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    2008-2124 45 St Highland, IN 46322

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    For Lease
    Contact for pricing

    Prime Highland, IN retail space available.

    Lot size:
    88,588 SF

    Property Features for 2008-2124 45 St

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    88,588 SF
    Total Rate
    88588

    Building Details

    Year Built
    1984

    Spaces For Lease

    at 2008-2124 45 St, Highland, IN 46322 Contact us
    Unit Suite 29

    $14 /Mo

    Size
    2,400 SF
    Contact us
    Unit Suite 24

    $12 /Mo

    Size
    4,480 SF
    Contact us
    Unit Suite 43

    $16 /Mo

    Size
    1,200 SF
    Contact us
    Unit Suite 35

    $13 /Mo

    Size
    2,980 SF
    Contact us
    Unit Suite 28

    $14 /Mo

    Size
    2,400 SF
    Contact us
    Unit Suite 21

    $17 /Mo

    Size
    2,000 SF
    Contact us
    Unit Suite 16

    $20 /Mo

    Size
    2,080 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Brett Mcdermott
    Brett Mcdermott

    Listing Agency: Latitude Commercial Listing Agent: Brett Mcdermott

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Porte De L'eau Plaza, a 88,588 square foot strip center in Highland, Indiana, presents a compelling investment opportunity. Located at 2008-2124 45th Street, this property boasts a desirable location just a few miles south of the I-80/94 access to Chicago and immediately west of Indianapolis Boulevard, experiencing high traffic counts exceeding 40,000 vehicles per day. Built in 1984, the center sits on a 9.19-acre lot and is zoned B-1. The property features a diverse tenant mix and offers multiple spaces for lease, ranging from a minimum of 1,000 square feet to a maximum contiguous space of 4,480 square feet. Currently, 17,540 square feet are vacant, providing significant potential for new businesses. The property's APN is 45-07-32-201-002.000-026, and it's situated in Lake County. Large signage opportunities are available on 45th Street, enhancing visibility and attracting customers. This retail center offers a strong trade area with aggressive rental rates, making it an attractive investment in a thriving community. The property is conveniently located within the Chicago metropolitan area, benefiting from the region's robust economy and population. This is a rare opportunity to acquire a well-positioned retail property in a high-traffic area with significant upside potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Neighborhood centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Highland
    County
    Lake
    State
    Indiana
    Longitude
    -87.4800327
    Latitude
    41.5367496

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      Highland Retail Space For Lease

      Retail spaces available in Porte De'Leau Plaza, Highland, IN.
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      Retail Space in Porte De'Leau

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    FAQs

    What type of property is this?
    Neighborhood center - Prime Highland, IN retail space available.
    Where is this neighborhood center located?
    The property is located at 2008-2124 45 St Highland, IN.
    What is the lease rate?
    The lease rate is $12-$20 SF/Yr.
    What are key features of this property?
    This property features: 88,588 SF strip center in Highland, IN, located at 2008-2124 45th Street.; Approximately 97% occupied, with 17,540 SF currently vacant.; Available spaces range from 1,000 to 4,480 SF.
    (219) 864-0200 Call to check price and availability
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    2008-2124 45 St Highland, IN 46322
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    Highland, IN 46322
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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.

    More about this property
    2008-2124 45 St Highland, IN 46322
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brett Mcdermott
    Brett Mcdermott
    Real Estate License ID: RB14050416
    (219) 864-0200 (219) 545-4328 (209) 864-0200
    Learn more
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