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    Office Condominiums Along US-41 Corridor Title is generated by Realmo AI

    8025 Wicker Avenue, St John, IN 46373

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    For Sale
    $514,000

    SINGLE_FAMILY - St. John, IN

    Type:Office
    Property size:
    2,400 SF
    Lot size:
    3.12 Acres
    Price / SF:
    $214/SF
    Added:
    Mar 10, 2026
    Days on Market:
    73
    Last Refresh:
    May 21 at 11:06 pm

    Property Features for 8025 Wicker Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Parking
    20
    Interior features
    Ceiling Fan(s), Open Floorplan, High Ceilings, Entrance Foyer
    Appliances
    Microwave, Refrigerator
    Standard status
    Active
    APN
    451121152002000036*
    Size
    2,400 SF
    Lot size
    3.12 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    TRI-TOWN COMMONS UNIT B & TRI-TOWN COMMONS UNIT C
    Tax Annual Amount
    5404

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    2008

    We can help!

    Listing Contact
    Jeffrey Fryzel

    Listing agent Jeffrey Fryzel License #475168697

    Listing office McColly Real Estate 850 Deer Creek Dr, Schererville, IN

    Listing date Mar 10, 2026

    MLS# 835203

    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

    • Highly visible location on US‑41 with monument signage opportunity, providing excellent business exposure.
    • Two adjacent 1,200 SF office suites (totaling 2,400 SF) offer flexibility to occupy both, lease one, or combine into a larger space.
    • Flexible layout with reception areas, open workspaces, enclosed offices, conference rooms, kitchen facilities, restrooms, and storage.
    • Suites are vacant and available for immediate occupancy or tenant placement.
    • Suites suitable for a wide range of professional or service‑based businesses, including medical/dental practices.
    • Owner financing may be considered for qualified buyers.

    Overview

    Two adjacent office condominiums, totaling approximately 2,400 square feet, are available along the US-41 corridor in St. John, near the Schererville border. Monument signage provides business visibility with traffic exposure. The offering includes two 1,200-square-foot office suites that can function independently or be combined. The spaces feature reception areas, open workspaces, enclosed offices, conference rooms, kitchen facilities, restrooms, and storage. This layout is suitable for professional or service-based businesses. Buyers have multiple possibilities, including occupying both suites, customizing the layout, or occupying one unit while leasing the other for income. The reception and office layouts may suit medical, dental, wellness, or other client-service professional practices. The property is part of a tenant-managed HOA. Both units are vacant and available for immediate occupancy or tenant placement. The property is located in Lake County, Indiana. The lot size is 3.1242 acres.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $338.3K
    NOI $30,443 @ 9.00% cap · cautious / downside scenario
    Moderate
    $434.9K
    NOI $30,443 @ 7.00% cap · market / base-case scenario
    Aggressive
    $608.9K
    NOI $30,443 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Office B

    Component $ $/SF
    Gross rent $51.8k $21.60
    − Vacancy −$11.2k −$4.69
    EGI $40.6k $16.91
    − OpEx −$10.1k −$4.23
    NOI $30.4k $12.68
    2,400 SF · lease $21.60/SF/yr · vacancy 21.70% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $434.9K
    $380.5K – $507.4K (±1% cap)
    NOI $30,443 @ 7.0% cap · market cap 5.92%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $670.0K
    $586.2K – $781.7K (±1% cap)
    NOI $46,899 @ 7.0% cap · market cap 9.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jessica Ivin, Realtor Real Estate Agency Caitlin Marsee, Rossi ... Real Estate Agency Arvia Appraisals, LLC Real Estate Agency Pamela Dixon, Realtor® Real Estate Agency Dawn Magagnotti, Magagnotti ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St John
    County
    Lake
    State
    Indiana
    Longitude
    -87.468447
    Latitude
    41.473167

    FAQs

    What type of property is this?
    Office units - Two adjacent office condos in St. John, near Schererville.
    Where is this office units located?
    The property is located at 8025 Wicker Avenue St John, IN.
    What is the asking price?
    The asking price for this property is $514,000.
    What are key features of this property?
    This property features: Highly visible location on US‑41 with monument signage opportunity, providing excellent business exposure.; Two adjacent 1,200 SF office suites (totaling 2,400 SF) offer flexibility to occupy both, lease one, or combine into a larger space.; Flexible layout with reception areas, open workspaces, enclosed offices, conference rooms, kitchen facilities, restrooms, and storage.
    (708) 243-1827
    We can help!
    Listing Contact
    Jeffrey Fryzel
    Real Estate License ID: 475168697
    Learn More
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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.

    More about this property
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