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

    7400-7420 Mississippi Street Merrillville, IN 46410

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Industrial spaces available in Northwest Indiana, near Chicago.

    Type:industrial.warehouse_distribution
    Property size:
    228,152 SF
    Added:
    Mar 7, 2026
    Days on Market:
    46
    Last Refresh:
    Mar 7 at 7:08 pm

    Property Features for 7400-7420 Mississippi Street

    General Information

    Standard status
    Active
    Size
    228,152 SF
    Property subtype
    industrial.warehouse_distribution

    We can help!

    Listing Contact
    Martin Mikaitis
    Martin Mikaitis

    Listing agent Martin Mikaitis

    Listing office Avison Young - US - IL - Chicago

    Listing date Mar 7, 2026

    Source Avisonyoung

    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 Avison Young - US - IL - Chicago

    Overview

    Industrial Space Near I-65

    Construction is underway at TLP Gateway 65 Logistics Center, situated approximately 40 miles from Chicago. This location provides industrial spaces ranging from 206,102 to 454,254 square feet. The property has frontage along I-65 and is located in the Northwest Indiana submarket. The property size is 228152 square feet.
    Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.316589
    Latitude
    41.481584

    Nearby Similar for Lease

    • $16/mo

      Spacious Building on Route 30

      16,660 SF building suitable for medical or commercial use.
      4200 W Lincoln Highway, Merrillville, IN 46410
      View Details
    • $37,113/mo

      Merrillville Office Building For Lease

      Professionally reconfigured office building with modern improvements and excellent access.
      8401 Ohio Street, Merrillville, IN 46410
      View Details
    • $2.00/mo

      Spacious Office Space in Merrillville

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

      Class A Office Space Available

      Class A office space in Merrillville Corporate Center for lease.
      8001 Broadway, Merrillville, IN
      View Details
    • Contact for pricing

      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
    • Sponsored
      Contact for pricing

      IN, Merrillville - Mississippi St

      8396 Mississippi St, Unit C, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Merrillville Office Space For Rent

      900 SF office space with reception, office, and conference room.
      280 W 80th Pl, Merrillville, IN 46410
      View Details
    • $20/mo

      Prominent Office Tower in Merrillville

      60,000+ SF contiguous office space available near I-65.
      8585 Broadway, Merrillville, IN 46410
      View Details
    • Contact for pricing

      NW Indiana Redevelopment Opportunity

      Centrally located building near retail and major redevelopment.
      1441 e 82nd Ave, Merrillville , IN 46410
      View Details
    • Contact for pricing

      Landmark Office Building, Renovated

      Prominent, renovated office building near I-65 and Methodist Hospital.
      8585 Broadway, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Retail Space in Merrillville Center

      3,774 SF retail space in a high-traffic Merrillville location.
      1600 79th Ave, Merrillville, IN 46410
      View Details
    • $12/mo

      Warehouse Space with I-65 Visibility

      3,157 SF warehouse space with utilities included and I-65 signage.
      8858 Louisiana St, Merrillville, IN
      View Details

    FAQs

    What type of property is this?
    Distribution center - Industrial spaces available in Northwest Indiana, near Chicago.
    Where is this distribution center located?
    The property is located at 7400-7420 Mississippi Street Merrillville, IN.
    What are key features of this property?
    This property features: Located only 40 miles from Chicago; Substantial frontage along I‑65; Located in the exploding Northwest Indiana submarket
    (847) 886-0224
    We can help!
    Listing Contact
    Martin Mikaitis
    Martin Mikaitis
    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!