8700 Broadway - Office FOR SALE


Merrillville, IN 46410
$1,899,000 USD
219-545-2859
8700 Broadway, Merrillville, IN for Sale
$1,899,000 USD
Office - FOR SALE
1/8
null | Request Cap Rate

8700 Broadway
Merrillville, IN 46410


HIGHLIGHTS

  • 6-Year Lease offers long-term stability
  • Strong Stable Long-Term Tenant
  • Zoned C-5 Office and Research for versatile use
  • Prime location in Merrillville
  • 100% occupancy for immediate income
  • Well-maintained

OVERVIEW

The asset is a single tenant net leased property owned and leased by the Hodges & Davis Law Firm. The building is a well-built and maintained office building located in the heart of the Merrillville medical and general office market. The property is conveniently located within 5 minutes of the I-65/US 30 interchange and is located within close proximity to Northwest Indiana's largest retail trade area. There are two sub-tenants in the property currently. The building was a build to suit by the partners of the law firm in 1994 and they have occupied the building since. There is currently a sublease in place for 1,700 SF to Greater Indiana Title Company. The law firm was originally formed in 1906 by William F. Hodges and Claude V. Ridgely and originally located in Gary, Indiana. The firm changed its name to Hodges and Davis in 1927, after Herschel Davis, a preeminent lawyer, became a partner. The firm continued to grow, and in 1970 the practice moved to Merrillville, Indiana. Ten years later, a steadily growing client list led Hodges and Davis to open an office in Porter County. Throughout its history, the Hodges and Davis employee roster has included a President of the Indiana State Bar Association, a Colonel in the U.S. Air Force, a United States Attorney, an adjunct professor at Valparaiso University School of Law, and a Deputy Attorney General.

FOR SALE DETAILS

PRICE

$1,899,000 USD

PRICE/SF

$160 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hodges & Davis

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

C-5

APN/PARCEL ID

45-12-28-277-002.000-030

ASK ABOUT THIS PROPERTY

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219-545-2859

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219-545-2859

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