SW Parcel Indianapolis Blvd and Summer St.
Hammond, IN
Retail for Sale - $300,000 - 7,450 Sq. Ft. on 0.75 acres
Property Info
CIMLS# | 918767 |
Location SW Parcel Indianapolis Blvd and Summer St. Hammond IN 46320 | |
Updated | February 1st, 2018 |
Type | Retail |
Price | $300,000 |
Building | 7,450 Sq. Ft. |
Land | 0.75 acres |
Property Description
Value-add real estate opportunity located On Indianapolis Blvd in Hammond, Indiana. This property consists of 2 long-term tenants with leases in place. All tenants are paying a below market rent for the location. All tenants have been in the building for 5+ years and one has been there for about 30.
Location Description:
This investment property is located on the southwest corner of Indianapolis Blvd and Summer St. in Hammond, IN. The property consists of 2 businesses. All tenants have been leasing the property for several years and the property is profitable.
Hammond is part of the Chicago metropolitan area. The population was 80,830 at the 2010 census, and is the most populous city in Lake County, Indiana.
Highlights:
>> Value-Add Investment Opportunity
>> Long-Term Tenants in place
>> 10.6% Cap Rate on the In-Place income
>> City of Hammond Facade Rebate Area
>> Close Proximity to 80/94 Indianapolis Blvd Interchange
>> Near new Potash facility
>> Near Redevelopment of Former Woodmar Mall into Youth Sports Complex
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Financials
Sales Info:
>> Cap rate: 9.4%
>> NOI: $53551