Freestanding Retail
New
For Sale
$2,750,000
6100 Broadway, Merrillville, IN 46410
The former pharmacy occupies a signalized corner with access from multiple directions.
Property Size16,848 SF
Lot Size2.34 Acres
Price / SF$163.22
Days on Market3
Property Features for 6100 Broadway
General Information
Standard status
Active
Size
16,848 SF
Lot size
2.34 Acres
Property subtype
Retail
Additional Details
Asking Price
$2,750,000
Corner Location
Yes
Building Details
Building Size
16,848 SF
Year Built
1996
Listing Agency:
Premier Commercial Real Estate Services, Inc.
Listed By:
Melissa Blackwell · License #RB15000222
(317) 384-9756
Source:
Tcnworldwide
Added: Nov 4
Last Checked: Nov 6 at 6:06AM
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding retail property was built in 1996 and previously operated as a pharmacy. The building contains 16,848 square feet on a 2.34-acre parcel, with signage opportunities as part of the property’s commercial presence.
The site sits at a signalized intersection and offers customer access from multiple directions. Interstate 65 and U.S. Highway 30 are a short drive away.
The site sits at a signalized intersection and offers customer access from multiple directions. Interstate 65 and U.S. Highway 30 are a short drive away.
Key Highlights
- 16,848‑square‑foot freestanding retail building
- 2.34‑acre parcel
- Signalized intersection with access from multiple directions
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
152k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Shops & Services 29%
Groceries 26%
Apparel 8%
Strack & Van Til
Groceries
39,812 visits/mo
0.2 miles
McDonald's
Dining
20,774 visits/mo
0.2 miles
Dollar Tree
Shops & Services
16,594 visits/mo
0.3 miles
Burger King
Dining
10,116 visits/mo
0.0 miles
KFC
Dining
8,681 visits/mo
0.5 miles
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
$192,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 former pharmacy occupies a signalized corner with access from multiple directions.
Where is this retail space located?
The property is located at 6100 Broadway 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 freestanding retail building; 2.34‑acre parcel; Signalized intersection with access from multiple directions
