9407 Indianapolis BlvdHighland, IN 46322

Property Details for 9407 Indianapolis Blvd

Year built

1941

Construction

WOOD

Lot size

1.50 AC

Property size (Sq ft)

4,199 SF

Property type

Office properties

APN

45-07-28-304-001.000-026

APU

450728304001000026

Description

This exceptional 1.5-acre commercial property presents a unique investment opportunity in a high-traffic location. Situated at the signalized intersection of Indianapolis Boulevard and Hart Road, this B-3 zoned lot boasts over 35,000 vehicles passing daily. The property features 200 feet of frontage on US Highway 41 (a four-lane primary artery) and an additional 288 feet of frontage on Hart Road, ensuring excellent visibility and accessibility. Existing structures include a 2200 square foot, two-story brick building, currently configured as accessible sales offices, and a separate 3000 square foot building suitable for shop and storage space. The seller estimates ample parking for approximately 120 vehicles. This prime location is less than two miles from the I-80/94 interchange, providing easy access to major transportation routes. The property benefits from a strong surrounding retail environment, including national brands such as AutoZone, McDonald's, Goodyear, O'Reilly Auto Parts, and Walgreens, as well as numerous new car dealerships representing Chevrolet, Chrysler, Ford, Honda, Hyundai, Toyota, and Volkswagen. The area within a five-mile radius has a substantial population exceeding 216,000 residents and over 83,000 households, providing a large potential customer base. This property offers significant potential for a variety of retail uses.

• CAP approach

  CAP return

  Valuation

  6%

  $1,349,439

  6.5%

  $1,245,636

  7%

  $1,156,662

• Comparable approach

  Method

  Valuation

  Relative Method

  $546,920

  Geo Method

  $546,920

• Alternative Use

  Use

  Valuation

  Residential Income

  $1,544,588

  Hospitality / Lodging

  $1,414,835

  Institutional / Educational

  $1,177,126

  Healthcare / Senior Housing

  $1,217,609

  Retail / Commercial

  $1,831,085

Location Insight

City

Highland

County

Lake

State

Indiana

Latitude

41.5426

Longitude

-87.4705

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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