8127 Kennedy AveHighland, IN 46322

  • Retail properties
  • 33,679 SF
For Sale
$2,400,000 View listing

Property Details for 8127 Kennedy Ave

Year built
1958
Construction
TYPE NOT SPECIFIED
Lot size
4.19 AC
Property size (Sq ft)
33,679 SF
Property type
Retail properties
Property subtype
Retail space
APN
45-07-21-201-003.000-026
APU
450721201003000026

Description

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.

8127 Kennedy Ave, Highland, Indiana

Location Insight

City
Highland
County
Lake
State
Indiana
Latitude
41.5653
Longitude
-87.4607
CBSA code
16980
CBSA name
CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$24,377
$326,200
$773,200
$1,099,400
-
$326,200
$773,200
$1,099,400

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