1032 119th St
Whiting, IN 46394

Overview
Discover a premier investment opportunity with this fully occupied office property situated on the border of Whiting and Hammond. Designed for long-term tenants, this asset provides consistent cash flow and is an ideal choice for buyers seeking a 1031 exchange.
Key Features
This 3,600 sq. ft. office building features two well-structured units: Suite A offers 2,520 sq. ft. and Suite B provides 1,080 sq. ft. Set on a 0.43-acre lot, the property includes 27 parking spaces, a significant benefit given the limited public parking in the area, especially during events like Pierogi Fest. Built from the ground up in 2008, the building is in excellent condition and is zoned C1, allowing for a variety of business uses.
Financials
Listed at $895,000, this property presents an attractive financial profile for 1031 exchange investors:
Gross Rental Income:
Suite A: $5,400/month ($64,800/year)
Suite B: $2,200/month ($26,400/year)
Parking Rentals: $4,000/year
Total Gross Income: $95,200/year
Operating Expenses:
Property Taxes: $18,000/year
Insurance: $4,000/year
Lawn Care and Snow Removal: $2,000/year
Total Operating Expenses: $24,000/year
Net Operating Income (NOI):
$95,200 - $24,000 = $71,200/year
Projected Cap Rate:
Cap Rate = NOI / Purchase Price
Cap Rate = $71,200 / $895,000 ˜ 7.95%
This cap rate positions the property as a strong income-generating asset, ideal for investors looking to preserve capital through a 1031 exchange while obtaining favorable cash flow.
Market Context
Currently, the market shows low availability of investment-grade properties suitable for 1031 exchanges, making this opportunity even more compelling. The demand for office space in this area is on the rise, ensuring strong tenant retention and minimal vacancy risks.
Investment Highlights
Stable Cash Flow: With fully leased units and reliable tenants, this property offers predictable income streams.
Potential for Growth: Opportunities exist for future rent increases, enhancing returns further.
Development Potential: Zoning allows for flexibility in usage, potentially increasing the property’s value over time.
Access and Amenities
Conveniently located with quick access to the Skyway to Chicago and downtown Whiting, this property is positioned perfectly for business operations and client accessibility. Local amenities, including restaurants and shops, further enhance its attractiveness.
This investment opportunity not only aligns with your financial goals but also provides a solid foundation for your portfolio.