Merrillville Retail Space For
8205 Broadway, Merrillville, IN 46410
For Sale
Contact for pricing
20,389 SqFt retail space in Merrillville, Indiana. 7.50% CAP.
Property Size20,389 SF
Price / SF$156.11
Days on Market255
Property Features for 8205 Broadway
General Information
Standard status
Size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Tenancy
Listing Agency:
Mid-America Real Estate
Listed By:
Nick Kohlmann
(630) 954-7329
Source:
Crexi
Added: Mar 5
Changed: Nov 12
Last Checked: Nov 12 at 5:20AM
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 Mid-America Real Estate
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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 commercial real estate offering features a 20,389-square-foot retail space. The property is located in Merrillville, Indiana. The property is being offered for sale at a 7.50% capitalization rate.
Key Highlights
- 7.50% CAP Rate
- 20,389 SqFt Retail Space
- Built in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$196,478
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,929,560
$3.9M
Cap Rate 7%
$2,806,829
$2.8M
Cap Rate 9%
$2,183,089
$2.2M
Market Conditions
NOI Build-Up for 20,389 SF
Gross rent
$293.6K $14.40/SF
− Vacancy
−$12.9K −$0.63/SF
EGI
$280.7K $13.77/SF
− OpEx
−$84.2K −$4.13/SF
NOI
$196.5K $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%
$3,929,560
Cap Rate 7%
$2,806,829
Cap Rate 9%
$2,183,089
Alternative Uses
Best Use
Retail
$2.81M
$2.46M – $3.27M
NOI $196,478 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.69M
$4.98M – $6.64M
NOI $398,427 @ 7.0% cap · market cap 12.52%
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
1,864
Businesses Nearby
134k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Groceries 22%
Home Improvements & Furnishings 17%
Shops & Services 10%
Aldi
Groceries
29,441 visits/mo
0.4 miles
At Home
Home Improvements & Furnishings
16,456 visits/mo
0.4 miles
Golden Corral
Dining
13,427 visits/mo
0.2 miles
Hooters
Dining
11,481 visits/mo
0.1 miles
La Carreta Mexican Restaurant
Dining
8,933 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 - 20,389 SqFt retail space in Merrillville, Indiana. 7.50% CAP.
Where is this retail space located?
The property is located at 8205 Broadway Merrillville, IN.
What is the asking price?
The asking price for this property is $3,183,000.
What are key features of this property?
This property features: 7.50% CAP Rate; 20,389 SqFt Retail Space; Built in 2007
