STREET RETAIL WITH OVERHEAD DOORS ON 5 ACRES

Retail-Commercial for Sale
Catylist Listing ID: 30814800
Property Subtypes: Free-Standing Building, Garden Center, Mixed Use, Street Retail, Vehicle Related, Other
Building Size (RSF): 13,902 SF
Gross Building Area: See Agent
Sale Price: $975,000
Unit Price: $70.13 PSF
Ceiling: 14 ft.
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/20/2023

Overview / Comments

This is a unique property in which the buyer can occupy the whole building or lease part of it out. Additional land can be divided and sold or easily enough room to construct 3 more buildings. This is a 13,902 SF brick and concrete block building with fenced yard and a residential house that currently sits on 5.54 acres. The building currently has 2 month to month tenants who will vacate upon the sale of the building and it can be transformed into a single tenant or keep as multi tenant.
Unit 1 interior features: 5,641 SF with 2 offices, 2 bathrooms, warehouse with LED motion detected lights, 14; clear ceiling 2-12'x12' OHD's, mezzanine storage and fenced outer area for parking and or large equipment.
Unit 2 interior features: 5,641 SF with 4 private offices, waiting room, 2 bathrooms, open warehouse with 14' clear height, 1,200 SF mezzanine storage area and 2-12'x12' OHD's.
Unit 3 interior features: 2,620 SF office/showroom equipped with central air/heat, kitchen, finished storage area/warehouse and 2 bathrooms.
All units are separately metered gas/electric, 200 amp, 3 phase service. Currently there is a concrete base and electric in place for up to a 30’ high pylon sign on Merrillville Road on the northside of 82nd Place. This property is on the public transportation bus route stopping at Meijer Grocery Store. Additional 6.94 +/- acres available thru assemblage with the adjoining on market lot asking $349,900 for sale to form 12.48 acres. 2021 INDOT traffic counts for Merrillville Road are 10,371 cars/day. The 2021 pay 2022 taxes for all 3 parcels are $17,468.94.

This property is located on the east side of Merrillville Road, two blocks south of U.S. 30 in the Town of Merrillville. Merrillville Road is a street that connects from Madison Street about two blocks north of the property to Indiana Avenue in Crown Point about 2 miles south.

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Lake
Tax ID/APN: 45-12-21-402-008.000-030
Property Located Between: Broadway/Merrillville Road
Property Visibility: Excellent
Largest Nearby Street: US Highway 30
Highway Access: I-65, U.S. Highway 30,
Airports: Midway/O'Hare/Gary/South Bend
Total Number of Buildings: 2
Property Condition: Good
Roof Type: Flat
Construction/Siding: Block, Concrete
Parking Type: Surface

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,695 42,608 126,171
Median Age: 41.65 37.76 37.98
Households: 3,535 16,543 47,875

Contact

© Copyright 2001-2023 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Indiana Commercial Board of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.