9002-9010 Cline Avenue, Highland, IN 46322
$650,000
Property Type:
Commercial Sale
Square Footage:
10,000
Lot Size (sq. ft.):
108,029
Status:
Closed
Current Price:
$650,000
List Date:
8/06/2019
Last Modified:
2/24/2024
Overview
Description
Listing Details MLS# 460425
General Property Information
- Living Area
- 10000
- Building Area Source
- Builder
- Year Built
- 1990
- Lot Size Acres
- 2.48
- Lot Size Square Feet
- 108029
- Lot Size Dimensions
- 385 x 280
- Waterfront YN
- No
Property Features
Building Features:
Exterior Lighting; Office Park Location; Passenger Elevator(s); Private Restrooms; Suspended Ceiling(s)
Construction Materials:
Block; Brick; Stucco; Other
Cooling:
Central Air
Current Use:
Medical/Dental; Office; Residential
Flooring:
Carpet; Tile; Varies; Vinyl
Foundation Details:
See Remarks
Heating:
Forced Air; Natural Gas
Interior Features:
Elevator
Listing Terms:
Cash; Conventional
Parking Features:
Common; Lighted; Open
Possible Use:
Medical/Dental; Office
Rail Availability:
None
Road Frontage Type:
City Street
Roof:
Flat; Membrane
Security Features:
Security Lights; Other
Special Listing Conditions:
Agent Owned / Interest
Tenant Pays:
Gas; Hot Water; Water
Utilities:
Detention Pond; Electricity Available; Electricity Connected; Natural Gas Available; Natural Gas Connected; Sewer Connected
Water Source:
Public
Showing Requirements:
Listing Agent Must Accompany
Contract Information
- Auction YN
- No
- Original List Price
- 695000
- Property Sub Type
- Office
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
Location Tax and Legal
- Street Number
- 9002-9010
- Street Name
- Cline
- Street Suffix
- Avenue
- County
- Lake
- State
- IN
- Postal Code
- 46322
- Subdivision Name
- Forest Park Plaza
Remarks and Miscellaneous
- Public Remarks
- Fully (long term) leased multi tenant building now offered for the first time in Highland, Indiana. Located with high visibility and 385 ft. frontage on Cline Ave. Excellent investment with cap rate nearing 15%. This has proven to be a stable cash flow asset. This offering is for 5 contiguous units with separate pin numbers, separate tenant paid utilities. Added bonus: they have been set up as separate condominium units for future flexibility. Business type use. Handicap lift elevator. Added bonus: Only 64.31% of exterior charges are attributed to these 5 units. The POA pays ground maintenance, scavenger, parking lot lights, elevator lift, commercial exterior insurance.
Status Change Information
- Major Change Timestamp
- 2019-12-30T13:33:09Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2019-12-30
- Offer Acceptance Date
- 2019-12-30
- Close Date
- 2019-12-30
- Close Price
- 650000
- Concessions
- No
- Buyer Financing
- Conventional
More Information
Exemption Information
- Exemption YN
- Y
Frontage Type
- Frontage Length
- 385
Income and Expenses
- Expense Year
- 2018
- Gross Scheduled Income
- 157068
- Insurance Expense
- 2078
- Net Operating Income
- 110526
- New Taxes Expense
- 15897
- Professional Management Expense
- 5000
- Total Actual Rent
- 157068
- Water Expense
- 572
Showing Requirements
- Showing Instructions
- One of the listing agents to accompany. Requires notice
Historical Information
- Public Historical Remarks
- Utilities: On, Frontage Access: Public Road
Listing Office:
@properties/Christie's Intl RE
Last Updated: February - 24 - 2024
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