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    904 Old Ridge Rd Hobart, IN 46342

    For Sale
    $425,000

    Prime Hobart Office, High Visibility

    Property size:
    7,110 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This single-story, 7,110 square foot Class B office building in Hobart, Indiana presents a compelling value-add or owner-user opportunity. Located at 904 W Old Ridge Rd, this property boasts excellent visibility directly across from Strack & Van Til, offering significant foot traffic and brand recognition. The building, constructed in 1964, features two tenants currently occupying 36% of the space, with suites ranging from 620 to 2,950 square feet, providing flexibility for various business needs. A recently installed roof ensures long-term maintenance savings. The property sits on a 0.47-acre lot (APN: 45-09-30-332-024.000-018) and benefits from ample parking and prominent pylon signage on W Old Ridge Rd. Its convenient location, just two miles from I-65, provides easy access to major transportation routes. The building is zoned OS-1 and offers a strong potential for increased occupancy and rental income. The asking price is $425,000, translating to $59.77 per square foot. This presents a rare opportunity to acquire a well-maintained commercial property in a thriving location within the Chicagoland Metropolitan Area. The property's location at the corner of W Old Ridge Road and N California St provides exceptional exposure. This is an ideal investment for those seeking a strong return on investment in a high-traffic area.

    Property Features for 904 Old Ridge Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    7,110 SF
    Class
    B
    Lot Size
    20,473 SF

    Building Details

    Year Built
    1964
    Buildings
    1
    Stories
    1

    HighLights

    • Immaculately maintained building.
    • Across the street from Strack & Van Til grocery store.
    • Convenient I‑65 access.
    • Prominent pylon signage on W Old Ridge Rd.
    • Extensive parking available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vinzant Inc Software Company Trinity Solutions Security System Supplier Bridges To Learning Christian School

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hobart
    County
    Lake
    State
    Indiana
    Longitude
    -87.2710547
    Latitude
    41.5400026

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Hobart Office, High Visibility
    Where is this office property / space located?
    The property is located at 904 Old Ridge Rd Hobart, IN.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Immaculately maintained building.; Across the street from Strack & Van Til grocery store.; Convenient I-65 access.
    (219) 864-0200
    Request Owner's contact information
    904 Old Ridge Rd Hobart, IN 46342
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    904 Old Ridge Rd Hobart, IN 46342
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