904 Old Ridge RdHobart, IN 46342

Property Details for 904 Old Ridge Rd

Year built

1964

Construction

WOOD

Lot size

0.50 AC

Property size (Sq ft)

7,279 SF

Property type

Office properties

APN

45-09-30-332-024.000-018

APU

450930332024000018

Description

This single-story, 7,279 square foot Class B office building, constructed in 1964, is situated on a 0.47-acre lot at the corner of W Old Ridge Road and N California Street in Hobart, Indiana. The property features a total of 25 parking spaces and is zoned OS-1. Currently, one suite of 620 square feet is available for lease, representing a portion of the building's total 3 suites. The minimum leasable space is 620 square feet, which is also the maximum contiguous space currently available. The building does not have elevators. Its convenient location offers excellent visibility, with pylon signage on W Old Ridge Road and proximity to Strack & Van Til grocery store. The property's address is 904 W Old Ridge Rd, Hobart, IN 46342. The building's location within the Chicagoland Metropolitan Area, approximately 31 miles southeast of Chicago, provides easy access to a large workforce and consumer base. The property's APN is 45-09-30-332-024.000-018.

• CAP approach

  CAP return

  Valuation

  6%

  $2,339,263

  6.5%

  $2,159,320

  7%

  $2,005,083

• Comparable approach

  Method

  Valuation

  Relative Method

  $948,090

  Geo Method

  $948,090

• Alternative Use

  Use

  Valuation

  Residential

  $2,677,556

  Hospitality

  $2,452,628

  Educational

  $2,040,557

  Medical

  $2,110,735

  Retail

  $3,174,200

Location Insight

City

Hobart

County

Lake

State

Indiana

Latitude

41.54

Longitude

-87.271

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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