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6823-6837 Grand Ave
Hammond, IN 46323
Fully Occupied Strip Center in NW Indiana · Commerce de détail Propriété À vendre
Certaines informations ont été traduites automatiquement.
FAITS SAILLANTS DE L'INVESTISSEMENT
- 100% occupied retail center offered at a 9% CAP | +11% Cash on Cash return at the asking price, utilizing currently available financing
- The majority of leases feature above average annual rent increases
- Dense demographics with almost 200,000 people living within 5 miles of the property
- Rents are well below market | Grand Foods just extended their lease for 5 years at a significantly higher rent
- All tenants operate on uniquely strong NNN leases, reimbursing for RE Taxes, CAM, Insurance, Management and additional Administrative Fees
- Highly leasable space with mostly small footprints and shallow depth bay suites
RÉSUMÉ DE L'ANNONCE
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in an 11,850 square foot retail center located in Northwest
Indiana, within the Chicago MSA. The property is fully occupied with all tenants paying replaceable and, in most cases, below market rent. A new owner can
modernize the building’s appearance and mark rents to market in order to create value. Grand Foods, the anchor tenant, recently extended their lease
for 5 years and increased their base rent from $6 per square foot to $10 per square foot – with strong annual increases. The tenants also do not currently
have the benefit of option periods, which provides a new owner with additional flexibility.
All tenants operate on true NNN leases, reimbursing for their pro rata shareof Real Estate Taxes, CAM, Insurance, Management and Administrative Fees.
The tenants are synergistic in nature, and the suite sizes are uniformly small and compact, with the majority averaging at about 1,000 square feet. This is a
parking lot that appears to consistently stay busy.
The demographics surrounding the property are dense, with close to 200,000 people living within a 5-mile radius. The property is also a stone’s throw from
Morton High School, with a student body of 1,500. The tenants benefit from prominent pylon signage, as well as unrestricted ingress and egress from the
property’s access points. The site is adjacent to an Autozone and kitty corner to a Save-a-Lot Grocery anchored retail center.
Priced at a 9.00% percent CAP rate and a price per square foot of $143, this is an opportunity to purchase a high-yield retail opportunity with landlord
friendly NNN leases and room to grow the NOI over the near-term.
Indiana, within the Chicago MSA. The property is fully occupied with all tenants paying replaceable and, in most cases, below market rent. A new owner can
modernize the building’s appearance and mark rents to market in order to create value. Grand Foods, the anchor tenant, recently extended their lease
for 5 years and increased their base rent from $6 per square foot to $10 per square foot – with strong annual increases. The tenants also do not currently
have the benefit of option periods, which provides a new owner with additional flexibility.
All tenants operate on true NNN leases, reimbursing for their pro rata shareof Real Estate Taxes, CAM, Insurance, Management and Administrative Fees.
The tenants are synergistic in nature, and the suite sizes are uniformly small and compact, with the majority averaging at about 1,000 square feet. This is a
parking lot that appears to consistently stay busy.
The demographics surrounding the property are dense, with close to 200,000 people living within a 5-mile radius. The property is also a stone’s throw from
Morton High School, with a student body of 1,500. The tenants benefit from prominent pylon signage, as well as unrestricted ingress and egress from the
property’s access points. The site is adjacent to an Autozone and kitty corner to a Save-a-Lot Grocery anchored retail center.
Priced at a 9.00% percent CAP rate and a price per square foot of $143, this is an opportunity to purchase a high-yield retail opportunity with landlord
friendly NNN leases and room to grow the NOI over the near-term.
FAITS SUR LA PROPRIÉTÉ
Type de vente
Investissement pour loyer hypernet
Type de propriété
Commerce de détail
Sous-type de propriété
Boutique
Taille du bâtiment
11 850 pi²
Classe d’immeuble
C
Année de construction
1968
Prix
2 397 255 $ CAD
Prix par pi²
202,30 $ CAD
Taux de capitalisation
9%
Revenu net d’exploitation
215 678 $ CAD
Pourcentage loué
100%
Location
Multiples
Hauteur du bâtiment
1 étage
Coefficient d’occupation des sols de l’immeuble
0,32
Taille du lot
0,84 AC
Zonage
C-2
Stationnement
37 places (3,12 places par 1 000 pi² loué)
Façade
170’ sur Grand Ave
Impôts fonciers
| Numéro de lot | 45-07-10-253-004.000-023 | Évaluation des bâtiments | 467 306 $ CAD |
| Évaluation du terrain | 112 793 $ CAD | Évaluation totale | 580 099 $ CAD |
Impôts fonciers
Numéro de lot
45-07-10-253-004.000-023
Évaluation du terrain
112 793 $ CAD
Évaluation des bâtiments
467 306 $ CAD
Évaluation totale
580 099 $ CAD
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