Medical Office
For Sale
Contact for pricing
11376 Broadway, Crown Point, IN 46307
Single-story brick layout includes exam rooms, procedure space, reception, storage, and two bathrooms.
Property Size2,375 SF
Price / SF$210.11
Days on Market104
Property Features for 11376 Broadway
General Information
Standard status
Active
Size
2,375 SF
Property subtype
Office
Zoning
B-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
1
HOA Fee
$552.89
Office Units
3
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Multi
Construction
brick
Listing Agency:
Commercial In-Sites LLC
(219) 795-1100
Listed By:
David Lasser · License #IN RB14026085
Source:
Crexi
Added: May 19
Changed: Aug 30
Last Checked: Aug 30 at 4:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial In-Sites LLC
Investment Insights
Based on property information with market context.
This 2,375 SF office condominium is arranged as 3 separate units within a one-story brick building. The interior includes a waiting area with slider window, reception office, private office, 6 exam rooms, a procedure room, utility area, break room, storage closet, and two bathrooms. Double drywall in each exam room provides sound separation, while an existing washer/dryer hookup supports operational flexibility. The space is suitable for a medical office, lab drawings, infusion center, or outpatient imaging use.
The property is positioned on Broadway within a medical-oriented corridor and records 2025 INDOT traffic counts of 14,807 cars per day. Methodist Hospital, Pinnacle Hospital, Community Stroke and Rehab, Outpatient VA Services, University of Chicago, Lakeshore Bone & Joint, Northwest Cancer Centers, and Franciscan Hospital are all within 4 miles. Access includes I-65, Broadway, 109th, and Route 30, with the property located 1 1/4 miles southwest of the I-65/109th Avenue interchange and 1 1/4 miles northwest of the I-65/S.R. 231 interchange. The property is zoned B-2.
The property is positioned on Broadway within a medical-oriented corridor and records 2025 INDOT traffic counts of 14,807 cars per day. Methodist Hospital, Pinnacle Hospital, Community Stroke and Rehab, Outpatient VA Services, University of Chicago, Lakeshore Bone & Joint, Northwest Cancer Centers, and Franciscan Hospital are all within 4 miles. Access includes I-65, Broadway, 109th, and Route 30, with the property located 1 1/4 miles southwest of the I-65/109th Avenue interchange and 1 1/4 miles northwest of the I-65/S.R. 231 interchange. The property is zoned B-2.
Key Highlights
- 2,375 SF office condominium with 3 separate units
- Medical‑oriented layout with 6 exam rooms, procedure room, reception, and waiting area
- One‑story brick office building with two bathrooms and washer/dryer hookup
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
$33,242
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
6.66%
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%
$664,840
$664.8K
Cap Rate 7%
$474,886
$474.9K
Cap Rate 9%
$369,356
$369.4K
Market Conditions
NOI Build-Up for 2,375 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
$61.6K $25.92/SF
− Vacancy
−$6.2K −$2.59/SF
EGI
$55.4K $23.33/SF
− OpEx
−$22.2K −$9.33/SF
NOI
$33.2K $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%
$664,840
Cap Rate 7%
$474,886
Cap Rate 9%
$369,356
Alternative Uses
Best Use
Healthcare Medical
$474.9K
$415.5K – $554.0K
NOI $33,242 @ 7.0% cap · market cap 6.66%
Second Best
Office B
$430.4K
$376.6K – $502.1K
NOI $30,126 @ 7.0% cap · market cap 6.04%
Theoretical Best
Specialty Retail
$663.0K
$580.1K – $773.5K
NOI $46,410 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
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 - Single-story brick layout includes exam rooms, procedure space, reception, storage, and two bathrooms.
Where is this office units located?
The property is located at 11376 Broadway Crown Point, IN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,375 SF office condominium with 3 separate units; Medical‑oriented layout with 6 exam rooms, procedure room, reception, and waiting area; One‑story brick office building with two bathrooms and washer/dryer hookup
