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    Clean Warehouse with Shipping Door Title is generated by Realmo AI

    2246 Industrial Drive, Highland, IN 46322

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    For Lease
    Under Contract
    $3,425/Mo $12 SF/Yr (calc)

    COMMERCIAL - Highland, IN

    Property size:
    3,425 SF
    Lot size:
    0.79 Acres
    Added:
    Feb 18, 2026
    Days on Market:
    107
    Last Refresh:
    Jun 5 at 2:06 am

    Property Features for 2246 Industrial Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Security features
    Security Lighting
    Exterior features
    Lighting
    Standard status
    Active Under Contract
    Size
    3,425 SF
    Lot size
    0.79 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Legal Description: MONTAGUE ADDITION LOT #4

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1995

    We can help!

    Listing Contact
    John Jurisa

    Listing agent John Jurisa License #RB14015060

    Listing office Weichert, Realtors-Moke Agency 617 N. Main St, Crown Point, IN

    Listing date Feb 18, 2026

    MLS# 834190

    Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Modified gross lease; no CAM. Rental rate listed as $12/SF/year (equals $3,425/month). Available now.
    • Warehouse includes a 14 ft tall by 12 ft wide shipping/receiving door and approximately 18 ft clear‑span center ceiling.
    • Approximate 48 x 70 gross warehouse space plus a bathroom.
    • Ample customer/employee parking at both front and rear.
    • Utilities: forced air heating with natural gas; public water and public sewer. Cable available.
    • Town of Highland zoned B‑3; tenant pays gas, electric, water, sewer, scavenger, and business liability insurance; owner pays real estate taxes and building insurance.

    Overview

    This modified gross lease warehouse offers a clean, functional layout with one shipping/receiving door measuring 14 ft tall by 12 ft wide. The interior has an 18 ft clear span center ceiling, supported by an approximately 48 x 70 gross space and a bathroom. The property includes ample customer and employee parking at both the front and rear.

    The site is located in the southwest quadrant of 45th Avenue and Indianapolis Blvd (U.S. 41), with the property positioned south of I-80/94 and north of U.S. 30. It has been used previously by businesses including Sign Point, Fastenal, Holy Cow Canvas, and Organic Bread of Heaven.

    Town of Highland zoning is B-3. The lease structure is modified gross with no CAM. Tenant responsibilities include gas, electric, water, sewer, scavenger service, and business liability insurance, while the owner covers real estate taxes and building insurance. Auto, truck, and heavy equipment sales or services are not allowed. Prospective tenants should contact the Town of Highland regarding proposed use; a possible credit check may be required at the prospect’s expense, with a two-month security deposit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

    • Hi Tec Self Storage — 1834 45th St, Munster, IN 46321
    • Hi Tec Self Storage- Munster — 1834 45th st, munster, in 46321

    Map

    City
    Highland
    County
    Vermillion
    State
    Indiana
    Longitude
    -87.473801
    Latitude
    41.534804

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    FAQs

    What type of property is this?
    Warehouse - Clean industrial space with a single shipping/receiving door and ample front and rear parking for staff and customers.
    Where is this warehouse located?
    The property is located at 2246 Industrial Drive Highland, IN.
    What is the lease rate?
    The lease rate is $3,425 /Mo.
    What are key features of this property?
    This property features: Modified gross lease; no CAM. Rental rate listed as $12/SF/year (equals $3,425/month). Available now.; Warehouse includes a 14 ft tall by 12 ft wide shipping/receiving door and approximately 18 ft clear‑span center ceiling.; Approximate 48 x 70 gross warehouse space plus a bathroom.
    (219) 718-5531
    We can help!
    Listing Contact
    John Jurisa
    Real Estate License ID: RB14015060
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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