2626 Central Ave Lake Station, IN 46405-2126
Property Lookup
Property profile & analytics
2626 Central Ave Lake Station, IN 46405-2126
- Retail space
- 10,920 SF
- 1.23 lot acres
Property ID
US31-3386376
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Family Dollar / Discount Store
Property Details for 2626 Central Ave
- Year built
- 2001
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.23 lot acres
- Property size
- 10,920 SF
- Zone code
- R33
- Property type
- Retail space
- APN
- 45-09-17-326-011.000-021
- APU
- 450917326011000021
Description
This Lake Station, Indiana Family Dollar presents a compelling investment opportunity. Boasting a 10,920 square foot building on .79 acres, this property features a 25.8-year Net Net lease with a corporate guarantee from Family Dollar, expiring December 31, 2026, with 2.1 years remaining. The property includes 40 parking spaces and benefits from a 6.62% cap rate and a pro-forma cap rate of 8.05%. The current NOI is $58,891, with a pro-forma NOI of $71,614. Recent improvements include new HVAC units (2020) and a newly paved parking lot (2022). The Family Dollar tenant completed extensive renovations in 2022, bringing the store to their current format. The asking price is $890,000, translating to $81.50 per square foot. Five five-year lease options exist, with rent bumps of 17% in Option #3 and 10% in Options #4-7. The vacant .79 acres offers significant redevelopment potential, valued at $50,000 based on comparable sales. The property's strategic location ensures high visibility and convenient access, contributing to the store's consistent success. Built in 2001, this property offers a blend of established income and future growth potential.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,755,000
- 6.5%
- $1,620,000
- 7%
- $1,505,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,211,000
- AI Estimate
- $1,466,000
Market price range: $396k - $1.31MMarket price range: $560k - $1.47M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lake Station
- County
- Lake
- State
- Indiana
- Longitude
- -87.2516
- Latitude
- 41.5729
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$28,161
$85,800
$710,300
$796,100
-
$85,800
$710,300
$796,100
