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9801 Georgia Street Crown P...

Marcus & Millichap Closes $7M Sale Of Net-Leased Property In Crown Point, IN
SOLDOffice

Marcus & Millichap Closes $7M Sale Of Net-Leased Property In Crown Point, IN

9801 Georgia Street Crown Point, Indiana 46307, USA

$7,000,000

$201/SF

Building Size

34,704 SF

Asset Type

Office

Closing

Jun 2, 2023

AI

Marcus & Millichap has closed the $7 million sale of a 34,704-square foot property located in Crown Point, Indiana. The property is net-leased to the State of Indiana, making it an attractive investment opportunity. Situated at 9801 Georgia Street, Crown Point, Indiana, 46307, this office asset boasts a prime location in a thriving area.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $7,000,000
  • Address: 9801 Georgia Street, Crown Point, Indiana, 46307, USA

Mitchell Kiven and Nicholas Kanich, brokers from Marcus & Millichap's Chicago Downtown office, facilitated the transaction, showcasing their expertise in the commercial real estate market. Their knowledge and negotiation skills were instrumental in finalizing the deal. Joining them in the transaction was Josh Caruana, another experienced broker from Marcus & Millichap.

The sale of this property highlights Marcus & Millichap's commitment to delivering exceptional service and successful outcomes for their clients. By leveraging their extensive network and market insights, the brokers achieved a favorable deal for all parties involved.

Note: Marcus & Millichap's Chicago Downtown office successfully closed the transaction, demonstrating their ability to navigate complex real estate deals.

Players

Mitchell Kiven

Marcus & Millichap

Broker

$106.5M

vol

27 deals

Broker

Crown Point Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93