Flex Office and Heated
8213 Clay Street, Merrillville, IN 46410
New
SINGLE_FAMILY - Merrillville, IN
Type:Office
Property size:
1,550 SFLot size:
0.46 AcresPrice / SF:
$154/SF- Added:
- Jun 26, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 26 at 10:06 pm
Property Features for 8213 Clay Street
General Information
- Property type
- Residential
- Property subtype
- Office
- Parking
- 2
- Parking features
- Oversize, Off Street, Garage, Open, Driveway
- Security features
- Security Lighting
- Exterior features
- Storage
- Basement
- Crawl Space
- Appliances
- Microwave, Stainless Steel Appliance(s), Refrigerator
- Standard status
- Active
- APN
- 451319301012000046
- Size
- 1,550 SF
- Lot size
- 0.46 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- TODD PARK PART OF LOT 2 PARCEL 100X200FT.
- Tax Annual Amount
- 3066
Utilities
- Utilities
- Cable Available
- Sewer type
- Septic Tank
- Heating system
- Central
- Water source
- Well
Building Details
- Year built
- 1950
- Additional Structures
- Storage
Listing agent Jana Caudill License #RB14024542 (219) 661-1256
Listing office eXp Realty, LLC 503 E. Summit St Ste 2, IN (888) 611-3912
Listing date Jun 26, 2026
MLS# 841338
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
- 2‑building commercial property with 800 SF main office plus a 750 SF fully heated flex garage for storage, shipping, inventory, or fleet parking
- Main commercial office converted and updated with 11' x 15' executive office, 11' x 10' private office, and bright open‑concept central workspace
- 2024 upgrades to Building 1 include new luxury vinyl plank (LVP) flooring, upgraded kitchenette/break room, and modernized restroom
- 2024 improvements to Building 2 include added 16 sq ft of vertical height clearance and a new 8' x 15'6" overhead garage door
- Well and septic services; crawl space has two sump pumps, plus whole‑property Generac generator backup system
- B‑3 (General Business District) zoning supports flexible, high‑utility commercial operations
Overview
This property includes two distinct commercial buildings totaling 1,550 square feet on a 0.459-acre lot. Building 1 is an 800-square-foot main commercial office, converted in 2007 and refreshed with high-end finishes in 2024. The layout features an 11' x 15' executive office, an 11' x 10' private office, and a bright open-concept central workspace suited for reception or team work. Recent improvements include brand-new luxury vinyl plank flooring, a completely upgraded kitchenette/break room, and a modernized restroom, along with dedicated IT and additional utility closets. The crawl space includes two sump pumps, and the property is supported by a whole-property Generac generator system.
Building 2 is a 750-square-foot fully heated flex garage designed for storage, shipping, inventory, or fleet parking. The heated workspace supports year-round use, and 2024 enhancements include structural upgrades for additional vertical height clearance and a newly installed 8' x 15'6" overhead garage door for loading and logistics. The property is serviced by well and septic.
Zoned B-3 (General Business District), the site supports flexible, higher-utility commercial operations. It is located in the business-friendly municipality of Hobart while using a Merrillville mailing address for regional recognition, supporting both office and operations needs in one compact footprint.
Building 2 is a 750-square-foot fully heated flex garage designed for storage, shipping, inventory, or fleet parking. The heated workspace supports year-round use, and 2024 enhancements include structural upgrades for additional vertical height clearance and a newly installed 8' x 15'6" overhead garage door for loading and logistics. The property is serviced by well and septic.
Zoned B-3 (General Business District), the site supports flexible, higher-utility commercial operations. It is located in the business-friendly municipality of Hobart while using a Merrillville mailing address for regional recognition, supporting both office and operations needs in one compact footprint.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.5k | $21.60 |
| − Vacancy | −$7.3k | −$4.69 |
| EGI | $26.2k | $16.91 |
| − OpEx | −$6.6k | −$4.23 |
| NOI | $19.7k | $12.68 |
1,550 SF · lease $21.60/SF/yr · vacancy 21.70% · expense 25.00%
Alternative Uses
Best Use
Office B
$280.9K
$245.8K – $327.7K
NOI $19,661 @ 7.0% cap · market cap 8.20%
Second Best
Warehouse
$156.0K
$136.5K – $182.0K
NOI $10,919 @ 7.0% cap · market cap 4.55%
Theoretical Best
Specialty Retail
$432.7K
$378.6K – $504.8K
NOI $30,289 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Wheeler Technologies
Sanitation Service
Location Insight
- Map
- Local Demand
- City
- Merrillville
- County
- Lake
- State
- Indiana
- Longitude
- -87.277415
- Latitude
- 41.468265
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Two-building setup with a renovated office and fully heated garage for storage, shipping, or fleet parking.
Where is this flex space located?
The property is located at 8213 Clay Street Merrillville, IN.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 2‑building commercial property with 800 SF main office plus a 750 SF fully heated flex garage for storage, shipping, inventory, or fleet parking; Main commercial office converted and updated with 11' x 15' executive office, 11' x 10' private office, and bright open‑concept central workspace; 2024 upgrades to Building 1 include new luxury vinyl plank (LVP) flooring, upgraded kitchenette/break room, and modernized restroom
