Street Retail Building with
1500 West 37th Avenue Hobart, IN 46342
New
1500 West 37th Avenue, Hobart, IN, 46342
$495,000
For Sale
$495,000
Retail building with a drive-in door, adjacent gravel lot option, and 18 paved parking spaces.
Property Size2,400 SF
Price / SF$206.25
Days on Market3
Property Features for 1500 West 37th Avenue
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Retail
Listing Agency
Premier Commercial Real Estate Services
(260) 444-7194
Listed by
Steve Monnot
(260) 444-7194
Source
Tcnworldwide
Added: Jul 19 Updated: Jul 20 at 2:29 am Checked: Jul 20 at 2:29 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Premier Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This sale offering is for a 2,400 SF storefront building suited for retail or street retail use. The property includes a drive-in door previously used for auto detailing and features on-site parking.
The site also includes an adjacent gravel lot with a build-to-suit option, along with 18 paved parking spaces. A billboard lease is in place, providing an additional income component.
The property is structured as an NNN listing.
The site also includes an adjacent gravel lot with a build-to-suit option, along with 18 paved parking spaces. A billboard lease is in place, providing an additional income component.
The property is structured as an NNN listing.
Key Highlights
- 2,400 SF retail building offered at $495,000; available for lease at $18/SF NNN
- Drive‑in door previously used for auto detailing
- Adjacent gravel lot with build‑to‑suit option
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.6k | $14.40 |
| − Vacancy | −$1.5k | −$0.63 |
| EGI | $33.0k | $13.77 |
| − OpEx | −$9.9k | −$4.13 |
| NOI | $23.1k | $9.64 |
2,400 SF · lease $14.40/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$330.4K
$289.1K – $385.5K
NOI $23,128 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$670.0K
$586.2K – $781.7K
NOI $46,899 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
Similar Off Market Nearby
- Bryan's Florist — 1331 W 37th Ave, Hobart, IN 46342
FAQs
What type of property is this?
Storefront property - Retail building with a drive-in door, adjacent gravel lot option, and 18 paved parking spaces.
Where is this storefront property located?
The property is located at 1500 West 37th Avenue Hobart, IN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,400 SF retail building offered at $495,000; available for lease at $18/SF NNN; Drive‑in door previously used for auto detailing; Adjacent gravel lot with build‑to‑suit option
