Office Condominium Suite with Conference
For Sale
$259,000
8025 Wicker Avenue, Schererville, IN 46373
SINGLE_FAMILY - Schererville, IN
Property Size1,200 SF
Lot Size3.12 Acres
Price / SF$215.83
Days on Market161
Property Features for 8025 Wicker Avenue
General Information
Property type
Residential
Property subtype
Office
Parking
10
Appliances
Microwave, Refrigerator
Subdivision
Tri-Town Commons
Lot features
Paved
Directions
Building located on the East side of US 41 between 77th Ave and Lake Central High School
Standard status
Active
APN
451121152003000036
Size
1,200 SF
Lot size
3.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
TRI-TOWN COMMONS UNIT C
Tax Annual Amount
2560
Legal Description
TRI-TOWN COMMONS UNIT C
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
2008
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Jeffrey Fryzel · License #475168697
(708) 243-1827
Added: Mar 10
Changed: Aug 1
Last Checked: Aug 17 at 12:06AM
MLS# 835204
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Efficiently designed office condominium suite offering a reception area with built-in front desk, one enclosed office, and a large conference room that could be reconfigured into a second office. The suite also includes a spacious kitchen with refrigerator and microwave, a restroom, and a larger storage room. Heating is forced air on natural gas, with public water and public sewer service. Built in 2008, the unit is currently vacant and ready for immediate occupancy or lease-up under a tenant-managed HOA.
Located at 8025 Wicker Avenue in Schererville, Indiana, the property is described as highly visible along the St. John / Schererville corridor and on US-41, with monument signage opportunity for business identification.
Suite C is configured for a range of client-service uses, and the listing also notes adjacent office condominium availability for expansion by acquiring neighboring Suite B (also listed at 1,200 SF) to create approximately 2,400 SF combined.
Located at 8025 Wicker Avenue in Schererville, Indiana, the property is described as highly visible along the St. John / Schererville corridor and on US-41, with monument signage opportunity for business identification.
Suite C is configured for a range of client-service uses, and the listing also notes adjacent office condominium availability for expansion by acquiring neighboring Suite B (also listed at 1,200 SF) to create approximately 2,400 SF combined.
Key Highlights
- 1,200 SF office condominium suite, Suite C
- Reception with built‑in front desk plus one enclosed office
- Large conference room that could be reconfigured into a second office
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
$16,796
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
6.48%
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%
$335,920
$335.9K
Cap Rate 7%
$239,943
$239.9K
Cap Rate 9%
$186,622
$186.6K
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
$31.1K $25.92/SF
− Vacancy
−$3.1K −$2.59/SF
EGI
$28.0K $23.33/SF
− OpEx
−$11.2K −$9.33/SF
NOI
$16.8K $14.00/SF
Area
Lake County, IN
Vacancy
10.00%
Lease Rate
$25.92 /SF/Yr
Expense Ratio
40.00%
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%
$335,920
Cap Rate 7%
$239,943
Cap Rate 9%
$186,622
Alternative Uses
Best Use
Healthcare Medical
$239.9K
$210.0K – $279.9K
NOI $16,796 @ 7.0% cap · market cap 6.48%
Second Best
Office B
$217.5K
$190.3K – $253.7K
NOI $15,222 @ 7.0% cap · market cap 5.88%
Theoretical Best
Specialty Retail
$335.0K
$293.1K – $390.8K
NOI $23,450 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
285
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 - Vacant 1,200 SF office suite with reception, enclosed office, and large conference room, plus restroom, kitchen, and storage.
Where is this office units located?
The property is located at 8025 Wicker Avenue Schererville, IN.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 1,200 SF office condominium suite, Suite C; Reception with built‑in front desk plus one enclosed office; Large conference room that could be reconfigured into a second office
