Multi-Tenant Retail Shopping
7880-7896 Broadway Merrillville, IN 46410
For Sale
Contact for pricing
Liberty Square is a multi-tenant retail center on Broadway with recent roof and rooftop HVAC improvements.
Property Size48,327 SF
Price / SF$113.81
Days on Market81
Property Features for 7880-7896 Broadway
General Information
- Standard status
- Active
- Size
- 48,327 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1967
Listing Agency:
EXP Commercial
Listed By:
John Mathewson · License #INDIANA | RB14051634
Source:
Crexi
Added: May 4
Changed: Jul 23
Last Checked: Jul 23 at 10:59AM
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 EXP Commercial
Investment Insights
Based on property information with market context.
Liberty Square Shopping Center is a 48,327-square-foot, multi-tenant retail property offering a mix of retail categories with 22 executed leases. The center includes 6,372 square feet of vacant space and has been positioned for value through lease-up and mark-to-market rent adjustments. Recent capital improvements include new TPO roofs (approximately 2021) and new rooftop HVAC units (RTUs) across both buildings, helping minimize near-term capital needs.
The property is located on Broadway (SR 53) in Merrillville, Indiana, on NW Indiana’s primary retail corridor. It benefits from proximity to I-65, US-30, and Southlake Mall, with traffic described as 35,000+ vehicles per day.
The center’s configuration supports continuing tenant occupancy across its diverse retail footprint, with broad representation including dental, wellness, beauty, food service, and specialty retail.
The property is located on Broadway (SR 53) in Merrillville, Indiana, on NW Indiana’s primary retail corridor. It benefits from proximity to I-65, US-30, and Southlake Mall, with traffic described as 35,000+ vehicles per day.
The center’s configuration supports continuing tenant occupancy across its diverse retail footprint, with broad representation including dental, wellness, beauty, food service, and specialty retail.
Key Highlights
- 48,327 SF multi‑tenant retail shopping center on Broadway (SR 53) in Merrillville, IN
- 8.69% in‑place cap rate, with value‑add potential via lease‑up of 6,372 SF of vacant space and rent mark‑to‑market adjustments
- 22 executed leases with tenants in dental, wellness, beauty, food service, and specialty retail categories
Financial Insights For Retail
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 | $695.9k | $14.40 |
| − Vacancy | −$30.6k | −$0.63 |
| EGI | $665.3k | $13.77 |
| − OpEx | −$199.6k | −$4.13 |
| NOI | $465.7k | $9.64 |
48,327 SF · lease $14.40/SF/yr · vacancy 4.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.65M
$5.82M – $7.76M
NOI $465,702 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.49M
$11.80M – $15.74M
NOI $944,370 @ 7.0% cap · market cap 17.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Shopping centers
Similar Off Market Nearby
- Liberty Square Shopping Center — 7886 Broadway, Merrillville, IN 46410
- Quick-Tag — meijer 611, 611 US-30, Merrillville, IN 46410
- Lincoln Junction Plaza — E 81st Ave, Merrillville, IN 46410
- Century Plaza — 8203 Broadway, Merrillville, IN 46410
- Broadway Center — 257 W Lincoln Hwy, Merrillville, IN 46410
FAQs
What type of property is this?
Shopping center - Liberty Square is a multi-tenant retail center on Broadway with recent roof and rooftop HVAC improvements.
Where is this shopping center located?
The property is located at 7880-7896 Broadway Merrillville, IN.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 48,327 SF multi‑tenant retail shopping center on Broadway (SR 53) in Merrillville, IN; 8.69% in‑place cap rate, with value‑add potential via lease‑up of 6,372 SF of vacant space and rent mark‑to‑market adjustments; 22 executed leases with tenants in dental, wellness, beauty, food service, and specialty retail categories
