7904 Cabela Dr, Hammond, IN 46324-2950

This exceptional Class A medical office building, totaling 17,940 square feet, is a single-tenant, absolute NNN net lease property located in Hammond, Indiana. The building, constructed in 2019, houses a 14-bed Northwest Indiana ER & Hospital operated by Nutex Health. The 20-year lease, commencing May 6, 2020, and expiring May 5, 2040, has a remaining term of 15.5 years and includes three 5-year options. Annual rent increases are the greater of CPI or 2.5%. The property boasts a strong 8.50% cap rate and a Net Operating Income (NOI) of $1,182,452. Strategically situated at the intersection of US Highway 41 and Interstate 94, the hospital enjoys exceptional regional access and benefits from its location in a dense retail corridor near major retailers and new residential developments. Serving a population of approximately 500,000 in Lake County, Indiana (the second-largest county in the state), and within easy reach of the Chicago metropolitan area, this investment offers significant long-term potential. The hospital features advanced imaging equipment (MRI, X-ray, ultrasound, and CT scan), eight ER beds, and six inpatient beds. The building is fee simple ownership. Lake County's economic growth and the ongoing development in Hammond further enhance the property's value.