200 W Glen Park Avenue, Griffith, IN 46319 (MLS# 480395)

200 W Glen Park Avenue, Griffith, IN 46319

$580,000

Property Type: Commercial Sale Square Footage: 7,200 Lot Size (sq. ft.): 30,361 Status: Closed

Current Price: $580,000 List Date: 8/24/2020 Last Modified: 2/24/2024

Overview

Description

Twin brick sisters w/superb traffic counts & business exposure for this high quality professional complex. Plenty of well lit parking ( lot scheduled for reseal 9/2020). North 3600SF unit is occupied @$25psf by a long term Govt tenant that just signed a 5 yr FIRM lease w/ another 5 yrs renewable. South bldg offers addtl 3600SF of flexible space w common entrance that opens into 2 separate areas both sitting atop a partial basement/poured crawl for LOADS of STORAGE. West side incl 4 generous fully furnished private offices, large conference room, 2 cubicles, common printer area, reception space w/ waiting room & kitchenette. East side is home to 5 more fully furnished suites, 2 large conference rooms & common area. Each building has 4-90%+ HVAC units zoned E/W & front/back. Professionally painted, all new flooring + new roof (2014) makes the cost of ownership easy to budget. This is a rare opportunity to sublet 1/2 & operate your biz for FREE, occupy all for pennies or cash flow it all

Listing Details MLS# 480395

General Property Information

Living Area: 7200
Building Area Source: Assessor
Year Built: 1991
Lot Size Acres: 0.697
Lot Size Square Feet: 30361
Lot Size Dimensions: 217x140
Builder Name: o
Stories: 0

Property Features

Building Features: Acoustical Ceiling(s); Exterior Lighting; Lunch Room; Meeting Room; Multi Tenant; Private Restrooms Construction Materials: Brick; Frame Cooling: Central Air; Zoned Current Use: Office Electric: 100 Amp Service; Separate Meters Flooring: Carpet; Tile Foundation Details: Concrete Perimeter Heating: Forced Air; Natural Gas; Zoned Interior Features: Elevator Listing Terms: Cash; Conventional Lock Box Information: SentriLock Lot Features: Corner Lot Parking Features: Lighted; Open; Paved Possession: Close Of Escrow; Subject To Tenant Rights Possible Use: Commercial; Medical/Dental; Mixed Use; Office; Place of Worship; Retail; Other Rail Availability: None Road Frontage Type: City Street Roof: Other Security Features: Fire Alarm; Security Lights; Security System; Smoke Detector(s) Tenant Pays: Exterior Maintenance; Grounds Care; HVAC Maintenance; Water Utilities: Cable Available; Electricity Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Water Source: Public

Contract Information

Auction YN: No
Original List Price: 699000
Property Sub Type: Office
Property Attached YN: No
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant

Location Tax and Legal

Street Number: 200
Street Direction Prefix: W
Street Name: Glen Park
Street Suffix: Avenue
County: Lake
State: IN
Postal Code: 46319
Subdivision Name: Burbridges Add 02

Remarks and Miscellaneous

Public Remarks: Twin brick sisters w/superb traffic counts & business exposure for this high quality professional complex. Plenty of well lit parking ( lot scheduled for reseal 9/2020). North 3600SF unit is occupied @$25psf by a long term Govt tenant that just signed a 5 yr FIRM lease w/ another 5 yrs renewable. South bldg offers addtl 3600SF of flexible space w common entrance that opens into 2 separate areas both sitting atop a partial basement/poured crawl for LOADS of STORAGE. West side incl 4 generous fully furnished private offices, large conference room, 2 cubicles, common printer area, reception space w/ waiting room & kitchenette. East side is home to 5 more fully furnished suites, 2 large conference rooms & common area. Each building has 4-90%+ HVAC units zoned E/W & front/back. Professionally painted, all new flooring + new roof (2014) makes the cost of ownership easy to budget. This is a rare opportunity to sublet 1/2 & operate your biz for FREE, occupy all for pennies or cash flow it all

Status Change Information

Major Change Timestamp: 2024-02-18T02:06:01Z
Major Change Type: Price Reduced
Price Change Timestamp: 2024-02-18T02:06:01Z
Status Change Timestamp: 2021-01-12
Offer Acceptance Date: 2020-12-05
Close Date: 2021-01-12
Close Price: 580000
Concessions: Yes
Buyer Financing: Conventional

More Information

Exemption Information

Exemption YN: N

Frontage Type

Frontage Length: 217

Income and Expenses

Expense Year: 2019
Gross Scheduled Income: 78902
Insurance Expense: 3184
Net Operating Income: 22228
New Taxes Expense: 14544
Supplies Expense: 6199
Total Actual Rent: 78902
Water Expense: 10102
Electric Expense: 0
Gross Income: 0
Maintenance Expense: 0
Manager Expense: 0
Other Expense: 0
Professional Management Expense: 0
Sewer Expense: 0
Trash Expense: 0

Lock Box Information

Lock Box Serial Number: 1508743
SentriLock: Yes

Showing Requirements

Showing Instructions: VIEWINGS FOR SOUTH UNIT ONLY., Please make sure all lights are turned off and door is locked, LOCKBOX on South East corner of South building., Please request showings via show assist

Historical Information

Public Historical Remarks: Utilities: On, Frontage Access: Public Road, Roof Structure: Gable,Truss, Fire Protect: Fire Extinguishers

Location, Tax, and Legal

Postal Code +4: 1508
Tax Legal Description: Legal Description: BURBRIDGE'S SECOND ADDITION LOT #1
Parcel Number: 450726354024000006
Township: Calumet
Directions: Cline avenue to 45th. East on 45th to Griffith Blvd. Property sits on the corner of 45th and Griffith Blvd directly west of the Griffith Post office.

Construction Materials

Brick: Yes
Frame: Yes

Cooling

Central Air: Yes
Zoned: Yes

Electric

100 Amp Service: Yes
Separate Meters: Yes

Flooring

Carpet: Yes
Tile: Yes

Foundation Details

Concrete Perimeter: Yes

Heating

Forced Air: Yes
Natural Gas: Yes
Zoned: Yes

Interior Features

Elevator: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Lot Features

Corner Lot: Yes

Parking Features

Lighted: Yes
Open: Yes
Paved: Yes

Possession

Close Of Escrow: Yes
Subject To Tenant Rights: Yes

Road Frontage Type

City Street: Yes

Roof

Other: Yes

Security Features

Fire Alarm: Yes
Security Lights: Yes
Security System: Yes
Smoke Detector(s): Yes

Utilities

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

Water Source

Public: Yes

Auction

Minimum Opening Bid: 0
Buyer Premium Amount: 0

Tenant Pays

Exterior Maintenance: Yes
Grounds Care: Yes
HVAC Maintenance: Yes
Water: Yes

Current Use

Office: Yes

Possible Use

Commercial: Yes
Medical/Dental: Yes
Mixed Use: Yes
Office: Yes
Place of Worship: Yes
Retail: Yes
Other: Yes

Building Features

Acoustical Ceiling(s): Yes
Exterior Lighting: Yes
Lunch Room: Yes
Meeting Room: Yes
Multi Tenant: Yes
Private Restrooms: Yes

Rail Availability

None: Yes

Listing Office: SCHUPP Real Estate

Last Updated: February - 24 - 2024

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