Remodeled End-Unit Office
New
For Sale
$459,900
260 E 90th Drive, Merrillville, IN 46410
Commercial Sale, Merrillville, IN
Property Size2,892 SF
Lot Size27,021.00 Acres
Price / SF$159.02
Days on Market4
Property Features for 260 E 90th Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
40
Appliances
Refrigerator
Subdivision
Easton Court Condo
Lot features
Corner Lot, Rectangular Lot, Landscaped
Directions
80/90 Indiana to US 65 South, exit US 30 W to Broadway south, east on 90th drive.building on your left. unit 260
Standard status
Active
APN
451227303006000030
Size
2,892 SF
Lot size
27,021.00 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
EASTON COURT CONDOMINIUMS BROADFIELD CENTER OFFICE UNIT 6 2.444 S.F.
Tax Annual Amount
6822
Legal Description
EASTON COURT CONDOMINIUMS BROADFIELD CENTER OFFICE UNIT 6 2.444 S.F.
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1989
Listing Agency:
McColly Real Estate
(219) 663-3835
Listed By:
Colleen Johnston-Hatami · License #RB18000078
(219) 313-7550
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 20 at 9:06AM
MLS# 843931
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This remodeled end-unit office suite provides a professional layout with eight private offices, an oversized conference room, two updated restrooms, and an employee break room with a new sink and refrigerator. Large windows bring natural light into each office, while new shades, flooring, LED lighting, interior paint, solid oak doors, and matching oak baseboards enhance the interior. The property includes two furnaces, two air-conditioning units, a water heater, and an all-brick exterior. Public water and public sewer serve the building, which was constructed in 1989.
Located at 260 E 90th Drive in Merrillville, the suite sits just off Broadway between I-65 and US 30. The surrounding business area includes medical, legal, and retail uses, with a hospital, emergency room, medical offices, and law firms nearby. HOA services include exterior landscaping, roof maintenance, water, and sewer.
Located at 260 E 90th Drive in Merrillville, the suite sits just off Broadway between I-65 and US 30. The surrounding business area includes medical, legal, and retail uses, with a hospital, emergency room, medical offices, and law firms nearby. HOA services include exterior landscaping, roof maintenance, water, and sewer.
Key Highlights
- 2,892‑square‑foot office unit at 260 E 90th Drive, Merrillville, IN 46410
- Eight private offices, oversized conference room, two updated restrooms, and employee break room
- End‑unit layout with windows in every office and new window shades
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
$36,684
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
7.98%
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%
$733,680
$733.7K
Cap Rate 7%
$524,057
$524.1K
Cap Rate 9%
$407,600
$407.6K
Market Conditions
NOI Build-Up for 2,892 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
$62.5K $21.60/SF
− Vacancy
−$13.6K −$4.69/SF
EGI
$48.9K $16.91/SF
− OpEx
−$12.2K −$4.23/SF
NOI
$36.7K $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%
$733,680
Cap Rate 7%
$524,057
Cap Rate 9%
$407,600
Alternative Uses
Best Use
Office B
$524.1K
$458.6K – $611.4K
NOI $36,684 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$807.3K
$706.4K – $941.9K
NOI $56,513 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,592
Businesses Nearby
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
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 - Professional office space with private rooms, conference facilities, updated finishes, and abundant natural light.
Where is this office units located?
The property is located at 260 E 90th Drive Merrillville, IN.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 2,892‑square‑foot office unit at 260 E 90th Drive, Merrillville, IN 46410; Eight private offices, oversized conference room, two updated restrooms, and employee break room; End‑unit layout with windows in every office and new window shades
