Professional Office
For Sale
$170,000
2632 W Lincoln Hwy, Merrillville, IN 46410
A reception area, three private offices and two full bathrooms provide a functional setting for professional services.
Property Size1,165 SF
Price / SF$145.92
Days on Market12
Property Features for 2632 W Lincoln Hwy
General Information
Standard status
Active
Size
1,165 SF
Zoning
C-2
Additional Details
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,069
Building Details
Tenancy
Multi
Listing Agency:
Weichert, Realtors-Moke Agency
(219) 662-3000
Listed By:
Dennis Nichols · License #RB20001421
(219) 257-2800
Source:
Exprealty
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 8:54PM
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 Weichert, Realtors-Moke Agency
Investment Insights
Based on property information with market context.
This office suite features a reception and administrative area with an existing counter, three private offices, a separate mechanical and utility area, and two full bathrooms. Built-in shelving occupies one office. Interior finishes include carpeted offices, overhead lighting, window coverings, and wood trim and doors. The property is zoned C-2, Community Commercial District.
Situated on US Highway 30 in Merrillville, the suite is exposed to traffic counts exceeding 45,000 vehicles per day. The property is part of a commercial condominium development, where the association is responsible for exterior maintenance.
Situated on US Highway 30 in Merrillville, the suite is exposed to traffic counts exceeding 45,000 vehicles per day. The property is part of a commercial condominium development, where the association is responsible for exterior maintenance.
Key Highlights
- Three private offices, including one with built‑in shelving
- Reception and administrative area with existing counter
- Two full bathrooms and a separate mechanical/utility area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,778
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,560
$295.6K
Cap Rate 7%
$211,114
$211.1K
Cap Rate 9%
$164,200
$164.2K
Market Conditions
NOI Build-Up for 1,165 SF
Gross rent
$25.2K $21.60/SF
− Vacancy
−$5.5K −$4.69/SF
EGI
$19.7K $16.91/SF
− OpEx
−$4.9K −$4.23/SF
NOI
$14.8K $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%
$295,560
Cap Rate 7%
$211,114
Cap Rate 9%
$164,200
Alternative Uses
Best Use
Office B
$211.1K
$184.7K – $246.3K
NOI $14,778 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$325.2K
$284.6K – $379.4K
NOI $22,766 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
36
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
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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?
Office units - A reception area, three private offices and two full bathrooms provide a functional setting for professional services.
Where is this office units located?
The property is located at 2632 W Lincoln Hwy Merrillville, IN.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Three private offices, including one with built‑in shelving; Reception and administrative area with existing counter; Two full bathrooms and a separate mechanical/utility area
