Office Unit with Full
For Sale
$190,000
2636 45th Street, Highland, IN 46322
Commercial Sale, Highland, IN
Property Size1,000 SF
Lot Size0.49 Acres
Price / SF$190
Days on Market195
Property Features for 2636 45th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
8
Parking features
Driveway, Off Street
Interior features
Entrance Foyer, Open Floorplan
Basement
Full
Lot features
Paved, Rectangular Lot
View
City
High school
Highland High School
Elementary school district
Highland School Town
Middle school district
Highland School Town
High school district
Highland School Town
Directions
Kennedy Avenue to 45th Street West to property, located on South side of street.
Standard status
Active
APN
450733126007000026
Size
1,000 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
E. 70.89 FT. OF W. 523.56 FT. OF N. 332.80 FT. OF E1/2 NW. E. OF RR. S.33 T.36 R .9 .583A.
Tax Annual Amount
2591
Legal Description
E. 70.89 FT. OF W. 523.56 FT. OF N. 332.80 FT. OF E1/2 NW. E. OF RR. S.33 T.36 R .9 .583A.
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1954
Listing Agency:
Century 21 Circle · Century 21 Real Estate
(219) 738-2455
Listed By:
Richard Wolf · License #RB14039029
(219) 256-4437
Added: Mar 25
Changed: Sep 24
Last Checked: Oct 5 at 11:06PM
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.
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Open-plan office space with a full basement, driveway parking, and public water and sewer service.
Where is this office units 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
