Second-Floor Office
For Sale
$289,000
940 W Us-30, Schererville, IN 46375
Commercial Sale, Schererville, IN
Property Size1,238 SF
Lot Size1.30 Acres
Price / SF$233.44
Days on Market239
Property Features for 940 W Us-30
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking
66
Security features
Security Lighting
Appliances
Refrigerator, Water Heater
Subdivision
Fountain Park Office Condo East
Directions
From the intersection of US-30 and US-41, head east on US-30. The property is located shortly past the intersection on the south side of the road. The office is on the 2nd Floor.
Standard status
Active
APN
451117226019000036
Size
1,238 SF
Lot size
1.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
FOUNTAIN PARK OFFICE CONDOMINIUM EAST UNIT 940
Tax Annual Amount
4609
Legal Description
FOUNTAIN PARK OFFICE CONDOMINIUM EAST UNIT 940
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
common area restroom
Building Details
Year built
2008
Listing Agency:
McColly Real Estate
(219) 462-2411
Listed By:
Adriana Gomez · License #RB25000377
(317) 431-6130
Added: Jan 29
Changed: Aug 19
Last Checked: Sep 25 at 8:06AM
MLS# 833439
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 1,238-square-foot second-floor office condo includes four private offices, a conference room, kitchenette, ADA-compliant private restroom, and three lockable storage closets with built-in shelving. The unit was delivered as a custom shell in 2011 within a building constructed in 2008. Elevator and stair access serve the suite, while a common-area restroom is also available.
The property occupies the signalized intersection of US 41 and US 30 in Schererville, with shared parking at the front and rear and entry points on both sides of the building. Commercial zoning supports the office configuration, and the property includes public water and public sewer service. A Property Owners Association uses professional management for building maintenance, with CAM allocated quarterly according to unit square footage.
The property occupies the signalized intersection of US 41 and US 30 in Schererville, with shared parking at the front and rear and entry points on both sides of the building. Commercial zoning supports the office configuration, and the property includes public water and public sewer service. A Property Owners Association uses professional management for building maintenance, with CAM allocated quarterly according to unit square footage.
Key Highlights
- 1,238 SF second‑floor office condo at the signalized intersection of US 41 and US 30
- Four private offices, conference room, kitchenette, ADA‑compliant restroom, and three storage closets
- Elevator and stair access to the second‑floor suite
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
$15,704
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
5.43%
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%
$314,080
$314.1K
Cap Rate 7%
$224,343
$224.3K
Cap Rate 9%
$174,489
$174.5K
Market Conditions
NOI Build-Up for 1,238 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
$26.7K $21.60/SF
− Vacancy
−$5.8K −$4.69/SF
EGI
$20.9K $16.91/SF
− OpEx
−$5.2K −$4.23/SF
NOI
$15.7K $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%
$314,080
Cap Rate 7%
$224,343
Cap Rate 9%
$174,489
Alternative Uses
Best Use
Office B
$224.3K
$196.3K – $261.7K
NOI $15,704 @ 7.0% cap · market cap 5.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
834
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
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Four private offices, a conference room, kitchenette, restroom, and lockable storage support professional and service-oriented users.
Where is this office units located?
The property is located at 940 W Us-30 Schererville, IN.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 1,238 SF second‑floor office condo at the signalized intersection of US 41 and US 30; Four private offices, conference room, kitchenette, ADA‑compliant restroom, and three storage closets; Elevator and stair access to the second‑floor suite
