Turnkey Medical Office
1646 45th Street Munster, IN 46321
1646 45th Street, Munster, IN, 46321
$425,000
For Sale
$425,000
2,400 SF medical office condo for sale in Munster.
Property Size2,400 SF
Price / SF$177.08
Days on Market106
Property Features for 1646 45th Street
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Office
Building Details
- Year Built
- 1974
Listing agency
Latitude Commercial
(317) 658-5005
Listed by
Antony Miocic · License #IN #RB16000975
(317) 658-5005
Source
Latitudeco
Added: Apr 8 Updated: Jul 10 at 1:02PM Checked: Jul 22 at 4:48AM
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 Latitude Commercial
Investment Insights
Based on property information with market context.
This 2,400 square foot office condo in Munster presents an opportunity for medical or professional services. The turnkey space is equipped with 5 exam rooms, a spacious reception area, a kitchenette, 3 private offices, and 2 plumbed workstations. Previously used as a doctor's office, the property includes ample parking and the option for pylon signage along 45th Street. This property is ideal for medical users seeking a location in Munster.
Key Highlights
- Turnkey 2,400sf office condo ready for immediate use.
- Ideal for medical or professional services, previously a doctor's office.
- Features 5 exam rooms, 3 private offices, and 2 plumbed workstations.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.2k | $25.92 |
| − Vacancy | −$6.2k | −$2.59 |
| EGI | $56.0k | $23.33 |
| − OpEx | −$22.4k | −$9.33 |
| NOI | $33.6k | $14.00 |
2,400 SF · lease $25.92/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$479.9K
$419.9K – $559.9K
NOI $33,592 @ 7.0% cap · market cap 7.90%
Second Best
Office B
$434.9K
$380.5K – $507.4K
NOI $30,443 @ 7.0% cap · market cap 7.16%
Theoretical Best
Specialty Retail
$670.0K
$586.2K – $781.7K
NOI $46,899 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Young Fredric D ...
Ophthalmologist
Robert L Young ...
Ophthalmologist
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - 2,400 SF medical office condo for sale in Munster.
Where is this medical office space located?
The property is located at 1646 45th Street Munster, IN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Turnkey 2,400sf office condo ready for immediate use.; Ideal for medical or professional services, previously a doctor's office.; Features **5 exam rooms, 3 private offices, and 2 plumbed workstations.**
