7904 Cabela DrHammond, IN 46324

Property Details for 7904 Cabela Dr

Year built

2019

Construction

TYPE NOT SPECIFIED

Lot size

2.43 AC

Property size (Sq ft)

18,052 SF

Property type

Medical offices

Property subtype

Medical centers

APN

45-07-17-451-006.000-023

APU

450717451006000023

Description

This exceptional Class A medical office building, totaling 17,940 square feet, is a single-tenant, absolute NNN net lease property located in Hammond, Indiana. The building, constructed in 2019, houses a 14-bed Northwest Indiana ER & Hospital operated by Nutex Health. The 20-year lease, commencing May 6, 2020, and expiring May 5, 2040, has a remaining term of 15.5 years and includes three 5-year options. Annual rent increases are the greater of CPI or 2.5%. The property boasts a strong 8.50% cap rate and a Net Operating Income (NOI) of $1,182,452. Strategically situated at the intersection of US Highway 41 and Interstate 94, the hospital enjoys exceptional regional access and benefits from its location in a dense retail corridor near major retailers and new residential developments. Serving a population of approximately 500,000 in Lake County, Indiana (the second-largest county in the state), and within easy reach of the Chicago metropolitan area, this investment offers significant long-term potential. The hospital features advanced imaging equipment (MRI, X-ray, ultrasound, and CT scan), eight ER beds, and six inpatient beds. The building is fee simple ownership. Lake County's economic growth and the ongoing development in Hammond further enhance the property's value.

• CAP approach

  CAP return

  Valuation

  6%

  $5,801,398

  6.5%

  $5,355,137

  7%

  $4,972,627

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,351,273

  Geo Method

  $2,351,273

• Alternative Use

  Use

  Valuation

  Residential

  $6,640,370

  Hospitality

  $6,082,543

  Educational

  $5,060,604

  Medical

  $5,234,646

  Retail

  $7,872,052

Location Insight

City

Hammond

County

Lake

State

Indiana

Latitude

41.5689

Longitude

-87.4799

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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