Schererville Office Condo For
For Sale
$289,000
940 W Us-30, Schererville, IN 46375
SINGLE_FAMILY - Schererville, IN
Property Size1,238 SF
Lot Size1.30 Acres
Price / SF$233.44
Days on Market190
Property Features for 940 W Us-30
General Information
Property type
Residential
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
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: Apr 23
Last Checked: Aug 7 at 2:06PM
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 is located at the signalized corner of US 41 and US 30 in Schererville. Constructed in 2008 and built out in 2011, the suite features four private offices, a conference room, a kitchenette, an ADA-compliant private restroom, and three lockable storage closets with built-in shelving. The layout is well suited for medical, professional, or service-oriented users, as it was formerly occupied by an in-home healthcare provider. The building, zoned commercial, offers ample shared parking at both the front and rear, with access from both entrances. The second-floor unit is accessible via both elevator and stair access, and a common area restroom is available on site. A Property Owners Association (POA) is in place and employs a professional management company to maintain the building, which sits on a 1.3-acre lot. Common Area Maintenance (CAM) is charged quarterly and allocated based on each unit's square footage. The property offers excellent exposure with strong traffic counts, and new development is planned nearby. It is ideal for an owner-user or investor seeking a well-located office condo in a high-traffic corridor.
Key Highlights
- High‑visibility location at the signalized corner of US 41 and US 30.
- Well‑suited layout for medical, professional, or service‑oriented users with four private offices, a conference room, and kitchenette.
- Ample shared parking with front and rear access.
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
$17,328
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
6.00%
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%
$346,560
$346.6K
Cap Rate 7%
$247,543
$247.5K
Cap Rate 9%
$192,533
$192.5K
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
$32.1K $25.92/SF
− Vacancy
−$3.2K −$2.59/SF
EGI
$28.9K $23.33/SF
− OpEx
−$11.6K −$9.33/SF
NOI
$17.3K $14.00/SF
Area
Lake County, IN
Vacancy
10.00%
Lease Rate
$25.92 /SF/Yr
Expense Ratio
40.00%
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%
$346,560
Cap Rate 7%
$247,543
Cap Rate 9%
$192,533
Alternative Uses
Best Use
Healthcare Medical
$247.5K
$216.6K – $288.8K
NOI $17,328 @ 7.0% cap · market cap 6.00%
Second Best
Office B
$224.3K
$196.3K – $261.7K
NOI $15,704 @ 7.0% cap · market cap 5.43%
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
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
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 - High-visibility office condo ideal for owner-user or investor.
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: High‑visibility location at the signalized corner of US 41 and US 30.; Well‑suited layout for medical, professional, or service‑oriented users with four private offices, a conference room, and kitchenette.; Ample shared parking with front and rear access.
