8127 Kennedy AveHighland, IN 46322
- Retail properties
- 33,679 SF
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.
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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