4 W 81st Ave - Freestanding FOR SALE


Merrillville, IN 46410
$6,906,000 USD
630-570-2238
4 W 81st Ave, Merrillville, IN for Sale
$6,906,000 USD
Freestanding - FOR SALE
1/11
null | 7.5% Cap Rate

4 W 81st Ave
Merrillville, IN 46410


HIGHLIGHTS

  • NNN Walter E. Smithe with 10.5-years of term remaining
  • Build-to-suit building with a tenant that has operated at this location for 20 years and just executed a 10-year extension
  • Corporately guaranteed by Walter E. Smithe Furniture, Inc
  • 0.6 miles from on/off ramp of Interstate-65, which sees 103,876 vehicles per day
  • Located in a major retail corridor | Surrounded by top ranked retailers and shopping centers
  • From 2010-2020, the population grew 9.47 percent and is expected to grow an additional 1.77 percent by 2029 within a one-mile radius

OVERVIEW

Walter E. Smithe is secured by a NNN lease with 10.5 years of term remaining and a corporate guarantee. The lease includes 1, 10-year renewal option and scheduled rental increases. The tenant has operated at this location since 2005, demonstrating long-term commitment to the site. Positioned at the signalized intersection of U.S. Hwy 30 and Broadway Street (89,101 VPD) near Interstate-65 (103,876 VPD), the property benefits from exceptional visibility and heavy traffic counts. The site is located within a major retail corridor surrounded by top-performing national retailers including Meijer (3rd most visited in IN), Costco (2nd most visited in IN), and Southlake Mall (4th most visited mall in IN), along with numerous auto dealerships and 23 nearby hotels. The property serves a dense and affluent trade area, with over 38,000 residents and 52,000 daytime employees within three miles, and average household incomes of $91,494 within five miles.

FOR SALE DETAILS

PRICE

$6,906,000 USD

PRICE/SF

$180 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walter E. Smithe

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.34 AC

LAND SF

58,370 SF

ZONING

C-3

APN/PARCEL ID

45-12-21-277-021.000-030

ASK ABOUT THIS PROPERTY

Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2238

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Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2238

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.