Calumet City Warehouse with
For Sale
Contact for pricing
3445 Ridge Road, Highland, IN 60409
8,160 SF warehouse with 2,160 SF office space.
Property Size8,160 SF
Price / SF$107.23
Days on Market148
Property Features for 3445 Ridge Road
General Information
Standard status
Active
Size
8,160 SF
Property subtype
Industrial
Listing Agency:
Commercial In-Sites LLC
(219) 795-1100
Listed By:
David Lasser · License #IN RB14026085
Source:
Crexi
Added: Mar 26
Changed: Aug 11
Last Checked: Aug 19 at 9:57PM
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 8,160 square foot property features a warehouse and office space. The 2,160 square foot office area includes three offices, a conference room, an open reception area, and a bathroom. The 6,000 square foot warehouse is equipped with two Reznor suspended gas heaters, a slot floor drain, and three ceiling fans. Transom windows are present. The property includes one 10'x14' drive-in door and one dock with a 10'x14' overhead door with a canopy leveler and sump pump. Electrical service is 400 amp, 120/240. A forklift is available for sale. The property has adequate land area to add parking or fenced storage. Located in Calumet City on State Street between Wentworth Avenue and Indiana State Line Road, the property is situated approximately 1/4 mile west of the Indiana/Illinois state line, 1 mile west of US Highway 41, 1 1/2 miles south of I-94, 3 miles north of the Indiana Toll Road, and 8 miles north of U.S. Highway 30. Nearby businesses and landmarks include ALTA Material Handling, Hasse Construction, Linz Meats, Calumet City Public Safety Training Center, Strack and Van Til, and Wendy's. The 2022 INDOT traffic count was 8,000 cars per day. The 2023 taxes were $10,959.75 ($1.34/SF).
Key Highlights
- 8,160 SF warehouse with 2,160 SF office space featuring 3 offices, conference room, and reception area.
- Convenient location with easy access to major highways (I‑94, US Highway 41, Indiana Toll Road) and proximity to the Indiana/Illinois state line.
- Functional warehouse features include 1 drive‑in door (10'x14'), 1 dock with 10'x14' OHD with canopy leveler, slot floor drain, and 2 Reznor suspended gas heaters.
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
$74,028
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
8.46%
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%
$1,480,560
$1.5M
Cap Rate 7%
$1,057,543
$1.1M
Cap Rate 9%
$822,533
$822.5K
Market Conditions
NOI Build-Up for 8,160 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
$117.5K $14.40/SF
− Vacancy
−$18.8K −$2.30/SF
EGI
$98.7K $12.10/SF
− OpEx
−$24.7K −$3.02/SF
NOI
$74.0K $9.07/SF
Area
Vermillion County, IN
Vacancy
16.00%
Lease Rate
$14.40 /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%
$1,480,560
Cap Rate 7%
$1,057,543
Cap Rate 9%
$822,533
Alternative Uses
Best Use
Office B
$1.06M
$925.4K – $1.23M
NOI $74,028 @ 7.0% cap · market cap 8.46%
Second Best
Warehouse
$790.7K
$691.9K – $922.5K
NOI $55,349 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,053 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 8,160 SF warehouse with 2,160 SF office space.
Where is this warehouse located?
The property is located at 3445 Ridge Road Highland, IN.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 8,160 SF warehouse with 2,160 SF office space featuring 3 offices, conference room, and reception area.; Convenient location with easy access to major highways (I‑94, US Highway 41, Indiana Toll Road) and proximity to the Indiana/Illinois state line.; Functional warehouse features include 1 drive‑in door (10'x14'), 1 dock with 10'x14' OHD with canopy leveler, slot floor drain, and 2 Reznor suspended gas heaters.
