Two-Story Office
For Sale
$295,900
900 Parker Place, Schererville, IN 46375
Commercial Sale, Schererville, IN
Property Size1,682 SF
Lot Size0.61 Acres
Price / SF$175.92
Days on Market512
Property Features for 900 Parker Place
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
10
Exterior features
Lighting
Appliances
Refrigerator
Subdivision
900 Parker Place Office Condo
Lot features
Landscaped, Paved
Directions
Rt 41 to Parker Place.
Standard status
Active
APN
451108477004000036
Size
1,682 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
900 PARKER PLACE OFFICE CONDOMINIUM UNIT D
Tax Annual Amount
3502
Legal Description
900 PARKER PLACE OFFICE CONDOMINIUM UNIT D
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2003
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Suzanne Herrmann · License #475150205
(219) 613-4219
Added: Apr 24, 2025
Changed: Aug 19
Last Checked: Sep 17 at 2:06PM
MLS# 819594
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.
Investment Insights
Based on property information with market context.
This 1,682-square-foot office unit is arranged across two stories with an open work area, reception area, private workroom, bathroom, tank closet, and storage. The upper level adds an open loft, office area, private workspace, and kitchenette with a break room. The property was built in 2003 and is equipped with forced-air heating, lighting, a refrigerator, public water, and public sewer.
The 0.61-acre property includes on-site parking and is currently used as a dental lab. Its combination of open and enclosed areas supports a range of professional office configurations while retaining practical support space for daily operations.
The 0.61-acre property includes on-site parking and is currently used as a dental lab. Its combination of open and enclosed areas supports a range of professional office configurations while retaining practical support space for daily operations.
Key Highlights
- 1,682‑square‑foot office unit on a 0.61‑acre property
- Two‑story layout with open work areas and an upper‑level loft
- Reception area, private workroom, bathroom, tank closet, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,335
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$426,700
$426.7K
Cap Rate 7%
$304,786
$304.8K
Cap Rate 9%
$237,056
$237.1K
Market Conditions
NOI Build-Up for 1,682 SF
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.
Gross rent
$36.3K $21.60/SF
− Vacancy
−$7.9K −$4.69/SF
EGI
$28.4K $16.91/SF
− OpEx
−$7.1K −$4.23/SF
NOI
$21.3K $12.68/SF
Area
Lake County, IN
Vacancy
21.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$426,700
Cap Rate 7%
$304,786
Cap Rate 9%
$237,056
Alternative Uses
Best Use
Office B
$304.8K
$266.7K – $355.6K
NOI $21,335 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$469.5K
$410.9K – $547.8K
NOI $32,868 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Explore this area
Business Placement
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Professional workspace with reception, private rooms, storage, and an upper-level loft with kitchenette and break area.
Where is this office units located?
The property is located at 900 Parker Place Schererville, IN.
What is the asking price?
The asking price for this property is $295,900.
What are key features of this property?
This property features: 1,682‑square‑foot office unit on a 0.61‑acre property; Two‑story layout with open work areas and an upper‑level loft; Reception area, private workroom, bathroom, tank closet, and storage
