7310 Lincoln HwyCrown Point, IN 46307

Property Details for 7310 Lincoln Hwy

Year built

2006

Lot size

2.09 AC

Property size (Sq ft)

13,380 SF

Property type

Healthcare properties

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents a 13,380-square-foot medical office building situated on a 2.09-acre lot in Crown Point, Indiana. The property, built in 2006, is currently 100% occupied under a triple-net (NNN) lease with Franciscan Physician Network, a credit-rated tenant with an "AA" Fitch rating. The lease, originally signed in June 2006, has a remaining term of approximately 1.9 years, encompassing two 5-year option periods previously exercised, demonstrating the tenant's long-term commitment. The building boasts a single story and features a prime location on West Lincoln Highway (US-30), a high-traffic thoroughfare with over 49,000 vehicles daily, offering excellent visibility and accessibility. The property generates a substantial net operating income (NOI) of $260,910, resulting in a compelling 9.50% cap rate. The asking price is $2,746,421, translating to $205 per square foot. This investment is further enhanced by its strategic location within the Chicago metropolitan area, benefiting from a large and growing population base. The property's strong tenant, long-term lease, and passive income stream make it an attractive addition to any portfolio. The property's APN is 45-11-14-376-001.000-036. This offering is suitable for a 1031 exchange.

Location Insight

City

Crown Point

County

Lake

State

Indiana

Latitude

41.4815

Longitude

-87.4268

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