Office Unit with Full
2636 45th Street, Highland, IN 46322
For Sale
$190,000
Commercial Sale, Highland, IN
Property Size1,000 SF
Lot Size0.49 Acres
Price / SF$190
Days on Market231
Property Features for 2636 45th Street
General Information
Property type
Property subtype
Rooms
Parking
Parking features
Interior features
Basement
Lot features
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High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(219) 738-2455
Listed By:
Richard Wolf · License IN RB14039029
(219) 256-4437
Added: Mar 25
Changed: Nov 10
Last Checked: Nov 10 at 5:06PM
MLS# 836003
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.
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Investment Insights
Based on property information with market context.
This office unit at 2636 45th Street in Highland provides approximately 1,000 square feet of open-plan workspace along with a full basement for additional storage or operational use. The interior includes an entrance foyer, and the property is heated by natural gas forced air. Driveway and off-street parking are available.
Set on a 0.493-acre lot, the 1954-built property offers exposure along 45th Street and access suited to client visits. Public water and public sewer serve the property, with cable availability also noted. The office configuration and basement create a practical combination of workspace and support area.
Set on a 0.493-acre lot, the 1954-built property offers exposure along 45th Street and access suited to client visits. Public water and public sewer serve the property, with cable availability also noted. The office configuration and basement create a practical combination of workspace and support area.
Key Highlights
- Approximately 1,000 SF of open office space
- Full basement provides additional storage or work area
- 0.493‑acre lot along 45th Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,685
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,700
$253.7K
Cap Rate 7%
$181,214
$181.2K
Cap Rate 9%
$140,944
$140.9K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$21.6K $21.60/SF
− Vacancy
−$4.7K −$4.69/SF
EGI
$16.9K $16.91/SF
− OpEx
−$4.2K −$4.23/SF
NOI
$12.7K $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 Rate 5%
$253,700
Cap Rate 7%
$181,214
Cap Rate 9%
$140,944
Alternative Uses
Best Use
Office B
$181.2K
$158.6K – $211.4K
NOI $12,685 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$279.2K
$244.3K – $325.7K
NOI $19,541 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
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Business Placement
Demographics for 46322, IN
23,984
Population
10,791
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
93%
High-School Grad
6.9 sq mi
ZIP Area
3,476
Density / Sq Mi
$76,219
Median Household Income
$47,458
Median Earnings
$1,202
Median Rent
$219,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Lake County, IN
Properties on Market for Office Units in Lake County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Open-plan office space with a full basement, driveway parking, and public water and sewer service.
Where is this office unit located?
The property is located at 2636 45th Street Highland, IN.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Approximately 1,000 SF of open office space; Full basement provides additional storage or work area; 0.493‑acre lot along 45th Street
