Two-Unit Professional Office
For Sale
$340,000
2636 & 2632 W 81st Ave, Merrillville, IN 46410
A connected pair of workspaces includes reception areas, private offices, a conference room, and a kitchen area.
Property Size1,165 SF
Price / SF$291.85
Days on Market9
Property Features for 2636 & 2632 W 81st Ave
General Information
Standard status
Active
Size
1,165 SF
Property subtype
Commercial
Zoning
C-2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
2
Building Details
Year Built
1989
Listing Agency:
Realtors-Moke Agency
(219) 662-3000
Listed By:
Weichert
Source:
Thelyonsgroup
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 5 at 6:02PM
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 Realtors-Moke Agency
Investment Insights
Based on property information with market context.
Built in 1989, this office property comprises two connected units with separate work areas and interior access between them. The layout includes reception and waiting space, private offices, a conference room, administrative areas, and a break area with cabinetry, countertops, and a sink. Additional features include multiple restrooms, utility areas, overhead lighting, and built-in shelving in one office.
The property is in Merrillville along the US Highway 30 commercial corridor, where the source reports daily traffic of more than 45,000 vehicles. It is zoned C-2, Community Commercial District; uses remain subject to municipal requirements and approvals. The condominium association handles exterior maintenance.
The property is in Merrillville along the US Highway 30 commercial corridor, where the source reports daily traffic of more than 45,000 vehicles. It is zoned C-2, Community Commercial District; uses remain subject to municipal requirements and approvals. The condominium association handles exterior maintenance.
Key Highlights
- Two adjoining office units with interior access
- Reception and waiting areas, private offices, conference room, and administrative workspace
- Break area includes cabinetry, countertops, and a sink
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,778
Cap Rate
4.35%
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 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$325.2K
$284.6K – $379.4K
NOI $22,766 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
469
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - A connected pair of workspaces includes reception areas, private offices, a conference room, and a kitchen area.
Where is this office units located?
The property is located at 2636 & 2632 W 81st Ave Merrillville, IN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two adjoining office units with interior access; Reception and waiting areas, private offices, conference room, and administrative workspace; Break area includes cabinetry, countertops, and a sink
