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7895 Broadway Street - Chapel Plaza, Merrillville, IN

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DetailMap
7895 Broadway Street - Chapel Plaza

Merrillville, IN 46410 - Indiana Submarket


Property Type:Office Sub Type:Medical Status:Existing Year Built:1975
Stories:1 Typical Floor:35,983 SF Building Size:35,983 SF
% Leased:
For Sale Price:$2,975,000 Price/SF:$82.68
Cap Rate:-
Smallest Space:900 SF Largest Space:2,800 SF Total Space Avail:6,136 SF Rent/SF/Yr:
$15.50
Parking:140 Surface spaces are available; Ratio of 6.2/1,000 SF


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 1st
1,330 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
 1st
2,800 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
 1st
1,106 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
 1st
900 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
 
9872600
10048949
11186497
9100453


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
1st
1,330 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
1st
2,800 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
1st
1,106 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
1st
900 SF
$15.50/SF/Yr
Vacant
Negotiable
Office
All tenants have Pylon signage on Broadway, ample parking.

Sale Notes:
The Chapel Plaza Office Park is comprised of one multi-tenant medical office building at 100 percent occupancy, and two multi-tenant professional office buildings for a blended portfolio occupancy of 83 percent. The subject properties offer a very diverse tenant mix including; a community dental and community orthodontics offices, a sleep clinic, the
U.S. Representative Peter Vilosky's (Dem) offices, and local attorney's offices, along with other community driven
tenants.

The Chapel Plaza Office Park is an excellent bite-sized deal opportunity for both local and regional investors, as after years of being self-leased and self-managed by a private investor the subject property is offered at 83 percent occupancy, offering considerable upside by back-filling the current vacancies, increasing a few current tenant's rent to market rates,
potential conversion to market-supported NNN rates, and by charging for signage income along State Road 53.

Marcus & Millichap Inc
Joseph DiSalvo
(317) 218-5334

Alexander Nulf
(317) 218-5331

Tyler Shirley
(317) 218-5300


First Location
Troyanne Libassi
(219) 738-3233



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