Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Warehouse-Flex Space with Office Title is generated by Realmo AI

    5150 E 81st Ave, Merrillville, IN 46410

    View on Map
    Claim this Listing
    New
    For Lease
    Contact for pricing

    Small warehouse-flex with an overhead door, built-out office, and rear trailer parking for operational convenience.

    Type:Warehouse
    Property size:
    900 SF
    Added:
    Jun 3, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 1:46 am

    Property Features for 5150 E 81st Ave

    General Information

    Standard status
    Active
    Size
    900 SF
    Property subtype
    Warehouse

    Building Details

    Year Built
    2007

    Spaces For Lease

    at 5150 E 81st Ave Contact us

    We can help!

    Listing Contact
    Brett McDermott
    Brett McDermott

    Listing agent Brett McDermott License #RB14050416

    Listing office Latitude Commercial

    Listing date Jun 3, 2026

    Source Thebrokerlist

    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 Latitude Commercial

    HighLights

    • 900 SF warehouse/flex space built in 2007, located just off US 30
    • Overhead door plus a built‑out office area for on‑site operations
    • Rear trailer/truck parking available at the property
    • Two reserved parking spaces for customers or employees
    • Monument signage includes a 2' x 8' sign with direct visibility from US 30, plus a 4' x 4' facade sign

    Overview

    This 900 SF warehouse-flex space is designed for everyday operational use, featuring an overhead door and a built-out office area. The rear of the property includes dedicated trailer/truck parking, supporting move-in and daily logistics. Two reserved parking spaces are also provided for customers or employees. Visibility for the business is supported by prominent monument signage, including a 2’ x 8’ sign directly visible from US 30, along as a 4’ x 4’ facade sign.

    The property is located just off US 30, described as one of the most heavily traveled roads in Northwest Indiana. It sits along the main road across Merrillville, providing straightforward roadway access for employees, customers, and deliveries.

    This layout fits well for a small business that needs a functional work area with an onsite office and trailer-friendly parking. The combination of loading access, dedicated rear truck parking, and reserved employee or customer parking makes the space practical for teams operating from a single location.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

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

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

    Similar Places Nearby

    • MAMAS HANDS SOUL FOOD — 1402 86th Pl, Merrillville, IN 46410

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.27539
    Latitude
    41.47212

    Nearby Similar for Lease

    • $16 SF/Yr
      16,660 SF

      Spacious Building on Route 30

      16,660 SF building suitable for medical or commercial use.
      4200 W Lincoln Highway, Merrillville, IN 46410
      View Details
    • Sponsored
      $129-$3,649/Mo
      11-1,292 SF

      IN, Merrillville - Mississippi St

      8396 Mississippi St, Unit C, Merrillville, IN 46410
      View Details
    • $1,600/Mo
      9,750 SF

      Retail Storefront Space for Lease

      Vacant storefront on Taft Street, ready for a new retail tenant looking to secure a flexible space.
      B-7807 Taft St, Merrillville, IN
      View Details
    • $2.00 SF/Yr
      10,000 SF

      Spacious Office Space in Merrillville

      10,000 SQFT office space with 30+ private offices.
      8396 Mississippi Street, Merrillville, IN 46410
      View Details
    • $15 SF/Yr
      3,266 SF

      Class A Office Space Available

      Class A office space in Merrillville Corporate Center for lease.
      8001 Broadway, Merrillville, IN
      View Details
    • $2,750/Mo
      3,500 SF

      Merrillville Flex/Industrial Space For Rent

      Flex/industrial space available for lease in Merrillville, Indiana.
      101-107 W 78th Place NW, Merrillville, IN 46410
      View Details
    • $16 SF/Yr
      3,208 SF

      Office Suites For Rent

      Two office suites available, can be combined into one.
      55 E 86th Ave, Merrillville, IN
      View Details
    • $1,400/Mo
      900 SF

      Merrillville Office Space For Rent

      900 SF office space with reception, office, and conference room.
      280 W 80th Pl, Merrillville, IN 46410
      View Details
    • $18 SF/Yr
      1,860 SF

      Renovated Office Space Available

      Merrillville office suite with recent renovations, available November 1st.
      7725 Broadway, Merrillville, IN
      View Details
    • $10 SF/Yr
      2,880 SF

      Versatile Flex Spaces Available

      Two flex spaces suitable for office, warehouse, showroom, or retail.
      1561 1599 E 93rd Ave, Merrillville, IN
      View Details
    • Contact for pricing
      3,774 SF

      Retail Space in Merrillville Center

      3,774 SF retail space in a high-traffic Merrillville location.
      1600 79th Ave, Merrillville, IN 46410
      View Details
    • $10 SF/Yr
      30,642 SF

      Retail and Office Strip Center

      Multi-tenant strip center ideal for retail and office users.
      7950-7990 Broadway, Merrillville, IN 46410
      View Details

    FAQs

    What type of property is this?
    Flex space - Small warehouse-flex with an overhead door, built-out office, and rear trailer parking for operational convenience.
    Where is this flex space located?
    The property is located at 5150 E 81st Ave Merrillville, IN.
    What are key features of this property?
    This property features: 900 SF warehouse/flex space built in 2007, located just off US 30; Overhead door plus a built‑out office area for on‑site operations; Rear trailer/truck parking available at the property
    (219) 864-0200
    We can help!
    Listing Contact
    Brett McDermott
    Brett McDermott
    Real Estate License ID: RB14050416
    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

    Thank You for Inquiry
    5150 E 81st Ave, Merrillville, IN 46410
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!