Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3229 Broadway Gary, IN

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space for rent; tenant pays utilities and janitorial.

    Type:OFFICE
    Property size:
    3,134 SF
    Lot size:
    7.40 Acres
    Added:
    Oct 27, 2025
    Days on Market:
    158
    Last Refresh:
    Mar 29 at 10:37 pm

    Property Features for 3229 Broadway

    General Information

    Standard status
    Active
    Size
    3,134 SF
    Lot size
    7.40 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 3229 Broadway Contact us

    We can help!

    Listing Contact
    David A Lasser

    Listing agent David A Lasser

    Listing office Commercial In-Sites, LLC

    Listing date Oct 27, 2025

    Source Moodyscre

    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, LLC

    Overview

    Office Space Available For Rent

    This office space, comprising 3,133 rentable square feet and 2,507 usable square feet, is available for rent. The tenant is responsible for covering the costs of their own utilities and janitorial services. Additionally, the tenant will pay a pro rata share of any incremental property tax increases over the current base year. The property is located at 3229 Broadway, Gary, IN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Marram Health Center Medical Clinic Stephens Derek M ... Dental Office Renaissance Dental Enhancement Insurance Agency Genoa Healthcare Pharmacy Vyas Daksha MD Pediatrician

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gary
    County
    Lake
    State
    Indiana
    Longitude
    -87.3362
    Latitude
    41.5593

    Nearby Similar for Lease

    • Contact for pricing

      Gary Office Near Train Station

      2,600 SF office building near South Shore train station.
      5528 E Melton Road, Gary, IN 46403
      View Details
    • Contact for pricing

      Versatile Commercial Space in Gary

      9,200 SF commercial space suitable for various business uses.
      2535 Garfield, Gary, IN 46404
      View Details
    • Contact for pricing

      Industrial Space with Large Yard

      8000 SF industrial space with shared yard access.
      2801 W 9th Avenue, Gary, IN 46404
      View Details
    • Sponsored
      Contact for pricing

      IN, Merrillville - Mississippi St

      8396 Mississippi St, Unit C, Merrillville, IN 46410
      View Details
    • $16/mo

      Medical Office Building For Sale

      Two-unit condominium medical office building with recent renovations.
      Broadway 8510, Merrillville, IN
      View Details
    • $11/mo

      Retail/Flex Space on Highway 30

      Retail and warehouse units available in Hobart/Merrillville complex.
      E 81st Ave 5160, Merrillville, IN
      View Details
    • Contact for pricing

      Commercial Space with Large Parking

      Updated commercial space suitable for auto shops and dealerships.
      1022 E 21st Ave, Gary, IN, 46407-2815
      View Details
    • Contact for pricing

      Trucking Trailer Parking Site

      1-10 acre trucking trailer parking site for lease.
      3920 W Ridge Road, Gary, IN 46408
      View Details
    • $20/mo

      New Retail/Office Space Available

      New construction retail/office space for lease, suitable for QSR.
      1921 31 W 25th Ave, Gary, IN
      View Details
    • $10/mo

      Retail and Office Strip Center

      Multi-tenant strip center ideal for retail and office users.
      Broadway 7950-7990, Merrillville, IN
      View Details
    • Contact for pricing

      Retail/Office Space with Planned Renovations

      1,310 SF space suitable for retail or office use.
      2052 Broadway, Gary, IN 46407
      View Details
    • $15/mo

      Retail Strip Center Space Available

      Retail space available in a busy strip center.
      W 81st Ave 1521, Merrillville, IN
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent; tenant pays utilities and janitorial.
    Where is this office units located?
    The property is located at 3229 Broadway Gary, IN.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 2,507 USF/3,133 RSF of space available.; Tenant pays own utilities.; Tenant pays own janitorial services.
    (219) 795-1100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David A Lasser
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!