11456 Broadway Crown Point, IN 46307

Property Details for 11456 Broadway

Year built

2006

Lot size

0.42 lot acres

Property size

13,200 SF

Property type

Office Properties & Spaces

Property subtype

Medical offices

Description

This 13,200 square foot, single-story Class B medical office building in Crown Point, Indiana, presents a compelling investment opportunity. Built in 2006 and situated on a 0.42-acre lot, the property boasts a 100% occupancy rate with a long-term, absolute triple-net (NNN) lease in place. The lease, commencing May 6, 2014, and expiring May 5, 2029, features a remaining term of 4.5 years and includes annual rent bumps of 2.5%. The tenant, a regional physician group with multiple Indiana locations, occupies the entire space. The building, part of a four-building medical condominium park, features two procedure rooms, four patient recovery bays, and ample parking (60 spaces per 1,000 sq ft). The property enjoys excellent visibility from Broadway, a major commercial thoroughfare. The current Net Operating Income (NOI) is $505,317, and the pro-forma NOI is also $505,317. The property's location within the Chicago MSA adds significant value. The permitted zoning is B-2. The property is owned by American Healthcare, REIT. This is a single-tenant, low-maintenance investment with a strong, stable income stream. The property's location in a thriving medical market, combined with the long-term lease and built-in rent increases, makes it an attractive addition to any portfolio.

Location Insight

City

Crown Point

County

Lake

State

Indiana

Longitude

-87.3215

Latitude

41.3902