Manufacturing/Distribution Warehouse with Rail
For Sale
Contact for pricing
24 Marble St, Hammond, IN 46327
New manufacturing, distribution, and warehouse facility on the Indiana/Illinois border with rail access via Indiana Harbor Belt Railroad.
Property Size399,000 SF
Price / SF$105.26
Days on Market740
Property Features for 24 Marble St
General Information
Standard status
Active
Size
399,000 SF
Total Parking Spaces
166
Property subtype
INDUSTRIAL
Warehouse & Industrial
Dock-High Doors
20
Rail Access
Yes
Building Details
Year Built
2023
Building Size
399,000 SF
Listing Agency:
JLL | Indianapolis
(317) 810-7000
Listed By:
Robert L. Horn · License #6502399932
(616) 649-3533
Source:
Moodyscre
Added: Oct 23, 2024
Changed: Oct 25
Last Checked: Oct 30 at 4:10PM
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 JLL | Indianapolis
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Investment Insights
Based on property information with market context.
Brand new in 2023, this 399,000 SF manufacturing/distribution/warehouse facility is positioned directly along the Indiana/Illinois border in Northwest Indiana. The building offers rail access to all Call 1 railroads via the Indiana Harbor Belt Railroad, supporting logistics-oriented operations.
The property has parking for 166 surface-level spaces and includes loading improvements with 20 docks and two (2) overhead doors. On-site zoning is described as accommodating for virtually any user, and several local economic incentives are noted in addition to Indiana’s business climate. A 10-year 100% property tax abatement is also in place.
With rail connectivity, substantial loading capacity, and a flexible zoning framework, the facility is set up to support a wide range of manufacturing and distribution uses.
The property has parking for 166 surface-level spaces and includes loading improvements with 20 docks and two (2) overhead doors. On-site zoning is described as accommodating for virtually any user, and several local economic incentives are noted in addition to Indiana’s business climate. A 10-year 100% property tax abatement is also in place.
With rail connectivity, substantial loading capacity, and a flexible zoning framework, the facility is set up to support a wide range of manufacturing and distribution uses.
Key Highlights
- 399,000 SF brand new (2023) manufacturing/distribution/warehouse facility
- Rail access to Call 1 railroads via Indiana Harbor Belt Railroad
- 20 docks plus two (2) overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,810,820
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$56,216,400
$56.2M
Cap Rate 7%
$40,154,571
$40.2M
Cap Rate 9%
$31,231,333
$31.2M
Market Conditions
NOI Build-Up for 399,000 SF
Gross rent
$3.50M $8.76/SF
− Vacancy
−$188.4K −$0.47/SF
EGI
$3.31M $8.29/SF
− OpEx
−$496.0K −$1.24/SF
NOI
$2.81M $7.04/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$56,216,400
Cap Rate 7%
$40,154,571
Cap Rate 9%
$31,231,333
Alternative Uses
Best Use
Warehouse
$40.15M
$35.14M – $46.85M
NOI $2,810,820 @ 7.0% cap · market cap 6.69%
Second Best
Industrial
$33.07M
$28.93M – $38.58M
NOI $2,314,793 @ 7.0% cap · market cap 5.51%
Theoretical Best
Specialty Retail
$111.39M
$97.46M – $129.95M
NOI $7,796,959 @ 7.0% cap · market cap 18.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20
Dock-high doors
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
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Business Placement
Demographics for 46327, IN
11,078
Population
4,389
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
77%
High-School Grad
4.6 sq mi
ZIP Area
2,408
Density / Sq Mi
$50,457
Median Household Income
$30,939
Median Earnings
$1,133
Median Rent
$116,900
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Manufacturing property - New manufacturing, distribution, and warehouse facility on the Indiana/Illinois border with rail access via Indiana Harbor Belt Railroad.
Where is this manufacturing property located?
The property is located at 24 Marble St Hammond, IN.
What is the asking price?
The asking price for this property is $42,000,000.
What are key features of this property?
This property features: 399,000 SF brand new (2023) manufacturing/distribution/warehouse facility; Rail access to Call 1 railroads via Indiana Harbor Belt Railroad; 20 docks plus two (2) overhead doors
