Dyer Galleria Condo For
For Sale
Contact for pricing
275 Joliet St, Dyer, IN 46311
4,860 SF Class A condo in Dyer Galleria.
Property Size4,860 SF
Price / SF$204.73
Days on Market194
Property Features for 275 Joliet St
General Information
Standard status
Active
Size
4,860 SF
Class
A
Property subtype
Office
Listing Agency:
COMMERCIAL IN-SITES
Listed By:
Adam Karras · License #IN RB15000457
Source:
Crexi
Added: Mar 26
Changed: Sep 30
Last Checked: Oct 5 at 4:15PM
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 COMMERCIAL IN-SITES
Investment Insights
Based on property information with market context.
This 4,860 SF condo is located on the second floor of a three-story building within the Galleria in Dyer. The interior includes 2 reception areas with seating, 10 exam rooms, 1 private office, 3 private bathrooms, 2 lab rooms, 2 consultation rooms, and an employee lounge. The property is part of a Class A mixed-use, multi-tenant business development consisting of two buildings. The building features a sprinkler system, an elevator, and common area restrooms on each floor. A recently seal-coated parking lot accommodates 125 cars. The property benefits from excellent visibility, with a 2024 traffic count of 31,634 cars daily. A new rooftop HVAC unit was installed in 2017. Situated on the north side of Joliet Street (US 30), the property is 2 blocks east of the Illinois border and 4 miles east of I-394. It is in close proximity to Dyer Town Hall, Dyer Police Station, Franciscan St. Margaret's Hospital, Copart Auto Auction, White Rhino, Subway, a Jewel/Osco anchored shopping center, Starbucks, Chili's, and McDonald's, along with numerous other restaurants, banks, and stores. The property is suitable for office and medical office space.
Key Highlights
- High‑traffic location with excellent visibility (31,634 cars daily).
- Spacious 4,860 SF Class A condo suitable for various business needs.
- Ample parking with a 125‑car capacity, recently seal coated.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,024
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,360,480
$1.4M
Cap Rate 7%
$971,771
$971.8K
Cap Rate 9%
$755,822
$755.8K
Market Conditions
NOI Build-Up for 4,860 SF
Gross rent
$126.0K $25.92/SF
− Vacancy
−$12.6K −$2.59/SF
EGI
$113.4K $23.33/SF
− OpEx
−$45.3K −$9.33/SF
NOI
$68.0K $14.00/SF
Area
Lake County, IN
Vacancy
10.00%
Lease Rate
$25.92 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,360,480
Cap Rate 7%
$971,771
Cap Rate 9%
$755,822
Alternative Uses
Best Use
Healthcare Medical
$971.8K
$850.3K – $1.13M
NOI $68,024 @ 7.0% cap · market cap 6.84%
Second Best
Office B
$880.7K
$770.6K – $1.03M
NOI $61,647 @ 7.0% cap · market cap 6.20%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $94,970 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 46311, IN
22,431
Population
9,128
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
1,780
Density / Sq Mi
$109,167
Median Household Income
$58,332
Median Earnings
$1,221
Median Rent
$300,000
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 - 4,860 SF Class A condo in Dyer Galleria.
Where is this office units located?
The property is located at 275 Joliet St Dyer, IN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: High‑traffic location with excellent visibility (31,634 cars daily).; Spacious 4,860 SF Class A condo suitable for various business needs.; Ample parking with a 125‑car capacity, recently seal coated.
