Three-Suite Medical Office
For Sale
Contact for pricing
200-250 E 90th Dr, Merrillville, IN 46410
C3-zoned property offers three professional suites for office or medical use.
Property Size7,416 SF
Price / SF$144.55
Days on Market438
Property Features for 200-250 E 90th Dr
General Information
Standard status
Active
Size
7,416 SF
Property subtype
OFFICE
Zoning
C3
Additional Details
Office Units
3
Building Details
Year Built
1989
Building Size
7,416 SF
Listing Agency:
Latitude Commercial
(209) 864-0200
Listed By:
Julia Turner · License ##RB2501238
(219) 728-8782
Source:
Moodyscre
Added: Aug 6, 2025
Changed: Oct 13
Last Checked: Oct 16 at 11:36AM
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
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Investment Insights
Based on property information with market context.
This 7,416-square-foot medical office building contains three professional suites within a commercial office setting. Constructed in 1989, the property is configured for office and medical occupancy and carries C3 zoning.
The address is 200-250 E 90th Dr in Merrillville, Indiana. Its suite count and existing professional-office configuration support a multi-occupant medical or office arrangement.
The address is 200-250 E 90th Dr in Merrillville, Indiana. Its suite count and existing professional-office configuration support a multi-occupant medical or office arrangement.
Key Highlights
- 7,416 SF medical office building
- Three professional medical office suites
- C3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,753
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,615,060
$2.6M
Cap Rate 7%
$1,867,900
$1.9M
Cap Rate 9%
$1,452,811
$1.5M
Market Conditions
NOI Build-Up for 10,308 SF
Gross rent
$222.7K $21.60/SF
− Vacancy
−$48.3K −$4.69/SF
EGI
$174.3K $16.91/SF
− OpEx
−$43.6K −$4.23/SF
NOI
$130.8K $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 Rate 5%
$2,615,060
Cap Rate 7%
$1,867,900
Cap Rate 9%
$1,452,811
Alternative Uses
Best Use
Healthcare Medical
$2.06M
$1.80M – $2.40M
NOI $144,279 @ 7.0% cap · market cap 9.68%
Second Best
Office B
$1.87M
$1.63M – $2.18M
NOI $130,753 @ 7.0% cap · market cap 8.78%
Theoretical Best
Specialty Retail
$2.88M
$2.52M – $3.36M
NOI $201,431 @ 7.0% cap · market cap 13.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 46410, IN
39,471
Population
17,685
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
1,311
Density / Sq Mi
$61,735
Median Household Income
$42,235
Median Earnings
$1,267
Median Rent
$192,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - C3-zoned property offers three professional suites for office or medical use.
Where is this medical office space located?
The property is located at 200-250 E 90th Dr Merrillville, IN.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 7,416 SF medical office building; Three professional medical office suites; C3 zoning
