Market Summary

​

Price                                  $1,217,105

Cap Rate                             7.60%

NOI                                    $92,500 

Rentable SF                        7,000 SF

Price per SF                      $173.87

Year Built                            2004

Lot Size                               1.31 Acres

Description

​

Marcus & Millichap is please to present Advance Auto Parts, located at 5790 Broadway in Merrillville, Indiana.  The property, built-to-suit for Advance Auto Parts in 2004 signed a 20-year lease.  There is currently 4.6 years remaining on the original term.  There are three, five-year options that include rent bumps.  The tenant is responsible for taxes, insurance and CAM, while the landlord is responsible for foundation, roof, parking lot and HVAC.

Today, Merrillville enjoys great diversity in housing, residents, and culture.  It is rich with business districts that support the 35,000 residents and 12,000 individual households.  It is estimated that during any given weekday, the population of Merrillville grows to over 100,000 due to shoppers and workers throughout the town.  Merrillville has become the crossroads of the county as it has the popular Interstate 65 that runs through most of the town, as well as the U.S. Rou te 30.  The main north/south arteries are Broadway Street (Route 53) and Taft Street.