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    12555 Adams Rd Granger, IN 46530

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    For Sale
    $1,075,000

    Nearly 8,000 SF building suitable for medical or office uses.

    Property size:
    7,973 SF
    Lot size:
    0.88 Acres

    Property Features for 12555 Adams Rd

    General Information

    Standard status
    Active
    Zoning
    County B: Business
    Size
    7,973 SF
    Lot size
    0.88 Acres

    Building Details

    Year built
    1991

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    Listing Contact
    John Piraccini
    John Piraccini
    Source: Crexi

    Listing Agency: Coldwell Banker Commercial Roth Wehrly Graber South Bend Listing Agent: John Piraccini

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Building in Prime Location

    This nearly 8,000 SF building presents an opportunity for various medical, health, or office uses. It benefits from access to both IN-23/Adams Rd and Bittersweet Rd, with the intersection of Bittersweet Rd and SR 23 seeing 30,000 cars daily. The building features a reception/entrance area leading to numerous offices and exam rooms on the first floor. The main level also includes a larger exam/washing area with sinks, a former kennel area, a kitchenette, and a storage area. The second level offers additional offices and an overlook to the reception area, which could be converted into another office. Ample parking is available. The property is located on the main highway in Granger, a residential area with strong demographics. It is 1.5 miles from the Indiana/Michigan State Line, less than 3 miles to the IN-Toll Road interchange at IN-331/Capital Ave, 4.5 miles to the Grape Rd/Main St shopping corridor, 7.5 miles to the University of Notre Dame, and 10 miles from Downtown Mishawaka, South Bend, and Elkhart. The property is zoned County B: Business. Taxes are $7,486.00 for the tax year 2024. The seller will consider short term financing or a short-term lease with an option to purchase.
    Location Intelligence

    Current Use by Public Records

    Harr Stephanie DVM Veterinary Clinic Lacopo Michael D ... Veterinary Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Similar Places Nearby

    Tracy L. Eichenseer, DVM, Harr Stephanie DVM, Lacopo Michael D DVM, Kryder & Harr Veterinary Clinic

    Location Insight

    • Map
    • Local Demand
    City
    Granger
    County
    St. Joseph
    State
    Indiana
    Longitude
    -86.113994
    Latitude
    41.753579

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    FAQs

    What type of property is this?
    Medical Office Space - Nearly 8,000 SF building suitable for medical or office uses.
    Where is this medical office space located?
    The property is located at 12555 Adams Rd Granger, IN.
    What is the asking price?
    The asking price for this property is $1,075,000.
    What are key features of this property?
    This property features: - High-traffic location on IN-23/Adams Rd and Bittersweet Rd (30,000 cars daily) in Granger.; - Versatile 8,000 SF building suitable for medical, health, or office uses.; - Proximity to major shopping corridor (Grape Rd/Main St) including UP Mall, Costco, and Super Target (4.5 miles).
    (574) 277-8000
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    12555 Adams Rd Granger, IN 46530
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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
    12555 Adams Rd Granger, IN 46530
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    We can help!
    Listing Contact
    John Piraccini
    John Piraccini
    Real Estate License ID: RB14045659
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