Leased Warehouse
For Sale
$1,500,000
4027 W Ridge Rd, Gary, IN 46408
Single-tenant warehouse currently 100% leased with 24 months remaining and two additional two-year renewal options.
Property Size9,600 SF
Days on Market206
Property Features for 4027 W Ridge Rd
General Information
Standard status
Active
Size
9,600 SF
Property subtype
Industrial
Occupancy
100%
Building Details
Building Size
9,600 SF
Year Built
2019
Listing Agency:
Latitude Commercial
Listed By:
Milo Trkulja · License #IL #475.218043
(219) 306-3728
Source:
Latitudeco
Added: Apr 1
Changed: Oct 21
Last Checked: Oct 23 at 4:09AM
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.
This property is a warehouse that is 100% leased to a single tenant, with 24 months remaining on the current lease term. The tenant has two renewal options, each providing an additional two years. Under the lease structure, the tenant covers utilities, maintenance, and insurance, while the landlord covers real estate taxes.
The offering is positioned as a straightforward, income-producing warehouse asset with an active lease in place.
The offering is positioned as a straightforward, income-producing warehouse asset with an active lease in place.
Key Highlights
- Single‑tenant warehouse built in 2019
- Currently 100% leased with 24 months remaining on the lease
- Tenant has two renewal options for 2 years each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,629
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,352,580
$1.4M
Cap Rate 7%
$966,129
$966.1K
Cap Rate 9%
$751,433
$751.4K
Market Conditions
NOI Build-Up for 9,600 SF
Gross rent
$84.1K $8.76/SF
− Vacancy
−$4.5K −$0.47/SF
EGI
$79.6K $8.29/SF
− OpEx
−$11.9K −$1.24/SF
NOI
$67.6K $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%
$1,352,580
Cap Rate 7%
$966,129
Cap Rate 9%
$751,433
Alternative Uses
Best Use
Warehouse
$966.1K
$845.4K – $1.13M
NOI $67,629 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.68M
$2.34M – $3.13M
NOI $187,596 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46408, IN
15,109
Population
7,861
Households
1.9
Avg Household Size
38
Median Age
12%
College-Educated
84%
High-School Grad
9.7 sq mi
ZIP Area
1,558
Density / Sq Mi
$47,063
Median Household Income
$35,163
Median Earnings
$1,016
Median Rent
$96,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Gary RV and Boat Storage — 3650 W Ridge Rd, Gary, IN 46408
Frequently Asked Questions
What type of property is this?
Warehouse - Single-tenant warehouse currently 100% leased with 24 months remaining and two additional two-year renewal options.
Where is this warehouse located?
The property is located at 4027 W Ridge Rd Gary, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Single‑tenant warehouse built in 2019; Currently 100% leased with 24 months remaining on the lease; Tenant has two renewal options for 2 years each
