Two-Story Office
For Sale
$295,900
900 Parker Place, Schererville, IN 46375
Commercial Sale, Schererville, IN
Property Size1,682 SF
Lot Size0.61 Acres
Price / SF$175.92
Days on Market562
Property Features for 900 Parker Place
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
10
Exterior features
Lighting
Appliances
Refrigerator
Subdivision
900 Parker Place Office Condo
Lot features
Landscaped, Paved
Directions
Rt 41 to Parker Place.
Standard status
Active
APN
451108477004000036
Size
1,682 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
900 PARKER PLACE OFFICE CONDOMINIUM UNIT D
Tax Annual Amount
3502
Legal Description
900 PARKER PLACE OFFICE CONDOMINIUM UNIT D
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
2003
Listing Agency:
McColly Real Estate
(219) 322-5508
Listed By:
Suzanne Herrmann · License #475150205
(219) 613-4219
Added: Apr 24, 2025
Changed: Oct 16
Last Checked: Nov 6 at 3:06PM
MLS# 819594
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.
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Investment Insights
Based on property information with market context.
This 1,682-square-foot office unit is arranged across two stories with an open work area, reception area, private workroom, bathroom, tank closet, and storage. The upper level adds an open loft, office area, private workspace, and kitchenette with a break room. The property was built in 2003 and is equipped with forced-air heating, lighting, a refrigerator, public water, and public sewer.
The 0.61-acre property includes on-site parking and is currently used as a dental lab. Its combination of open and enclosed areas supports a range of professional office configurations while retaining practical support space for daily operations.
The 0.61-acre property includes on-site parking and is currently used as a dental lab. Its combination of open and enclosed areas supports a range of professional office configurations while retaining practical support space for daily operations.
Key Highlights
- 1,682‑square‑foot office unit on a 0.61‑acre property
- Two‑story layout with open work areas and an upper‑level loft
- Reception area, private workroom, bathroom, tank closet, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,335
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$426,700
$426.7K
Cap Rate 7%
$304,786
$304.8K
Cap Rate 9%
$237,056
$237.1K
Market Conditions
NOI Build-Up for 1,682 SF
Gross rent
$36.3K $21.60/SF
− Vacancy
−$7.9K −$4.69/SF
EGI
$28.4K $16.91/SF
− OpEx
−$7.1K −$4.23/SF
NOI
$21.3K $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 Rate 5%
$426,700
Cap Rate 7%
$304,786
Cap Rate 9%
$237,056
Alternative Uses
Best Use
Office B
$304.8K
$266.7K – $355.6K
NOI $21,335 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$469.5K
$410.9K – $547.8K
NOI $32,868 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
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Business Placement
Demographics for 46375, IN
24,051
Population
10,064
Households
2.4
Avg Household Size
46
Median Age
36%
College-Educated
96%
High-School Grad
12.8 sq mi
ZIP Area
1,879
Density / Sq Mi
$89,646
Median Household Income
$51,448
Median Earnings
$1,250
Median Rent
$295,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Lake County, IN
Properties on Market for Office Units in Lake County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Professional workspace with reception, private rooms, storage, and an upper-level loft with kitchenette and break area.
Where is this office unit located?
The property is located at 900 Parker Place Schererville, IN.
What is the asking price?
The asking price for this property is $295,900.
What are key features of this property?
This property features: 1,682‑square‑foot office unit on a 0.61‑acre property; Two‑story layout with open work areas and an upper‑level loft; Reception area, private workroom, bathroom, tank closet, and storage
