134 Broad StGriffith, IN 46319

Property Details for 134 Broad St

Year built

1956

Construction

WOOD

Lot size

0.06 AC

Property size (Sq ft)

4,100 SF

Property type

Retail properties

Property subtype

Retail space

APN

45-07-35-358-023.000-006

APU

450735358023000006

Description

This 1,400 square foot retail space in downtown Griffith, Indiana, presents a unique investment opportunity. Located at 134-144 S Broad St, this single-tenant property boasts a recently completed renovation (2023), including a brand new facade. The space, formerly a restaurant, features an existing 8-foot hood, ideal for a variety of food-related businesses or adaptable for other retail uses. Situated on a 0.26-acre lot, the building totals 6,102 square feet, with 1,400 square feet currently available. Its prime location is adjacent to the Erie Lackawanna Trail and a new public parking lot, ensuring high visibility and convenient access for customers. Built in 1920, the property benefits from modern updates while retaining its historic charm. Griffith, a thriving town in Lake County, is part of the Chicago metropolitan area, boasting a population of 16,420 (2020 census), making it the 11th largest town in Indiana by population and 17th largest by area. This property offers exceptional potential for a discerning investor seeking a high-traffic location within a growing community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,936,906

  6.5%

  $1,787,913

  7%

  $1,660,205

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,345,743

  Geo Method

  $1,345,743

• Alternative Use

  Use

  Valuation

  Residential

  $1,508,172

  Hospitality

  $1,381,477

  Educational

  $1,149,373

  Medical

  $1,188,902

  Retail

  $1,787,913

Location Insight

City

Griffith

County

Lake

State

Indiana

Latitude

41.5241

Longitude

-87.428

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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