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118 W Clark St 6,000 SF 100% Leased Office Building Crown Point, IN 46307 $1,680,000 ($280/SF) 5.33% Cap Rate
INVESTMENT HIGHLIGHTS
- Historic Downtown location right across from Courthouse/Museum
- Exposed Brick Walls
- All Main Level Trade Fixtures included
- Heavy Foot Traffic
- 4-way Liquor License included
EXECUTIVE SUMMARY
This historic downtown Crown Point Property located on the square directly across from the courthouse/museum is awaiting new ownership. Building features main level restaurant/bar and 2000 sqft upstairs apartment, both currently rented with main floor tenant on a month to month lease, and upstairs on a long term lease. Sale of property includes premier 4-way liquor license and all trade fixtures for the restaurant/bar. Liquor license allows for beer, wine, and liquor sales, along with packaged sales, events, and a 3:00am close time, and is transferrable to another Crown Point location if desired. Trade fixtures include all bar seating, beer taps, walk-in coolers, freezers, pizza oven, fryers, and Ansul System. Sale includes the 4-way liquor license. Current main floor tenant may elect to sign a long term lease. Please allow 48 hour notice for all showing requests. Contact Listing Agent to arrange for showing. Subject to Tenant Approval. Proof of funds or preapproval required prior to showing.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$93,000
|
$15.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$93,000
|
$15.50
|
| Taxes |
$17,754
|
$2.96
|
| Operating Expenses |
$4,000
|
$0.67
|
| Total Expenses |
$21,754
|
$3.63
|
| Net Operating Income |
$71,246
|
$11.87
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $93,000 |
| Annual Per SF | $15.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $93,000 |
| Annual Per SF | $15.50 |
| Taxes | |
|---|---|
| Annual | $17,754 |
| Annual Per SF | $2.96 |
| Operating Expenses | |
|---|---|
| Annual | $4,000 |
| Annual Per SF | $0.67 |
| Total Expenses | |
|---|---|
| Annual | $21,754 |
| Annual Per SF | $3.63 |
| Net Operating Income | |
|---|---|
| Annual | $71,246 |
| Annual Per SF | $11.87 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
6,000 SF
Building Class
B
Year Built
1920
Price
$1,680,000
Price Per SF
$280
Cap Rate
5.33%
NOI
$89,500
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,000 SF
Building FAR
2.75
Lot Size
0.05 AC
AMENITIES
- Restaurant
- Signage
- Kitchen
- Storage Space
- Basement
- Central Heating
- Hardwood Floors
1 1
Walk Score®
Walker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 45-16-08-132-008.000-042 | Total Assessment | $749,900 (2024) |
| Land Assessment | $90,500 (2024) | Annual Taxes | $17,754 ($2.96/SF) |
| Improvements Assessment | $659,400 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
45-16-08-132-008.000-042
Land Assessment
$90,500 (2024)
Improvements Assessment
$659,400 (2024)
Total Assessment
$749,900 (2024)
Annual Taxes
$17,754 ($2.96/SF)
Tax Year
2023
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118 W Clark St
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