Flex Warehouse with Drive-In
451 Main St Schererville, IN 46375
For Sale
Contact for pricing
Built in 2009, the flex warehouse includes 1,000 SF office and four 14' x 14' drive-in bays.
Property Size6,720 SF
Price / SF$133.93
Days on Market37
Property Features for 451 Main St
General Information
- Standard status
- Active
- Size
- 6,720 SF
- Property subtype
- OFFICE
Listing Agency:
Commercial In-Sites, LLC
(219) 795-1100
Listed By:
David A Lasser
(219) 795-1100
Source:
Moodyscre
Added: Jun 17
Changed: Jul 23
Last Checked: Jul 23 at 10:39AM
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
Investment Insights
Based on property information with market context.
Built in 2009, this 6,720 SF flex warehouse combines office and warehouse space. The interior includes approximately 1,000 SF of office with waiting/reception, three private offices, and two bathrooms. An upper level adds about 600 SF with central air/heat, plus roughly 400 SF of storage. The 5,720 SF warehouse features four 14' x 14' drive-in bays, a 16' clear ceiling, three floor drains, and 120–240 Volt / 400 AMP electrical service. The property is sold AS IS, and no personal property is included unless otherwise agreed upon.
The building offers about 100' of frontage on 45th Street and is located on Main Street on the south side of Highland on the Schererville border. Nearby retail centers include Highland Grove Retail Shopping area with Target, Best Buy, Kohl's, Petco, and Office Depot, as well as Shoppes on Main with Whole Foods, Nordstrom Rack, DSW, White House Black Market, and Albert's Jewelers. Additional nearby businesses include Starbucks, Carrabba's, Old Navy, Walgreens, Meijer, Olive Garden, Speedway, and more.
The building offers about 100' of frontage on 45th Street and is located on Main Street on the south side of Highland on the Schererville border. Nearby retail centers include Highland Grove Retail Shopping area with Target, Best Buy, Kohl's, Petco, and Office Depot, as well as Shoppes on Main with Whole Foods, Nordstrom Rack, DSW, White House Black Market, and Albert's Jewelers. Additional nearby businesses include Starbucks, Carrabba's, Old Navy, Walgreens, Meijer, Olive Garden, Speedway, and more.
Key Highlights
- 6,720 SF commercial building built in 2009 with a flex layout including 1,000 SF office and a 5,720 SF warehouse
- Warehouse features four 14' x 14' drive‑in bays plus 16' clear ceiling and three floor drains
- Office area includes waiting/reception, three private offices, and two bathrooms
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.9k | $8.76 |
| − Vacancy | −$3.2k | −$0.47 |
| EGI | $55.7k | $8.29 |
| − OpEx | −$8.4k | −$1.24 |
| NOI | $47.3k | $7.04 |
6,720 SF · lease $8.76/SF/yr · vacancy 5.39% · expense 15.00%
Alternative Uses
Best Use
Office B
$1.22M
$1.07M – $1.42M
NOI $85,241 @ 7.0% cap · market cap 9.47%
Second Best
Warehouse
$676.3K
$591.8K – $789.0K
NOI $47,340 @ 7.0% cap · market cap 5.26%
Theoretical Best
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,317 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Atlas World Class ...
Auto Repair Shop
Atlas Construction & Roofing
Roofing Company
FAQs
What type of property is this?
Flex space - Built in 2009, the flex warehouse includes 1,000 SF office and four 14' x 14' drive-in bays.
Where is this flex space located?
The property is located at 451 Main St Schererville, IN.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 6,720 SF commercial building built in 2009 with a flex layout including 1,000 SF office and a 5,720 SF warehouse; Warehouse features four 14' x 14' drive‑in bays plus 16' clear ceiling and three floor drains; Office area includes waiting/reception, three private offices, and two bathrooms
