Zoning
C-2 - commercial / retail
Parking
105 Spaces (2.17 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signalized Intersection
Property Taxes
| Parcel Number | 45-12-21-226-028.000-030 | Improvements Assessment | $435,900 CAD |
| Land Assessment | $833,644 CAD | Total Assessment | $1,269,544 CAD |
Property Taxes
Parcel Number
45-12-21-226-028.000-030
Land Assessment
$833,644 CAD
Improvements Assessment
$435,900 CAD
Total Assessment
$1,269,544 CAD
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