This exceptional Class A office building, Merrillville Corporate Center, offers two available suites in a highly desirable location at 8001 Broadway, Merrillville, IN 46410. The building boasts approximately 47,148 rentable square feet, situated on a 2.81-acre lot and built in 1992. Suites range from 1,355 to 7,569 square feet, providing flexibility for various business needs. Suite 102, a prominent 2,153-2,253 square foot space, features six offices, a conference room, storage/copy room, and reception area. Suite 303 offers 2,820-3,266 square feet with five offices, a break area, two file rooms, a conference room, five cubicles, and a reception/waiting area. Both suites include upgraded finishes such as new parabolic lighting, perforated vertical blinds, and solid full-height doors. The building provides convenient amenities including two elevators and ADA-compliant bathrooms. High-speed fiber optics are available through AT&T. The building enjoys a prime location, with excellent visibility and accessibility. It's situated on the southeast corner of Broadway and 80th Place, one block east of Broadway (SR 53), one-half mile west of I-65, and only one stoplight north of US Highway 30. A 2020 INDOT traffic count showed 15,373 cars per day on Broadway north of US Highway 30. The building is also within walking distance of numerous restaurants and amenities. Triple net expenses, including heat, air conditioning, and five-day janitorial service, are estimated at $10.80 per square foot, plus an estimated $1.00 per square foot for separately metered lights and outlets (CAM @ $8.00/sf
Property Features for 8001 Broadway
General Information
Property type
Office Properties & Spaces
Lease Type
Gross Lease
RSF (Rentable sq. ft)
47,148 SF
Class
A
Total Rate
58935
Building Details
Year Built
1992
Spaces For Lease
at 8001 Broadway, Merrillville, IN 46410Contact us
Unit Suite 102
$15 /Mo
Size
2,253 SF
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Unit Suite 303
$15 /Mo
Size
3,266 SF
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Listing Contact
David Lasser
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Property Insight Report
HighLights
Excellent walkability to diverse restaurants and retail, including Gino's Steakhouse and CVS.
High‑speed AT&T fiber optics available.
Ample parking with a 3.6:1,000 SF ratio (189 spaces total).
Prestigious Class A office building.
Convenient location: 0.5 miles to US Hwy 30, 1 mile to I‑65, 40 miles to Chicago Loop.
Office Property / Space - Class A Office Space, Prime Location
Where is this office property / space located?
The property is located at 8001 Broadway Merrillville, IN.
What is the lease rate?
The lease rate is $15 SF/Yr.
What are key features of this property?
This property features: Excellent walkability to diverse restaurants and retail, including Gino's Steakhouse and CVS.; High-speed AT&T fiber optics available.; Ample parking with a 3.6:1,000 SF ratio (189 spaces total).
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8001 Broadway Merrillville, IN 46410
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Stat Estimate
This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all similar sales ($/sqft) are above this value
Range-to: 75% of all similar sales ($/sqft) are below this value
AI Estimate
This method estimates value based on AI market estimation of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all estimations ($/sqft) are above this value
Range-to: 75% of all estimations ($/sqft) are below this value
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
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8001 Broadway Merrillville, IN 46410
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8001 Broadway, Merrillville, IN
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