8127 Kennedy AveHighland, IN 46322

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 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

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