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Indian Hills Center

350 Indian Boundary Rd, Chesterton, IN 46304

Listing Price: $1,600,000

Cap Rate
8.40%
Gross SF
12,818
Rentable SF
12,818
Price/Gross SF
$124.82
Lot Size
1.15 acres
Year Built
1989

Investment Overview

Marcus & Millichap is proud to present this 12,818 Square Foot Center Anchored Midwest Eye Consultants, a Rapidly Growing 45 Unit Optometrist and Ophthalmologist Company Founded in 1978 that Just Extended its Lease to July 2029.? 98% Occupied with a Complimentary Mix of Medical, Service and Retail Tenants.? Opportunity to Increase the NOI by Converting 46% of Leases to Full NNN.? The landlord has been converting leases to NNN over time, making it an easier transition.? Indian Hills Center offers Excellent Frontage and Large Pylon Sign on Indian Boundary Rd – Main Retail Artery | Just off IN-49 with 24,600+ Vehicles per Day | ½ Mile South of I-94 Interchange with 50,900+ Vehicles per Day.? It is located where the Average Household Income Exceeds $94,000 within 5 Miles.? Midwest Eye Consultants Just Expanded by 929 Square Feet to Meet the Growing Demand and Has Occupied Since 2011 | Lemon Tree Grill – Tenant Since 2012 Just Extended to 2026.?

Investment Highlights

  • 12,818 Square Foot Center Anchored by Midwest Eye Consultants – Rapidly Growing 45 Unit Optometrist and Ophthalmologist Company Founded in 1978 – Just Extended Lease to July 2029
  • Excellent Frontage and Large Pylon Sign on Indian Boundary Rd – Main Retail Artery | Just off IN-49 with 24,600+ Vehicles per Day | ½ Mile South of I-94 Interchange with 50,900+ Vehicles per Day
  • Located 45 Miles from Downtown Chicago – Third Largest Metro in the U.S. | Average Household Income Exceeds $94,000 within 5 Miles
  • 98% Occupied with a Complimentary Mix of Medical, Service and Retail Tenants that Performed Well During Covid | Increase the NOI by Converting 46% of Leases to Full NNN

Exclusively Listed By

Financing By

Listing Price: $1,600,000

Cap Rate
8.40%
Gross SF
12,818
Rentable SF
12,818
Price/Gross SF
$124.82
Lot Size
1.15 acres
Year Built
1989

Investment Highlights

  • 12,818 Square Foot Center Anchored by Midwest Eye Consultants – Rapidly Growing 45 Unit Optometrist and Ophthalmologist Company Founded in 1978 – Just Extended Lease to July 2029
  • Excellent Frontage and Large Pylon Sign on Indian Boundary Rd – Main Retail Artery | Just off IN-49 with 24,600+ Vehicles per Day | ½ Mile South of I-94 Interchange with 50,900+ Vehicles per Day
  • Located 45 Miles from Downtown Chicago – Third Largest Metro in the U.S. | Average Household Income Exceeds $94,000 within 5 Miles
  • 98% Occupied with a Complimentary Mix of Medical, Service and Retail Tenants that Performed Well During Covid | Increase the NOI by Converting 46% of Leases to Full NNN

Investment Overview

Marcus & Millichap is proud to present this 12,818 Square Foot Center Anchored Midwest Eye Consultants, a Rapidly Growing 45 Unit Optometrist and Ophthalmologist Company Founded in 1978 that Just Extended its Lease to July 2029.? 98% Occupied with a Complimentary Mix of Medical, Service and Retail Tenants.? Opportunity to Increase the NOI by Converting 46% of Leases to Full NNN.? The landlord has been converting leases to NNN over time, making it an easier transition.? Indian Hills Center offers Excellent Frontage and Large Pylon Sign on Indian Boundary Rd – Main Retail Artery | Just off IN-49 with 24,600+ Vehicles per Day | ½ Mile South of I-94 Interchange with 50,900+ Vehicles per Day.? It is located where the Average Household Income Exceeds $94,000 within 5 Miles.? Midwest Eye Consultants Just Expanded by 929 Square Feet to Meet the Growing Demand and Has Occupied Since 2011 | Lemon Tree Grill – Tenant Since 2012 Just Extended to 2026.?

Exclusively Listed By

Financing By

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