7310 Lincoln Hwy Crown Point, IN 46307

Property Details for 7310 Lincoln Hwy

Year built

2006

Lot size

2.09 lot acres

Property size

13,380 SF

Property type

Lifestyle centers

Property subtype

Power centers

APN

45-11-14-376-001.000-036

Description

This exceptional investment opportunity presents a 13,380-square-foot medical office building situated on a 2.09-acre lot in Crown Point, Indiana. The property, built in 2006, is currently 100% occupied under a triple-net (NNN) lease with Franciscan Physician Network, a credit-rated tenant with an "AA" Fitch rating. The lease, originally signed in June 2006, has a remaining term of approximately 1.9 years, encompassing two 5-year option periods previously exercised, demonstrating the tenant's long-term commitment. The building boasts a single story and features a prime location on West Lincoln Highway (US-30), a high-traffic thoroughfare with over 49,000 vehicles daily, offering excellent visibility and accessibility. The property generates a substantial net operating income (NOI) of $260,910, resulting in a compelling 9.50% cap rate. The asking price is $2,746,421, translating to $205 per square foot. This investment is further enhanced by its strategic location within the Chicago metropolitan area, benefiting from a large and growing population base. The property's strong tenant, long-term lease, and passive income stream make it an attractive addition to any portfolio. The property's APN is 45-11-14-376-001.000-036. This offering is suitable for a 1031 exchange.