Commercial
For Sale
$495,000
2060 81st Ave, Merrillville, IN 46410
Site positioned along U.S. 30 at 2060 81st Ave for commercial development.
Property Size2,308 SF
Price / SF$214.47
Days on Market42
Property Features for 2060 81st Ave
General Information
Standard status
Active
Size
2,308 SF
Building Details
Year Built
1984
Listing Agency:
Brokerworks Group
(708) 323-8884
Listed By:
Danek Znika
Source:
Realtopiare
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 25 at 5:21AM
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 Brokerworks Group
Investment Insights
Based on property information with market context.
Commercial land positioned along U.S. 30 at 2060 81st Ave in Merrillville, Indiana. The site is identified for development supporting a quick-service restaurant, retail concept, or another commercial use requiring a visible corridor setting.
The property address is 2060 81st Ave, Merrillville, IN 46410. Its placement on U.S. 30 provides a defined commercial corridor context for future planning and site evaluation.
The property address is 2060 81st Ave, Merrillville, IN 46410. Its placement on U.S. 30 provides a defined commercial corridor context for future planning and site evaluation.
Key Highlights
- Positioned along U.S. 30 in Merrillville
- Address: 2060 81st Ave, Merrillville, IN 46410
- Identified as suitable for a quick‑service restaurant concept
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
$22,241
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
4.49%
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%
$444,820
$444.8K
Cap Rate 7%
$317,729
$317.7K
Cap Rate 9%
$247,122
$247.1K
Market Conditions
NOI Build-Up for 2,308 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
$33.2K $14.40/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$31.8K $13.77/SF
− OpEx
−$9.5K −$4.13/SF
NOI
$22.2K $9.64/SF
Area
Lake County, IN
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$444,820
Cap Rate 7%
$317,729
Cap Rate 9%
$247,122
Alternative Uses
Best Use
Retail
$317.7K
$278.0K – $370.7K
NOI $22,241 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$644.3K
$563.8K – $751.7K
NOI $45,101 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
28k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 62%
Dining 16%
Shops & Services 14%
Home Improvements & Furnishings 4%
Gordon Food Service
Groceries
17,065 visits/mo
0.4 miles
SUBWAY
Dining
4,425 visits/mo
0.5 miles
U-Haul Moving & Storage of Merrillville
Shops & Services
1,879 visits/mo
0.4 miles
The Great Escape
Home Improvements & Furnishings
1,173 visits/mo
0.1 miles
Avis Budget Car Rental
Shops & Services
1,163 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Site positioned along U.S. 30 at 2060 81st Ave for commercial development.
Where is this commercial land located?
The property is located at 2060 81st Ave Merrillville, IN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Positioned along U.S. 30 in Merrillville; Address: 2060 81st Ave, Merrillville, IN 46410; Identified as suitable for a quick‑service restaurant concept
