Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    9947 Expressway Dr Highland, IN 46322

    Sponsored
    For Lease
    $9 SF/Yr ($4,702 /Mo)

    COMMERCIAL - Highland, IN

    Property size:
    6,270 SF
    Lot size:
    0.52 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 27 at 5:06 pm

    Property Features for 9947 Expressway Dr

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    450733152011000026
    Size
    6,270 SF
    Lot size
    0.52 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Zoned
    Water source
    Public

    Building Details

    Year built
    1979

    We can help!

    Listing Contact
    Anthony Christopher

    McColly Real Estate (219) 864-7200

    Listing agent Anthony Christopher (708) 715-6193

    Listing date Jan 27, 2026

    MLS# 833277

    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.

    Learn more

    Property Insight Report

    Overview

    Highland, IN Light Industrial Space

    This light industrial building offers over 6,000 square feet of space and is available for lease. It can be leased as a full building or divided into two units. The property includes a large, fully fenced lot suitable for car, truck, or equipment storage. Situated just off Indianapolis Boulevard in Highland, Indiana, the location provides business advantages and is located minutes from the Illinois border, offering accessibility for regional operations. The lot size is 0.517 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Highland
    County
    Vermillion
    State
    Indiana
    Longitude
    -87.467313
    Latitude
    41.532406

    Nearby Similar for Lease

    • $6,666 /Mo
      4,100 SF

      Highland Retail/Office Lease Opportunity

      Multi-tenant retail/office building with customizable suites in Highland, Indiana.
      2427 Ridge Rd, Highland, IN 46322
      View Details
    • $2,450 /Mo
      17,344 SF

      Highland Office Space For Rent

      Second floor office space available with elevator access.
      9008 Cline Ave, Highland, IN 46322
      View Details
    • New
      $4,188 /Mo
      3,000 SF

      Highland Industrial Warehouse Space Available

      3000 sq ft industrial warehouse space for lease.
      9934 Expressway Dr, Highland, IN 46322
      View Details
    • $18 SF/Yr
      2,500 SF

      Retail Space in Highland Center

      Multi-tenant shopping center with available units for lease.
      9521 Indianapolis Blvd, Highland, IN
      View Details
    • $16 SF/Yr
      500 SF

      Medical Office Space Available

      Three-unit brick building with spaces for lease.
      3445 Rdg Rd, Highland, IN
      View Details
    • $14 SF/Yr
      2,817 SF

      Renovated Office Space Available

      Second-floor office space with elevator access in Highland, Indiana.
      2611 Hwy Ave, Highland, IN
      View Details
    • $13 SF/Yr
      13,074 SF

      Highland Executive Office Space

      Prime location, 1,905 sq ft available
      9105-A Indianapolis Blvd, Highland, IN 46322
      View Details
    • Contact for pricing
      15,029 SF

      Boulevard Commons Retail Space

      High-traffic retail center, Schererville, IN
      7725 Us Hwy 41, Highland, IN 46322
      View Details
    • $18 SF/Yr
      4,892 SF

      Highland Office Space: Kennedy Ave

      Class A Office, High Visibility, 2,446 SF Available
      8845 Kennedy Ave, Highland, IN 46322
      View Details
    • $12 SF/Yr
      88,588 SF

      Highland Retail Plaza Investment

      Prime Highland, IN retail space available.
      2008-2124 45 St, Highland, IN 46322
      View Details
    • $16 SF/Yr
      2,414 SF

      Highland Office Building For Lease

      Prime Highland location, renovated office space.
      2708 45 St, Highland, IN 46322
      View Details
    • Contact for pricing
      7,045 SF

      Highland Retail Center Opportunity

      Prime Highland retail space; 5,666 sq ft available.
      2939 45 St, Highland, IN 46322
      View Details

    FAQs

    What type of property is this?
    Industrial property - Versatile light industrial building with fenced lot near Illinois border.
    Where is this industrial property located?
    The property is located at 9947 Expressway Dr Highland, IN.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: - Over 6,000 SF of light industrial space.; - Divisible into two units for flexible use.; - Large, fully fenced lot suitable for storage.
    (708) 715-6193
    Request Owner's contact information
    9947 Expressway Dr Highland, IN 46322
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9947 Expressway Dr
    Highland, IN 46322
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    9947 Expressway Dr Highland, IN 46322
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Anthony Christopher
    (708) 715-6193
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.