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1211-1231 Cumberland Ave
Valparaiso, IN 46383
UChicago Medical Anchored Retail Center · Commerce de détail Propriété À vendre
Certaines informations ont été traduites automatiquement.
Faits saillants de l'investissement
- Future padsite to a new construction Meijer grocery store
- University of Chicago Medical has investment grade credit (“AA-“ per Fitch) and backs 60% of the income
- All tenants struck new leases with only limited tenant improvement allowances
- Excellent med-tail tenant mix | High visibility, excellent accessibility
- United Farm Insurance is relocating from a neighboring pad and signed a 10-year lease
- Weighted average lease term of just over 5 years
Résumé de l'annonce
Marcus and Millichap is pleased to present the opportunity to purchase the fee simple interest in a 12,000 square foot, University of Chicago Medical Anchored
Retail Center located in Valparaiso, Indiana. The property will be shadow anchored by a new construction Meijer Grocery Store that is being built on the adjacent
plot of land. As part of the Cumberland Crossing development, the University of Chicago building is positioned in the middle of several other new and existing
retail properties, including 7 Brew, Chipotle, Burger King, Dairy Queen, Starbucks and the Valparaiso YMCA – the highest traffic YMCA in Indiana per Placer.AI.
The University of Chicago Medical’s credit is rated investment grade by Fitch, with a rating of AA-. Their credit backs over 60% of property’s income. United
Farm Insurance recently committed to a new 10-year lease. The one remaining space was recently leased to a physical therapist with two other existing practices.
The property’s siting relative to both the surrounding retail, as well as to Calumet Avenue, is optimal. Given the predominately medical tenancy, the immediate
accessibility of the property’s parking plays a key role in attracting this caliber of tenant type. Built in 2008, the building features Class A, masonry construction,
and was built to a higher visual and structural standard than the majority of comparable retail buildings. At the asking price, the price per square foot is only
$300, which is reflective of long-term upside potential as retail rents are expected to continue rising over at least the next 10 years.
Valparaiso is a mature community in Northwest Indiana but one that still features strong growth characteristics. With abundant housing development afoot,
national retailers continue to look for space to expand in Valparaiso. The city is also home to Valparaiso University and is located within the Chicago MSA.
This is an opportunity to purchase a fully occupied retail property at a favorable entry basis and cap rate. Located in a stable yet growing community, with
multiple ancillary traffic drivers triangulating the underlying real estate.
Retail Center located in Valparaiso, Indiana. The property will be shadow anchored by a new construction Meijer Grocery Store that is being built on the adjacent
plot of land. As part of the Cumberland Crossing development, the University of Chicago building is positioned in the middle of several other new and existing
retail properties, including 7 Brew, Chipotle, Burger King, Dairy Queen, Starbucks and the Valparaiso YMCA – the highest traffic YMCA in Indiana per Placer.AI.
The University of Chicago Medical’s credit is rated investment grade by Fitch, with a rating of AA-. Their credit backs over 60% of property’s income. United
Farm Insurance recently committed to a new 10-year lease. The one remaining space was recently leased to a physical therapist with two other existing practices.
The property’s siting relative to both the surrounding retail, as well as to Calumet Avenue, is optimal. Given the predominately medical tenancy, the immediate
accessibility of the property’s parking plays a key role in attracting this caliber of tenant type. Built in 2008, the building features Class A, masonry construction,
and was built to a higher visual and structural standard than the majority of comparable retail buildings. At the asking price, the price per square foot is only
$300, which is reflective of long-term upside potential as retail rents are expected to continue rising over at least the next 10 years.
Valparaiso is a mature community in Northwest Indiana but one that still features strong growth characteristics. With abundant housing development afoot,
national retailers continue to look for space to expand in Valparaiso. The city is also home to Valparaiso University and is located within the Chicago MSA.
This is an opportunity to purchase a fully occupied retail property at a favorable entry basis and cap rate. Located in a stable yet growing community, with
multiple ancillary traffic drivers triangulating the underlying real estate.
Faits sur la propriété
Type de vente
Investissement pour loyer hypernet
Type de propriété
Commerce de détail
Sous-type de propriété
Immeuble de commerce
Taille du bâtiment
12 091 pi²
Classe d’immeuble
B
Année de construction
2008
Prix
5 128 515 $ CAD
Prix par pi²
424,16 $ CAD
Taux de capitalisation
7,50%
Revenu net d’exploitation
384 575 $ CAD
Pourcentage loué
100%
Location
Multiples
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,59
Taille du lot
0,47 AC
Stationnement
35 places (2,89 places par 1 000 pi² loué)
Façade
225’ sur Calumet Ave
Commodités
- Voie de virage obligatoire
- Intersection avec signalisation
Impôts fonciers
| Numéro de lot | 64-10-07-351-017.000-004 | Évaluation des bâtiments | 3 317 565 $ CAD |
| Évaluation du terrain | 245 240 $ CAD | Évaluation totale | 3 562 805 $ CAD |
Impôts fonciers
Numéro de lot
64-10-07-351-017.000-004
Évaluation du terrain
245 240 $ CAD
Évaluation des bâtiments
3 317 565 $ CAD
Évaluation totale
3 562 805 $ CAD
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