Hobart Industrial Investment Property
152 S Illinois St
Hobart, IN 46342
- 9.65% Cap Rate
- Business around since 1969
- Company is part of 3 company conglomerate
- Less than $23/SF
- 9 years of term remaining
- NNN lease by Coil Tran
- Value-Add by leasing of additional space
Sale of a solid investment property located in Hobart, IN. Nearly a 10% cap rate for a company in business since 1969. Property priced well below replacement cost and offers upside opportunity for investors to lease out additional space in building next door. New 10-year lease executed by tenant in April, 2019. Anchor tenants pays their proportionate share of taxes and insurance.
The property is located in Downtown Hobart near the city center. Hobart is a city in Lake County, Indiana, United States. The population was 29,059 at the 2010 census. Although it has been historically primarily residential, recent annexation has added a significant retail corridor to the city. Hobart is home to many thriving businesses in its downtown shopping district, including the historic Art Theatre. Hobart is also home to the Westfield Southlake Shopping Mall and many surrounding retailers and restaurants.