108 N Broad Street, Griffith, IN 46319 (MLS# 487127)

108 N Broad Street, Griffith, IN 46319

$720,000

Property Type: Commercial Sale Square Footage: 9,005 Lot Size (sq. ft.): 12,632 Status: Closed

Current Price: $720,000 List Date: 1/12/2021 Last Modified: 6/19/2024

Overview

Description

This is a 3-unit, income producing property located in the heart of downtown Griffith. 2 units are fully leased and will provide great income to the new owner. The remaining unit is a vacant bar/grill (Arcade Bar) and includes all equipment, furniture, fixtures, liquor licenses (3-way liquor license PLUS catering License), vintage arcade games and much more. Large, fully equipped kitchen with unique pizza oven imported from Italy, huge refrigerator & 20 keg taps. Large bar and seating for 160+ people. Full interior & exterior security system in place, 2 bathrooms, extra storage areas and manager's office. Much of the building electric & HVAC has been installed new or updated since 2016. The property also comes with 18-owned parking spaces at the back of the building.

Listing Details MLS# 487127

General Property Information

Living Area: 9005
Building Area Source: Owner
Accessibility Features YN: Yes
Year Built: 1925
Lot Size Acres: 0.29
Lot Size Square Feet: 12632
Lot Size Dimensions: 86 x 110
Stories: Yes

Property Features

Building Features: Business District Location; Private Restrooms; Other Construction Materials: Block; Brick; Stone Cooling: Central Air Current Use: Commercial; Office; Retail Electric: 100 Amp Service; 150 Amp Service; 200+ Amp Service Flooring: Carpet; Tile Foundation Details: See Remarks Heating: Forced Air; Natural Gas Interior Features: Elevator Listing Terms: Cash; Conventional Parking Features: Paved; Private Possession: Close Of Escrow Possible Use: Commercial; Retail; Other Rail Availability: None Road Frontage Type: City Street Roof: Other Special Licenses: Liquor Tenant Pays: Gas Utilities: Cable Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Sewer Connected; Water Connected Water Source: Public Showing Requirements: Appointment Only; Listing Agent Must Accompany

Contract Information

Auction YN: No
Original List Price: 1083000
Property Sub Type: Retail
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant

Location Tax and Legal

Street Number: 108
Street Direction Prefix: N
Street Name: Broad
Street Suffix: Street
County: Lake
State: IN
Postal Code: 46319
Subdivision Name: Woodlawn Add

Remarks and Miscellaneous

Public Remarks: This is a 3-unit, income producing property located in the heart of downtown Griffith. 2 units are fully leased and will provide great income to the new owner. The remaining unit is a vacant bar/grill (Arcade Bar) and includes all equipment, furniture, fixtures, liquor licenses (3-way liquor license PLUS catering License), vintage arcade games and much more. Large, fully equipped kitchen with unique pizza oven imported from Italy, huge refrigerator & 20 keg taps. Large bar and seating for 160+ people. Full interior & exterior security system in place, 2 bathrooms, extra storage areas and manager's office. Much of the building electric & HVAC has been installed new or updated since 2016. The property also comes with 18-owned parking spaces at the back of the building.

Status Change Information

Major Change Timestamp: 2021-06-23T11:54:09Z
Major Change Type: Status Change
Status Change Timestamp: 2021-06-23
Close Date: 2021-06-23
Close Price: 720000
Concessions: No
Buyer Financing: Conventional

More Information

Building Features

Overhead Doors: Yes
Business District Location: Yes
Private Restrooms: Yes
Other: Yes

Exemption Information

Exemption YN: Y

Showing Requirements

Showing Instructions: Use Showing Asst
Appointment Only: Yes
Listing Agent Must Accompany: Yes

Historical Information

Public Historical Remarks: Utilities: On, Parking: Public Parking

Location, Tax, and Legal

Postal Code +4: 2219
Tax Legal Description: Legal Description: WOODLAWN ADD. L.19 BL.14 S. 18 FT. L.18 BL.14
Parcel Number: 450735358031000006
Township: Calumet
Directions: Main St, north on Broad St to property.

Construction Materials

Block: Yes
Brick: Yes
Stone: Yes

Cooling

Central Air: Yes

Electric

100 Amp Service: Yes
150 Amp Service: Yes
200+ Amp Service: Yes

Flooring

Carpet: Yes
Tile: Yes

Foundation Details

See Remarks: Yes

Heating

Forced Air: Yes
Natural Gas: Yes

Interior Features

Elevator: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Parking Features

Paved: Yes
Private: Yes

Possession

Close Of Escrow: Yes

Road Frontage Type

City Street: Yes

Roof

Other: Yes

Utilities

Cable Available: Yes
Electricity Connected: Yes
Natural Gas Available: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Water Source

Public: Yes

Auction

Minimum Opening Bid: 0
Buyer Premium Amount: 0

Income and Expenses

Electric Expense: 0
Gross Income: 0
Gross Scheduled Income: 0
Insurance Expense: 0
Maintenance Expense: 0
Manager Expense: 0
Net Operating Income: 0
New Taxes Expense: 0
Other Expense: 0
Professional Management Expense: 0
Sewer Expense: 0
Supplies Expense: 0
Total Actual Rent: 0
Trash Expense: 0
Water Expense: 0

Tenant Pays

Gas: Yes

Current Use

Commercial: Yes
Office: Yes
Retail: Yes

Possible Use

Commercial: Yes
Retail: Yes
Other: Yes

Rail Availability

None: Yes

Special Licenses

Liquor: Yes

Listing Office: Rose Real Estate

Last Updated: June - 19 - 2024

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