For Sale
$2,400,000

8127 Kennedy AveHighland, IN 46322

High-yield retail investment, 8.86% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
117
Homestead Plaza, a 30,809 square foot retail strip center in Highland, Indiana, presents a compelling value-add investment opportunity. Priced at $2,400,000 ($77.90/SF), this 100% leased property boasts an 8.86% cap rate and a strong net operating income (NOI) of $212,537. Built in 1958 and situated on a 4.19-acre lot (APN: 45-07-21-201-003.000-026), the property is zoned B1 and enjoys a prime location on Kennedy Avenue, just south of the I-80/94 interchange, offering convenient access to a large customer base. The tenant mix includes a blend of medical and retail businesses, anchored by Humane Indiana and other local hospital systems. Current rents average below $10 per square foot, significantly below market rates, providing substantial upside potential for rental income growth. The property's strategic location less than 30 miles from downtown Chicago further enhances its investment appeal. This asset offers a diverse range of suite sizes, catering to various tenant needs. The property's high historical occupancy rate underscores its consistent performance and desirability within the market. This is a rare opportunity to acquire a well-positioned, high-performing retail center with significant value-add potential.

Highlights

  • 100% leased, value-add retail strip center in Highland, IN.
  • Below-market rents averaging under $10/SF, offering significant upside potential.
  • Prime Kennedy Ave. location, south of I-80/94 interchange.
  • Strong tenant mix of medical and retail uses.
  • High historical occupancy rate.
  • Located ~30 miles from downtown Chicago.

Property Details for 8127 Kennedy Ave

Property type
Neighborhood centers, Retail properties
Square Feet
30,809 SF
Year Built
1958
Lot Size (sq. ft)
182,516 SF

Location Insight

City
Highland
County
Lake
State
Indiana
Latitude
41.565299
Longitude
-87.460658
8127 Kennedy Ave, Highland, Indiana

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
8127 Kennedy Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message