St. John Office Condo For
For Sale
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8025 Wicker Avenue B, St John, IN 46373
1,200 SF office condo in high-visibility location.
Property Size1,200 SF
Price / SF$212.50
Days on Market154
Property Features for 8025 Wicker Avenue B
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Mixed Use, Office, Retail
Building Details
Year Built
2008
Listing Agency:
McColly Real Estate Corporate
(708) 243-1827
Listed By:
Jeffrey Fryzel · License #IN 475168697
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 10 at 9:36AM
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 McColly Real Estate Corporate
Investment Insights
Based on property information with market context.
This efficiently designed 1,200 SF office condominium presents a strong opportunity for either an owner-user or an investor. Situated in a highly visible location on US-41 along the St. John / Schererville corridor, the property benefits from excellent daily traffic exposure and the potential for monument signage, enhancing business visibility. The interior layout features a large, open front workspace, complemented by two enclosed offices and a dedicated conference room, creating a functional environment suitable for various professional or service-based businesses. Additional amenities include a kitchenette equipped with a refrigerator, a restroom, a storage closet, and carpeted flooring throughout. An opportunity exists to acquire the adjacent 1,200 SF Unit C, potentially expanding the total space to approximately 2,400 SF. This allows for flexible usage options, such as occupying one unit while leasing the other, combining both suites for a larger office footprint, or utilizing the space as an investment property. The building is operated under a tenant-managed HOA. The unit is currently vacant and available for immediate occupancy or tenant placement. Owner financing may be considered for qualified buyers, offering additional flexibility for acquisition.
Key Highlights
- Highly visible US‑41 location with excellent daily traffic exposure and monument signage opportunity.
- Functional layout includes a large open workspace, two enclosed offices, and a dedicated conference room.
- Rare opportunity to acquire adjacent 1,200 SF Unit C for potential expansion to approximately 2,400 SF.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,222
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,440
$304.4K
Cap Rate 7%
$217,457
$217.5K
Cap Rate 9%
$169,133
$169.1K
Market Conditions
NOI Build-Up for 1,200 SF
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.
Gross rent
$25.9K $21.60/SF
− Vacancy
−$5.6K −$4.69/SF
EGI
$20.3K $16.91/SF
− OpEx
−$5.1K −$4.23/SF
NOI
$15.2K $12.68/SF
Area
Lake County, IN
Vacancy
21.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,440
Cap Rate 7%
$217,457
Cap Rate 9%
$169,133
Alternative Uses
Best Use
Office B
$217.5K
$190.3K – $253.7K
NOI $15,222 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$335.0K
$293.1K – $390.8K
NOI $23,450 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 46373, IN
17,839
Population
6,616
Households
2.7
Avg Household Size
44
Median Age
42%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
1,637
Density / Sq Mi
$123,203
Median Household Income
$70,957
Median Earnings
$953
Median Rent
$375,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 1,200 SF office condo in high-visibility location.
Where is this office units located?
The property is located at 8025 Wicker Avenue B St John, IN.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Highly visible US‑41 location with excellent daily traffic exposure and monument signage opportunity.; Functional layout includes a large open workspace, two enclosed offices, and a dedicated conference room.; Rare opportunity to acquire adjacent 1,200 SF Unit C for potential expansion to approximately 2,400 SF.
