Modern Office
For Sale
Contact for pricing
9410 Calumet Ave, Munster, IN 46321
Recently constructed in 2023 with dedicated on-site parking and a modern, efficient layout.
Property Size1,500 SF
Price / SF$212.67
Days on Market746
Property Features for 9410 Calumet Ave
General Information
Standard status
Active
Size
1,500 SF
Property subtype
OFFICE
Building Details
Year Built
2023
Listing Agency:
Latitude Commercial
(317) 658-5005
Listed By:
Antony Miocic · License ##RB16000975
(317) 658-5005
Source:
Moodyscre
Added: Jul 24, 2024
Changed: Jul 30
Last Checked: Aug 8 at 5:08AM
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 modern office condo in Maple Leaf Crossing offers an efficient floor plan designed for practical day-to-day use. The space totals 1,500 SF and was recently constructed in 2023, with modern amenities and building systems.
The property benefits from high visibility and accessibility, supported by dedicated parking for convenience. It’s a strong fit for an office tenant seeking a contemporary setting within a developed commercial setting like Maple Leaf Crossing.
The property benefits from high visibility and accessibility, supported by dedicated parking for convenience. It’s a strong fit for an office tenant seeking a contemporary setting within a developed commercial setting like Maple Leaf Crossing.
Key Highlights
- 1,500 SF modern office condo
- Recently constructed in 2023
- High visibility and accessibility
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
$19,027
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
5.96%
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%
$380,540
$380.5K
Cap Rate 7%
$271,814
$271.8K
Cap Rate 9%
$211,411
$211.4K
Market Conditions
NOI Build-Up for 1,500 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
$32.4K $21.60/SF
− Vacancy
−$7.0K −$4.69/SF
EGI
$25.4K $16.91/SF
− OpEx
−$6.3K −$4.23/SF
NOI
$19.0K $12.68/SF
Area
Lake County, IN
Vacancy
21.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$380,540
Cap Rate 7%
$271,814
Cap Rate 9%
$211,411
Alternative Uses
Best Use
Office B
$271.8K
$237.8K – $317.1K
NOI $19,027 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$418.7K
$366.4K – $488.5K
NOI $29,312 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Explore this area
Business Placement
Demographics for 46321, IN
23,894
Population
9,786
Households
2.4
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
7.6 sq mi
ZIP Area
3,144
Density / Sq Mi
$105,764
Median Household Income
$57,796
Median Earnings
$1,480
Median Rent
$312,000
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 - Recently constructed in 2023 with dedicated on-site parking and a modern, efficient layout.
Where is this office units located?
The property is located at 9410 Calumet Ave Munster, IN.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: 1,500 SF modern office condo; Recently constructed in 2023; High visibility and accessibility
