Hobart Industrial Investment Property

152 S Illinois St Hobart, IN 46342

FOR SALE
Property Type:
Factory
Amount:
$599,000
Last Verified:
Nov 21, 2020

Highlights

  • 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

Description

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.

Building Size: 22257.0sq ft
Lot Size: 1.0 acres

Map of 152 S Illinois St, Hobart, IN, 46342

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.