Office Space
7320 Broadway Merrillville, IN 46410
Details & Description
Price: $3,850,000
    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
    Property ID:    202376
    Property URL: melqr.com/202376
    Generated:    04-27-24
    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.
    Office Space / Indiana / Merrillville / 46410 / 7320 Broadway

    7320 Broadway

    Merrillville, IN 46410

    No Longer Listed
    7320 Broadway Merrillville, IN 46410 | for Sale | Photo 1
    Price
    $ /mo
    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.

    Common Questions and Answers

    What is the asking price for 7320 Broadway in Merrillville?
    The asking price for 7320 Broadway is $3,850,000
    What is the building size of this Office property in Merrillville, IN?
    The size of the building/unit at 7320 Broadway in Merrillville is 15,082 square feet
    How much land does the Merrillville, IN property at 7320 Broadway include?
    7320 Broadway in Merrillville includes 0.346 acres of land
    What kind of Office is the propery at 7320 Broadway?
    The property at 7320 Broadway Merrillville, IN 46410 is listed as a Medical Office property
    What is the population within 1 mile of 7320 Broadway in Merrillville?
    The population within 1 mile of 7320 Broadway Merrillville, IN 46410 is 4,422 people.
    Who do I contact for questions about 7320 Broadway?
    You should contact the listing agent, Mark Jones, for any details regarding this commercial listing.

    Other Listings for Sale Nearby

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    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
    --
    No Longer Listed
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