Industrial Gem Class B Available

Industrial for Sale
Catylist Listing ID: 30808388
Property Subtypes: Cold Storage, Food Processing, Free-Standing, Industrial-Business Park, Manufacturing, Light Industrial, Office Showroom, Research & Development, Warehouse/Distribution
Building Size (RSF): 64,972 SF
Gross Land Area: 4.92 Acres
Sale Price: See Agent
Ceiling: 22 ft. / 24 ft. Clear
Docks/Doors: 4 Doors
Office SF: 14,972 SF
Drive In Bays: 1 Bay
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: 8.7%
Average Occupancy Rate: 100
Last Updated: 7/21/2022

Overview / Comments

LOCATION - LOCATION- LOCATION! This is an INCOME PRODUCING (8.7 CAP) gem of an industrial property located in a highly desired commercial district in Highland, IN. This is a 64,972 sf facility with open and gated parking. Ceiling heights are 20' ft - 24' at the peak. The property has plenty of office space, cafeteria, washrooms, dispatch area, a cold storage facility, truck bays, loading docs x 2, and in a 5.72 (approx) acre site. There is potential for a rail-spur as the Canadian Railway runs parallel to the property. This is the ONLY Industrial Park remaining in the area right off US 41/Indianapolis Blvd and within 27 miles. Great property for owner/occupied or investment-oriented buyers with huge upside.
The warehouse area consists of approximately 50,000. Has 6-grade level service doors, and 15 offices with lobby area, boardroom, 3Phase power, 480-volt system.
Wet Sprinkler system.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $42,740 (Annual)
Tax Value Land $467,600
Tax Value Improvements $1,322,600
Assessed Value - Total($) $1,790,200 (Annual)
Finance Data Year 2013
Real Estate Taxes - Annual($) $43,819 (Annual)
Tax Value Land $467,600
Tax Value Improvements $1,417,400
Assessed Value - Total($) $1,885,000 (Annual)
Finance Data Year 2011
Real Estate Taxes - Annual($) $50,965 (Annual)
Tax Value Land $467,600
Tax Value Improvements $1,405,800
Assessed Value - Total($) $1,873,400 (Annual)
Finance Data Year 2010
Real Estate Taxes - Annual($) $45,472 (Annual)
Tax Value Land $467,600
Tax Value Improvements $1,388,500
Assessed Value - Total($) $1,856,100 (Annual)

Additional Details

Nearest MSA: Chicago-Joliet-Naperville
County: Lake
Tax ID/APN: 45-07-33-102-010.000-026
Zoning: LIGHT INDUSTRIAL PARK
Property Located Between: Indianapolis Boulevard and 45th Avenue
Highway Access: US 41; I-90; I-94; I-80 and I-394
Airports: Gary Int'l Airport; Lansing Municipal Airport, and Griffith Municipal Airport.
Site Description: This site consists of approximately 5.72 acre property, fenced with private parking and open parking. The site has quick in-out access off main Highway US 41. This is one of the remaining and much desired Light Industrial Parks in NW Indiana.
Area Description: The site is a much desired Light Industrial Park adjacent to the busiest commercial district in NW Indiana abutting Munster, Highland, and Schererville.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 64,972 SF
Property Condition: Good
Year Built: 1979
Year Renovated: 2013
Roof Type: Flat
Construction/Siding: Brick, Brick/Aluminum Siding
Exterior Description: Exterior is composed of brick throughout the offices area and combination of metal sheeting enveloping the property. Property is paved, gated, has trees and front or rear entrance/egress.
Parking Type: Surface
Parking Description: Open parking/customer parking consists of 30 spaces while gated parking has 34 spaces.
Total Parking Spaces: 64
Overhead Cranes: Undisclosed
Sprinklers: Wet
Volts: 4
X-Phase: 3 Phase
Heat Type: Electricity, Natural Gas, Hot Water
Heat Source: Central
Air Conditioning: Engineered System, Evaporative Cooler
Lighting: LED, Fluorescent
Internet Access: DSL, T1/T3
Interior Description: The layout has approximately 16-20 offices with front reception cubicles, private offices, bathrooms, boardroom, training center, divided into 2 separate office/layout areas, and a cafeteria/lounge room fully equiped.
Zoning Description: Light Industrial/ Commercial Warehouse
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities, Other
Easements Description: Utilities and Antena
Land Ownership: Fee Simple
Legal Description: PT. W2. NW.1-4 S.33 T.36 R.9 4.92AC.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,641 93,667 241,460
Median Age: 43.34 40.95 38.29
Households: 6,192 37,228 92,335

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