Signalized-Corner Retail
2919 21 W 61st ST, Merrillville, IN 46410
For Sale
New
Contact for pricing
The 2.34-acre parcel provides customer access from multiple directions near Interstate 65 and U.S. Highway 30.
Property Size16,848 SF
Lot Size2.34 Acres
Price / SF$163.22
Days on Market5
Property Features for 2919 21 W 61st ST
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Corner Location
Highway Access
Additional Details
Asking Price
Listing Agency:
Premier Commercial Real Estate Services, Inc.
(317) 454-7171
Listed By:
Melissa Blackwell · License IN RB15000222
(317) 384-9756
Source:
Moodyscre
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:20PM
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 Premier Commercial Real Estate Services, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This retail property includes a 16,848-square-foot building on a 2.34-acre parcel. Its corner position is controlled by a traffic signal, with access available from multiple directions.
The property is minutes from Interstate 65 and U.S. Highway 30. Signage and visibility are noted as site features.
The property is minutes from Interstate 65 and U.S. Highway 30. Signage and visibility are noted as site features.
Key Highlights
- 16,848‑square‑foot retail building
- 2.34‑acre parcel
- Signalized corner location
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,355
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,247,100
$3.2M
Cap Rate 7%
$2,319,357
$2.3M
Cap Rate 9%
$1,803,944
$1.8M
Market Conditions
NOI Build-Up for 16,848 SF
Gross rent
$242.6K $14.40/SF
− Vacancy
−$10.7K −$0.63/SF
EGI
$231.9K $13.77/SF
− OpEx
−$69.6K −$4.13/SF
NOI
$162.4K $9.64/SF
Area
Lake County, IN
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,247,100
Cap Rate 7%
$2,319,357
Cap Rate 9%
$1,803,944
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.71M
NOI $162,355 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.70M
$4.12M – $5.49M
NOI $329,231 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
82
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
$192,100
Median Home Value
Market
Average Price Trend$/SF for Retail space in Lake County, IN
Properties on Market for Retail space in Lake County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - The 2.34-acre parcel provides customer access from multiple directions near Interstate 65 and U.S. Highway 30.
Where is this retail space located?
The property is located at 2919 21 W 61st ST Merrillville, IN.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 16,848‑square‑foot retail building; 2.34‑acre parcel; Signalized corner location
