5340-5364 Broadway | Merrillville, IN 46410
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5340-5364 Broadway
Merrillville, IN 46410
City Mall · Retail Property For Sale
Investment Highlights
- Large Enclosed climate controlled building, high traffic location off major highways NWI Hub
- Move in ready condition, Plenty of parking, highly divisible lot.
- Can be converted to single user for main portion building or continue as seperate end users tenants. Two loading docks for tenants
Executive Summary
Strip mall available in prime location on Broadway in the Town of Merrillville, IN! This property, known as City Mall, consists of a total of approximately 3 acres. Close proximity to Interstates 80/94 and 65. Building has a total of over 43,000 sq ft of usable space. 2 loading dock areas. Additional garage currently being used by a tenant for storage. Current tenants include: bookstore, beauty salon, religious organization, discount home goods store, and several other retailers in the center vendor space. Most rents are below market. There is also potential to develop outlots for retail, office, restaurants, etc in the huge parking lot! The upper level office space with its own separate entrance is an added bonus! Perfect for an investor/ developer or owner user. Major value add opportunities here!
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
43,688 SF
Building Class
C
Year Built
1965
Price
$1,850,000
Price Per SF
$42
Percent Leased
80%
Tenancy
Multiple
Building Height
3 Stories
Loading Docks
2 Exterior
Building FAR
0.33
Lot Size
3.06 AC
Zoning
C - Commercial
Parking
100 Spaces (2.29 Spaces per 1,000 SF Leased)
Frontage
280 FT on Broadway
Amenities
- Atrium
- Banking
- Conferencing Facility
- Signage
- Enclosed Mall
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 45-12-04-232-018.000-031 | Improvements Assessment | $655,900 |
| Land Assessment | $774,700 | Total Assessment | $1,430,600 |
PROPERTY TAXES
Parcel Number
45-12-04-232-018.000-031
Land Assessment
$774,700
Improvements Assessment
$655,900
Total Assessment
$1,430,600
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