$1,870,000
$2,000,000
6.5%For more information regarding the value of a property, please contact us for a free consultation.
1710-1790 W 81st AVE Merrillville, IN 46410
20,250 SqFt
Key Details
Sold Price $1,870,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 20,250 sqft
Price per Sqft $92
MLS Listing ID 540806
Sold Date 07/01/24
Year Built 1991
Annual Tax Amount $22,932
Tax Year 2022
Lot Size 2.340 Acres
Acres 2.34
Lot Dimensions 415 x 350
Property Sub-Type Retail
Property Description
FULLY LEASED, MULTI-TENANT, NNN Retail Auto Center with HIGH VISIBILITY on US-30 with long term NATIONAL BRAND TENANTS.This auto retail space includes a total of 20,250 square feet, 2.34 acres of land, 140 parking spaces, 3 national tenants, and great long term investment potential. Tenants include Mobility Works, AAMCO Transmissions, and Avis Budget Rental Car. Total rental income is $148,320. NNN income $54,977 annual. Annual Expenses are $52,956. Net Operating Income at $150,341.62. Cap rate of 7.51% with NNN Leases in place.Tenant Breakdown:1) Mobility Works - 11,200 Square Feet. $7,000/Month + NNN. Lease Ends 12/31/29.2) AAMCO - 4,500 Square Feet. $2,638.43/Month + NNN. Lease Ends 5/1/24.3) Avis Budget Rental - 4,500 Square Feet.2,545.67/Month + NNN. Lease Ends 7/31/25.
Location
State IN
County Lake
Interior
Interior Features Elevator
Heating Forced Air
Fireplace N
Exterior
View Y/N true
View true
Others
Tax ID 451220277008000030
Acceptable Financing NRA20240111124045722172000000
Listing Terms NRA20240111124045722172000000
Financing Cash
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