8031-8045 Euclid Avenue, Munster, IN 46321
$735,000
Property Type:
Commercial Sale
Square Footage:
6,500
Lot Size (sq. ft.):
34,848
Status:
Closed
Current Price:
$735,000
List Date:
3/20/2021
Last Modified:
2/24/2024
Overview
Description
Listing Details MLS# 490402
General Property Information
- Living Area
- 6500
- Building Area Source
- Assessor
- Accessibility Features YN
- Yes
- Year Built
- 1983
- Lot Size Acres
- 0.8
- Lot Size Square Feet
- 34848
- Lot Size Dimensions
- 290 x 115
- Stories
- 0
Property Features
Building Features:
Acoustical Ceiling(s); Business District Location; Exterior Lighting; Multi Tenant; Private Restrooms
Construction Materials:
Brick; Concrete; Frame
Cooling:
Central Air
Current Use:
Office
Electric:
100 Amp Service; 150 Amp Service; 200+ Amp Service
Flooring:
Carpet; Concrete; Tile
Foundation Details:
Concrete Perimeter
Frontage Type:
Other
Heating:
Forced Air; Natural Gas
Interior Features:
Elevator
Listing Terms:
Cash; Conventional
Parking Features:
Paved; Private
Possession:
Close Of Escrow
Possible Use:
Commercial; Medical/Dental; Office
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Composition
Tenant Pays:
Gas; Water
Utilities:
Cable Available; Natural Gas Available; Natural Gas Connected; Sewer Connected
Water Source:
Public
Contract Information
- Auction YN
- No
- Original List Price
- 750000
- Property Sub Type
- Office
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Vacant
Location Tax and Legal
- Street Number
- 8031-8045
- Street Name
- Euclid
- Street Suffix
- Avenue
- County
- Lake
- State
- IN
- Postal Code
- 46321
- Subdivision Name
- None
Remarks and Miscellaneous
- Public Remarks
- 6 Unit 6500 SF Office Building For Sale with Space For Lease in Munster, Indiana close to Chicago. This newly renovated office building is located on the ILIN border and is turn key ready for a variety of retail and office applications.The upside is a well above market cap opportunity in a great building with no deferred maintenance. NOI Pro Forma $108,000 provides a 12 CAP in a 5 to 7 CAP market. 7 CAP results in value of over 1.5mm.Owners recently finished interior remodel and have leased up to tow spaces. In the process of filling out additional spaces. Interior walls can be moved, so building currently represents an income play opportunity for owner occupants. Each unit is separately metered and has at least one bathroom, furnace, and air conditioning. Good roof and parking lot. 50 parking spaces.Located just one block east of Calumet Ave and two blocks south of 80-94 Expressway. Located in a quiet setting, but close to commercial zone with national anchors and good traffic.
Status Change Information
- Major Change Timestamp
- 2021-05-10T11:54:31Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2021-05-10
- Offer Acceptance Date
- 2021-05-12
- Close Date
- 2021-05-10
- Close Price
- 735000
- Concessions
- No
- Buyer Financing
- Conventional
More Information
Building Features
- Industrial Park Name
- None
- Acoustical Ceiling(s)
- Yes
- Business District Location
- Yes
- Exterior Lighting
- Yes
- Multi Tenant
- Yes
- Private Restrooms
- Yes
Exemption Information
- Exemption YN
- Y
Income and Expenses
- Expense Year
- 2019
- Gross Scheduled Income
- 14400
- Insurance Expense
- 4000
- New Taxes Expense
- 23885
- Total Actual Rent
- 14400
- Electric Expense
- 0
- Gross Income
- 0
- Maintenance Expense
- 0
- Manager Expense
- 0
- Net Operating Income
- 0
- Other Expense
- 0
- Professional Management Expense
- 0
- Sewer Expense
- 0
- Supplies Expense
- 0
- Trash Expense
- 0
- Water Expense
- 0
Showing Requirements
- Showing Instructions
- Please use Showing Assist
Historical Information
- Public Historical Remarks
- Utilities: On, Roof Structure: Gable, Fire Protect: Fire Extinguishers
Location, Tax, and Legal
- Postal Code +4
- 1346
- Tax Legal Description
- Legal Description: PROFESSIONAL PLAZA ADDITION LOT 1 EX. N.795FT
- Parcel Number
- 450718353003000027
- Township
- North
- Directions
- Calumet Ave to Broadmoor, east to Euclid, property on corner of Euclid and Broadmoor
Construction Materials
- Brick
- Yes
- Concrete
- Yes
- Frame
- Yes
Cooling
- Central Air
- Yes
Electric
- 100 Amp Service
- Yes
- 150 Amp Service
- Yes
- 200+ Amp Service
- Yes
Flooring
- Carpet
- Yes
- Concrete
- Yes
- Tile
- Yes
Foundation Details
- Concrete Perimeter
- Yes
Frontage Type
- Other
- 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
- Composition
- Yes
Utilities
- Cable Available
- Yes
- Natural Gas Available
- Yes
- Natural Gas Connected
- Yes
- Sewer Connected
- Yes
Water Source
- Public
- Yes
Auction
- Minimum Opening Bid
- 0
- Buyer Premium Amount
- 0
Tenant Pays
- Gas
- Yes
- Water
- Yes
Current Use
- Office
- Yes
Possible Use
- Commercial
- Yes
- Medical/Dental
- Yes
- Office
- Yes
Rail Availability
- None
- Yes
Listing Office:
Coldwell Banker Market Connect
Last Updated: February - 24 - 2024
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