Griffith Retail Center on
For Sale
Contact for pricing
1815-1955 W Glen Park Ave, Griffith, IN 46319
Highly visible retail center with strong tenant mix.
Property Size40,390 SF
Days on Market192
Property Features for 1815-1955 W Glen Park Ave
General Information
Standard status
Active
Size
40,390 SF
Property subtype
Retail
Lease Term
NNN
Building Details
Building Size
40,390 SF
Year Built
1997
Properties For Sale
at 1815-1955 W Glen Park Ave Contact us1813
Size
2,000 SF
Term
Negotiable
1903
Size
2,340 SF
Term
Negotiable
1911
Size
1,000 SF
Type
Strip Center
Term
Negotiable
1915
Size
3,160 SF
Type
Strip Center
Term
Negotiable
Listing Agency:
Latitude Commercial
Listed By:
Brett McDermott, CCIM · License #IN #RB14050416
(219) 545-4328
Source:
Latitudeco
Added: Apr 8
Changed: Oct 6
Last Checked: Oct 16 at 7:12AM
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 Latitude Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Griffland Plaza is a retail center located on 45th Street (Glen Park Ave) in Griffith, Indiana, 3 miles east of Indianapolis Boulevard. The property benefits from high visibility and signage opportunities directly on 45th Street, which experiences high daily traffic counts. The location provides convenient access to 80/94 and Route 41, facilitating quick access to Chicago. The tenant mix includes Midwest Express, State Farm, Heights Finance, and Edward Jones. An endcap unit is available. Tenant Improvement Allowance is available.
Key Highlights
- High visibility location on 45th (Glen Park Ave) with signage opportunities and high daily traffic counts.
- Strong mix of national and local tenants, including Midwest Express, State Farm, Heights Finance, and Edward Jones.
- Quick access to Chicago via 80/94.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$389,217
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,784,340
$7.8M
Cap Rate 7%
$5,560,243
$5.6M
Cap Rate 9%
$4,324,633
$4.3M
Market Conditions
NOI Build-Up for 40,390 SF
Gross rent
$581.6K $14.40/SF
− Vacancy
−$25.6K −$0.63/SF
EGI
$556.0K $13.77/SF
− OpEx
−$166.8K −$4.13/SF
NOI
$389.2K $9.64/SF
Area
Lake County, IN
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,784,340
Cap Rate 7%
$5,560,243
Cap Rate 9%
$4,324,633
Alternative Uses
Best Use
Retail
$5.56M
$4.87M – $6.49M
NOI $389,217 @ 7.0% cap · market cap 2,162,316.67%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.28M
$9.87M – $13.15M
NOI $789,271 @ 7.0% cap · market cap 4,384,838.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
48k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 28%
Apparel 14%
Family Express
Shops & Services
14,926 visits/mo
0.1 miles
Dollar General
Shops & Services
10,529 visits/mo
0.2 miles
Burger King
Dining
7,096 visits/mo
0.2 miles
Goodwill
Apparel
6,756 visits/mo
0.1 miles
Dairy Queen
Dining
3,477 visits/mo
0.2 miles
Demographics for 46319, IN
18,108
Population
7,904
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
96%
High-School Grad
9.6 sq mi
ZIP Area
1,886
Density / Sq Mi
$75,976
Median Household Income
$42,239
Median Earnings
$1,162
Median Rent
$194,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Shopping center - Highly visible retail center with strong tenant mix.
Where is this shopping center located?
The property is located at 1815-1955 W Glen Park Ave Griffith, IN.
What are key features of this property?
This property features: High visibility location on 45th (Glen Park Ave) with signage opportunities and high daily traffic counts.; Strong mix of national and local tenants, including Midwest Express, State Farm, Heights Finance, and Edward Jones.; Quick access to Chicago via 80/94.
