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    9404 Margo Ln Munster, IN 46321

    Sponsored
    For Sale
    $3,700,000

    COMMERCIAL - Munster, IN

    Type:Office
    Property size:
    14,534 SF
    Lot size:
    2.33 Acres
    Days on Market:
    4
    Last Refresh:
    Jan 19 at 1:06 pm

    Property Features for 9404 Margo Ln

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    Zoning
    COMMR
    APN
    450625300013000027
    Size
    14,534 SF
    Lot size
    2.33 Acres

    Utilities

    Utilities
    Natural Gas Available
    Cooling system
    Central Air

    Building Details

    Year built
    2017
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Vinyl, Carpet
    Building materials
    Brick, Steel Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Michael Tezak

    Realty Executives Premier (219) 405-3647 [email protected]

    Listing agent Bill Port (219) 613-7527

    Listing date Jan 16, 2026

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Premium Office/Medical Space For Sale

    Located in Munster's Business Corridor near the Indiana/Illinois border, this property offers premium office or medical space. The existing structure includes a 13,382 square foot office building and an additional 1,152 square foot, 4-car garage, totaling 14,534 square feet. Constructed in 2017, the building features a reception and waiting area, a conference room with seating for 16, and a modern break area. The open office area includes over 50 workstations, a copy room, and acoustical ceiling clouds. There are 11 private executive offices, multiple restrooms, and an employee break room with a full kitchen. A shipping and warehouse area is located behind the offices. The property includes furnishings, desks, chairs, cabinetry, and workstations. The 2.33-acre lot has room for future construction. The exterior parking lot provides 63 parking spaces and 4 garage spaces. Situated adjacent to 45th Street and Margo Lane, the property is near three area hospitals and approximately 3 miles from the Dyer South Shore Commuter Train Station and less than 3 miles from the new Munster South Shore Train station. The Lansing, IL Municipal Airport is just 1 mile away. The new South Shore commuter train is nearly complete.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Payroc Corporate Office

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Munster
    County
    Lake
    State
    Indiana
    Longitude
    -87.521617
    Latitude
    41.534078

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    FAQs

    What type of property is this?
    Office building - Turn-key office/medical space near Indiana/Illinois border with room to build.
    Where is this office building located?
    The property is located at 9404 Margo Ln Munster, IN.
    What is the asking price?
    The asking price for this property is $3,700,000.
    What are key features of this property?
    This property features: - Prime location in Munster's Business Corridor, near the Indiana/Illinois border, offering convenient access to Chicago.; - Turn-key office/medical space featuring **11 private executive offices and 50+ workstations**, complete with furnishings.; - Modern building (built in 2017) with an **impressive reception and a conference room that seats 16**.
    (219) 613-7527
    Request Owner's contact information
    9404 Margo Ln Munster, IN 46321
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    Munster, IN 46321
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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
    9404 Margo Ln Munster, IN 46321
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    We can help!
    Listing Contact
    Michael Tezak
    (219) 613-7527
    Learn more
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