Multi-Suite Office
910 Richard Road, Dyer, IN 46311
For Sale
$649,000
Three-office-suite building with two leased units through late 2027 and an available 1,014 sf suite for occupancy.
Property Size4,000 SF
Days on Market147
Property Features for 910 Richard Road
General Information
Standard status
Size
Class
Property subtype
Occupancy
Additional Details
Office Units
Building Details
Building Size
Year Built
Listing Agency:
Latitude Commercial
Listed By:
Antony Miocic · License IL 475.204802
(317) 658-5005
Source:
Latitudeco
Added: Jun 16
Changed: Nov 8
Last Checked: Nov 8 at 3:04AM
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 Latitude Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale office building is configured as three separate office suites of varying sizes. Two of the units, representing approximately 74% of the building, are currently occupied under leases that run into late 2027. A third suite is available for lease and measures 1,014 square feet; it was previously occupied by the building owner.
The property is located on Richard Road in Dyer, Indiana, just off the intersection of US 30 and Calumet Avenue. The asset sits in a southeastern suburb of Chicago and is within St. John Township in Lake County.
For buyers seeking an office property with in-place occupancy, this offering provides a combination of continued leased income through late 2027 and an additional suite that can be occupied by the buyer. For owner-users or tenants, the available 1,014 sf unit offers a straightforward path to move in and operate from a dedicated office space within a small, multi-suite building.
The property is located on Richard Road in Dyer, Indiana, just off the intersection of US 30 and Calumet Avenue. The asset sits in a southeastern suburb of Chicago and is within St. John Township in Lake County.
For buyers seeking an office property with in-place occupancy, this offering provides a combination of continued leased income through late 2027 and an additional suite that can be occupied by the buyer. For owner-users or tenants, the available 1,014 sf unit offers a straightforward path to move in and operate from a dedicated office space within a small, multi-suite building.
Key Highlights
- Three office suites in a building built in 1982
- Two units are currently leased with leases running into late 2027
- One 1,014 SF suite is available for lease and can be occupied by a buyer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,738
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,014,760
$1.0M
Cap Rate 7%
$724,829
$724.8K
Cap Rate 9%
$563,756
$563.8K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$86.4K $21.60/SF
− Vacancy
−$18.7K −$4.69/SF
EGI
$67.7K $16.91/SF
− OpEx
−$16.9K −$4.23/SF
NOI
$50.7K $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%
$1,014,760
Cap Rate 7%
$724,829
Cap Rate 9%
$563,756
Alternative Uses
Best Use
Office B
$724.8K
$634.2K – $845.6K
NOI $50,738 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.12M
$977.1K – $1.30M
NOI $78,165 @ 7.0% cap · market cap 12.04%
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
Lease Details
3
Office units
74%
Occupancy
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
Explore this area
Business Placement
Demographics for 46311, IN
22,431
Population
9,128
Households
2.5
Avg Household Size
43
Median Age
37%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
1,780
Density / Sq Mi
$109,167
Median Household Income
$58,332
Median Earnings
$1,221
Median Rent
$300,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for 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 - Three-office-suite building with two leased units through late 2027 and an available 1,014 sf suite for occupancy.
Where is this office unit located?
The property is located at 910 Richard Road Dyer, IN.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Three office suites in a building built in 1982; Two units are currently leased with leases running into late 2027; One 1,014 SF suite is available for lease and can be occupied by a buyer
