Office Condo with
For Sale
$485,000
346 E Us Highway 30 Unit J, Schererville, IN 46375
Well-maintained office condominium with a bright showroom, private office areas, kitchen, two bathrooms, and flexible support space.
Property Size2,632 SF
Price / SF$184.27
Days on Market87
Property Features for 346 E Us Highway 30 Unit J
General Information
Standard status
Active
Size
2,632 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Amenities
sound system
acoustical ceiling
epoxy floor
large windows
private offices
kitchen
bathrooms
laundry
bonus room
Building Details
Year Built
2000
Abandoned
No
Listing Agency:
Advantage Realty Team, LLC
(219) 928-2899
Listed By:
John Rupp
Source:
Nwindianahomesearcher
Added: Jun 3
Changed: Aug 28
Last Checked: Aug 25 at 7:29AM
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 Advantage Realty Team, LLC
Investment Insights
Based on property information with market context.
This 2,632-square-foot office condominium in Fox Run Plaza provides a flexible commercial layout with a prominent showroom and foyer finished with epoxy flooring. Large windows bring natural light into the front area, while an acoustical ceiling supports an integrated sound system. The rear portion includes two private offices or breakrooms, a bonus room for storage, files, or additional office use, and a utility room with laundry hookups.
The property includes a kitchen with countertops, cabinets, and a sink, along with two bathrooms, one of which has a shower. A utility sink is positioned by the rear exterior door. Building updates include a shingle roof installed in December 2025 and a furnace and A/C unit installed in 2021. The unit was built in 2000 and is located at 346 E US Highway 30, Unit J, in Schererville, Indiana.
The property includes a kitchen with countertops, cabinets, and a sink, along with two bathrooms, one of which has a shower. A utility sink is positioned by the rear exterior door. Building updates include a shingle roof installed in December 2025 and a furnace and A/C unit installed in 2021. The unit was built in 2000 and is located at 346 E US Highway 30, Unit J, in Schererville, Indiana.
Key Highlights
- 2,632 SF office condominium in Fox Run Plaza
- Showroom and foyer feature epoxy flooring and large windows
- Two private offices or breakrooms in the rear area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,386
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$667,720
$667.7K
Cap Rate 7%
$476,943
$476.9K
Cap Rate 9%
$370,956
$371.0K
Market Conditions
NOI Build-Up for 2,632 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.9K $21.60/SF
− Vacancy
−$12.3K −$4.69/SF
EGI
$44.5K $16.91/SF
− OpEx
−$11.1K −$4.23/SF
NOI
$33.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$667,720
Cap Rate 7%
$476,943
Cap Rate 9%
$370,956
Alternative Uses
Best Use
Office B
$476.9K
$417.3K – $556.4K
NOI $33,386 @ 7.0% cap · market cap 6.88%
Second Best
Retail
$362.3K
$317.0K – $422.7K
NOI $25,363 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$734.8K
$642.9K – $857.2K
NOI $51,433 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office condominium with a bright showroom, private office areas, kitchen, two bathrooms, and flexible support space.
Where is this office units located?
The property is located at 346 E Us Highway 30 Unit J Schererville, IN.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 2,632 SF office condominium in Fox Run Plaza; Showroom and foyer feature epoxy flooring and large windows; Two private offices or breakrooms in the rear area
