Office Space - For Sale
7320 Broadway Merrillville, IN 46410
Details & Description
Price: $3,850,000
  • Property Type Office for Sale : Medical
  • Lot Size Acres 0.346
  • Building Sq Ft 15,082
  • Building Price per Sq Ft $255.27
  • Land Sq Ft 15,082
  • Land Price per Sq Ft $255.27
Highlights7+ years remain on 10 year modified NNN lease with 2- 5 year options2.5% annual rent increasesLease guaranty15,082 sf building substantially remodeled in 2015Tenant invested over $2M in buildoutLocated in Merrillville, commerce center of NW IndianaDescriptionGreat 1031 Exchange or Investment Opportunity. The property features a 15,082 SF building leased to Biomat USA, a subsidiary of Grifols, a worldwide company in healthcare. The lease with 7 + years remaining on the initial 10 year term is a modified NNN lease with 2-5 yr. options with minimal landlord responsibilities. The building has been completely remodeled and Grifols has invested several million dollars in their buildout of the facility. Grifols is a leading producer of plasma-derived medicines used to treat rare, chronic and, at times, life-threatening conditions. The property is located in business friendly Merrillville, the commerce center of NW Indiana, just 45 minutes south of Chicago.Location73rd & Broadway. 45 mile south of Chicago
Listing Agents
Mark Jones

O: 312-804-5722
mjones@jameson.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

7320 Broadway

Merrillville, IN 46410

Listing ID: 202376
Property No Longer Listed
  • Property Type Office for Sale : Medical
  • Lot Size Acres 0.346
  • Building Sq Ft 15,082
  • Building Price per Sq Ft $255.27
  • Land Sq Ft 15,082
  • Land Price per Sq Ft $255.27
7320 Broadway Merrillville, IN 46410 | for Sale | Photo 1
Description

Highlights

7+ years remain on 10 year modified NNN lease with 2- 5 year options

2.5% annual rent increases

Lease guaranty

15,082 sf building substantially remodeled in 2015

Tenant invested over $2M in buildout

Located in Merrillville, commerce center of NW Indiana

Description

Great 1031 Exchange or Investment Opportunity. The property features a 15,082 SF building leased to Biomat USA, a subsidiary of Grifols, a worldwide company in healthcare. The lease with 7 + years remaining on the initial 10 year term is a modified NNN lease with 2-5 yr. options with minimal landlord responsibilities. The building has been completely remodeled and Grifols has invested several million dollars in their buildout of the facility. Grifols is a leading producer of plasma-derived medicines used to treat rare, chronic and, at times, life-threatening conditions. The property is located in business friendly Merrillville, the commerce center of NW Indiana, just 45 minutes south of Chicago.

Location

73rd & Broadway. 45 mile south of Chicago

Merrillville Area Market Trends

Listing Demographics for 7320 Broadway Merrillville, IN 46410

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population4,42241,100105,053
Population Median Age423939
Population by Age0-9 Yrs435 (9%)5220 (12%)12032 (11%)
10-19 Yrs506 (11%)5518 (13%)14373 (13%)
20-29 Yrs626 (14%)5343 (13%)12767 (12%)
30-39 Yrs457 (10%)5408 (13%)13593 (12%)
40-49 Yrs616 (13%)5398 (13%)14696 (13%)
50-59 Yrs619 (13%)5340 (12%)13910 (13%)
60-69 Yrs471 (10%)4617 (11%)12213 (11%)
70+ Yrs692 (15%)4256 (10%)11468 (10%)
Median HH Income$56,260$58,684$58,992
Total Household Income< 24K535 (27%)3039 (18%)8076 (19%)
25-49K333 (16%)3902 (23%)9538 (23%)
50-74K488 (24%)3863 (23%)8266 (19%)
75-99K236 (11%)2623 (15%)5991 (14%)
100-199K352 (17%)3011 (17%)8459 (20%)
200K+25 (1%)321 (1%)1097 (2%)
Highest Education LevelNo Diploma28225686934
Diploma or GED1393954024835
Some College624653016573
Assoc. Degree27024556810
Bachelors Degree427424011123
Higher Degree23324795990
Total Housing Units2,20218,28846,722
--Owner-Occupied1,21810,32029,033
--Renter-Occupied7516,43712,395
Owner-Occupied Values< 100K36722437336
100-199K774677514483
200-299K6310215083
300-399K71471430
400-499K721171
500K+0113530
Total Working Age Population3,68232,54984,405
In Work Force2,28721,34653,526
Not In Work Force1,39511,20230,879
Workforce Employed2,18819,74649,519
Workforce Unemployed991,5943,998
Civlian Workforce2,28721,34053,517
Military Workforce069
Total Households1,96916,75841,428
Family Households1,0149,96026,261
Non-Family Households9556,79715,167
Married Couple6756,49818,078
Other Family3393,4628,184
Married w/Child2482,6497,026
Single Male w/Child305121,036
Single Female w/Child1051,4363,214

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Illinois12,419,293+312,830,632+1214,316,487+615,138,849
Cook County5,376,741-35,194,675+105,707,832+55,990,243
Indiana6,080,485+76,483,802+46,738,573+47,014,880
Lake County484,564+2496,005-3479,815+1482,321

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Other Office Space Listings for Sale Nearby
Address Price Sq Ft Acres
7863 Broadway, Merrillville, IN $3,825,000 33207 2.07
101 West 84th Drive, Merrillville, IN $2,750,000 39672 2.45
2600 81st Avenue, Merrillville, IN $599,000 8400 1.28
5265 Commerce Boulevard, Crown Point, IN $1,105,650 12800 1.85
125 N Main St, Crown Point, IN CALL 1754 -
123 North Main Street, Crown Point, IN $365,000 2164 -
123 North Main Street, 209, Crown Point, IN $365,000 2164 -
11420 Broadway, Crown Point, IN $360,000 10600 -
20 East U.S. Highway 30, Schererville, IN $1,100,000 12002 1.59
9635 Saric Court, Highland, IN $399,000 7600 0.23
Closest Commercial Airports
Airport Distance (mi)
Chicago Midway International Airport (MDW) 30
Chicago O'Hare International Airport (ORD) 45
South Bend Regional Airport (SBN) 55