Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical Office Sublet Opportunity Title is generated by Realmo AI

    311 East 89th Avenue, Merrillville, IN 46410

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $19 SF/Yr

    Medical office sublet on Methodist Hospital Southlake campus.

    Added:
    Jan 27, 2026
    Days on Market:
    102
    Last Refresh:
    Jan 6 at 9:17 pm

    Property Features for 311 East 89th Avenue

    General Information

    Standard status
    Active

    Spaces For Lease

    at 311 East 89th Avenue Contact us

    We can help!

    Listing Contact
    Stephanie Bosanac-Mortimer
    Stephanie Bosanac-Mortimer

    Listing agent Stephanie Bosanac-Mortimer

    Listing office Bradley Company | Merrillville

    Listing date Jan 27, 2026

    Source Bradleyco

    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 Bradley Company | Merrillville

    HighLights

    • Medical office sublet located on the campus of Methodist Hospital Southlake.
    • Features a reception office, nurses station, four exam rooms, two procedure rooms, and a patient recovery room.
    • Sublease expires in February 2029.
    • Recently renovated for current tenant.
    • Shared waiting room with patient restroom.
    • Access to common washrooms and breakroom.

    Overview

    This medical office space is available for sublet on the campus of Methodist Hospital Southlake. Constructed with all brick in 1996, the office was recently renovated for the current tenant. The layout includes a reception office, a nurses station, four exam rooms, and two procedure rooms, as well as a patient recovery room. The space also features a shared waiting room with a patient restroom. Tenants have access to common washrooms and a breakroom. The sublease expires in February of 2029.
    Location Intelligence

    Current Use by Public Records

    Keri Whitcomb, NP Physician Fadi Alzeidan, MD Pediatrician Vijay Purushottam Shah, ... Physician Heart Clinics PC Medical Clinic Pinnacle Dermatology - Merrillville Medical Clinic

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.3397
    Latitude
    41.4574

    Nearby Similar for Lease

    • $16 SF/Yr

      Spacious Building on Route 30

      16,660 SF building suitable for medical or commercial use.
      4200 W Lincoln Highway, Merrillville, IN 46410
      View Details
    • $37,113 SF/Yr

      Merrillville Office Building For Lease

      Professionally reconfigured office building with modern improvements and excellent access.
      8401 Ohio Street, Merrillville, IN 46410
      View Details
    • $2.00 SF/Yr

      Spacious Office Space in Merrillville

      10,000 SQFT office space with 30+ private offices.
      8396 Mississippi Street, Merrillville, IN 46410
      View Details
    • $15 SF/Yr

      Class A Office Space Available

      Class A office space in Merrillville Corporate Center for lease.
      8001 Broadway, Merrillville, IN
      View Details
    • $2,750/Mo

      Merrillville Flex/Industrial Space For Rent

      Flex/industrial space available for lease in Merrillville, Indiana.
      101-107 W 78th Place NW, Merrillville, IN 46410
      View Details
    • Sponsored
      Contact for pricing

      IN, Merrillville - Mississippi St

      8396 Mississippi St, Unit C, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Merrillville Office Space For Rent

      900 SF office space with reception, office, and conference room.
      280 W 80th Pl, Merrillville, IN 46410
      View Details
    • $20 SF/Yr

      Prominent Office Tower in Merrillville

      60,000+ SF contiguous office space available near I-65.
      8585 Broadway, Merrillville, IN 46410
      View Details
    • $4,000/Mo

      NW Indiana Redevelopment Opportunity

      Centrally located building near retail and major redevelopment.
      1441 e 82nd Ave, Merrillville , IN 46410
      View Details
    • Contact for pricing

      Landmark Office Building, Renovated

      Prominent, renovated office building near I-65 and Methodist Hospital.
      8585 Broadway, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Retail Space in Merrillville Center

      3,774 SF retail space in a high-traffic Merrillville location.
      1600 79th Ave, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Retail and Office Strip Center

      Multi-tenant strip center ideal for retail and office users.
      7950-7990 Broadway, Merrillville, IN 46410
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office sublet on Methodist Hospital Southlake campus.
    Where is this medical office space located?
    The property is located at 311 East 89th Avenue Merrillville, IN.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Medical office sublet located on the campus of Methodist Hospital Southlake.; Features a reception office, nurses station, four exam rooms, two procedure rooms, and a patient recovery room.; Sublease expires in February 2029.
    (219) 650-6500
    We can help!
    Listing Contact
    Stephanie Bosanac-Mortimer
    Stephanie Bosanac-Mortimer
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    311 East 89th Avenue, Merrillville, IN 46410
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!