7940 New Jersey Ave | Hammond, IN 46323
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- LoopNet Team
7940 New Jersey Ave
Hammond, IN 46323
Meyer Distributing Portfolio · Industrial Property For Sale
INVESTMENT HIGHLIGHTS
- Four Property Portfolio Totaling 74,674 Square Feet, Five Dock-High Doors, Seven Drive-Ins, and Clear Heights Ranging from 10-18 Feet.
- Upon Close of Escrow Meyer Distributing Inc. Will Execute a Five-Year Triple-Net Sale-Leaseback with 3% Annual Escalations.
- High Barrier-to-Entry Submarket: 1.8% Vacancy, 7.4% Rent Growth on Comparables (CoStar).
- 92.23% Occupied with Triple-Net Leases for Meyer Distributing Inc., Johnstone Supply, and Hydraulic Component Services, Inc.
- Vacant Building Has Deferred Maintenance Yet Creates Value-Add Opportunity for Storage.
- Landlord Responsibilities: Roof, Structure, Parking Lots, and HVAC Replacement.
PROPERTY FACTS
| Property Type | Industrial | Year Built | 1976 |
| Property Subtype | Warehouse | Parking Ratio | 0.5/1,000 SF |
| Building Class | C | Clear Ceiling Height | 18’ |
| Lot Size | 3.42 AC | No. Dock-High Doors/Loading | 5 |
| Rentable Building Area | 74,674 SF | No. Drive In / Grade-Level Doors | 7 |
| No. Stories | 1 | ||
| Zoning | I-1 - Light Industrial, manufacturing, and various commercial uses | ||
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 3.42 AC |
| Rentable Building Area | 74,674 SF |
| No. Stories | 1 |
| Year Built | 1976 |
| Parking Ratio | 0.5/1,000 SF |
| Clear Ceiling Height | 18’ |
| No. Dock-High Doors/Loading | 5 |
| No. Drive In / Grade-Level Doors | 7 |
| Zoning | I-1 - Light Industrial, manufacturing, and various commercial uses |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,603,900 | |
| Land Assessment | $288,000 | Total Assessment | $3,891,900 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$288,000
Improvements Assessment
$3,603,900
Total Assessment
$3,891,900
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