Schererville Office Condo For
For Sale
$289,000
940 W Us-30, Schererville, IN 46375
High-visibility office condo ideal for medical, professional, or service users.
Property Size1,238 SF
Price / SF$233.44
Days on Market202
Property Features for 940 W Us-30
General Information
Standard status
Active
Size
1,238 SF
Building Details
Year Built
2008
Listing Agency:
McColly Real Estate
Listed By:
Adriana Gomez · License #RB25000377
(317) 431-6130
Source:
Amyboston.realtopiare
Added: Mar 27
Changed: Oct 10
Last Checked: Oct 7 at 5:35PM
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 McColly Real Estate
Investment Insights
Based on property information with market context.
This 1,238 square foot second-floor office condo is located at the signalized corner of US 41 and US 30 in Schererville. Constructed in 2008 and built out in 2011, the suite features four private offices, a conference room, and a kitchenette. It also includes an ADA-compliant private restroom and three lockable storage closets with built-in shelving. The layout is suitable for medical, professional, or service-oriented users, having previously been occupied by an in-home healthcare provider. The building provides ample shared parking at both the front and rear, accessible from both entrances. The second-floor unit can be reached via elevator and stair access, and a common area restroom is available on site. A Property Owners Association (POA) is in place, utilizing a professional management company for building maintenance. Common Area Maintenance (CAM) is charged quarterly, allocated based on each unit's square footage. Zoned commercial, the property offers excellent exposure with strong traffic counts. New development is planned nearby. It is ideal for an owner-user or investor seeking a well-located office condo in a high-traffic corridor.
Key Highlights
- High‑visibility location at the signalized corner of US 41 and US 30.
- Well‑suited layout for medical, professional, or service‑oriented users (formerly in‑home healthcare).
- 1,238 SF second‑floor office condo with four private offices, a conference room, and kitchenette.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,328
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,560
$346.6K
Cap Rate 7%
$247,543
$247.5K
Cap Rate 9%
$192,533
$192.5K
Market Conditions
NOI Build-Up for 1,238 SF
Gross rent
$32.1K $25.92/SF
− Vacancy
−$3.2K −$2.59/SF
EGI
$28.9K $23.33/SF
− OpEx
−$11.6K −$9.33/SF
NOI
$17.3K $14.00/SF
Area
Lake County, IN
Vacancy
10.00%
Lease Rate
$25.92 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,560
Cap Rate 7%
$247,543
Cap Rate 9%
$192,533
Alternative Uses
Best Use
Healthcare Medical
$247.5K
$216.6K – $288.8K
NOI $17,328 @ 7.0% cap · market cap 6.00%
Second Best
Office B
$224.3K
$196.3K – $261.7K
NOI $15,704 @ 7.0% cap · market cap 5.43%
Theoretical Best
Specialty Retail
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
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
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - High-visibility office condo ideal for medical, professional, or service users.
Where is this office units located?
The property is located at 940 W Us-30 Schererville, IN.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: High‑visibility location at the signalized corner of US 41 and US 30.; Well‑suited layout for medical, professional, or service‑oriented users (formerly in‑home healthcare).; 1,238 SF second‑floor office condo with four private offices, a conference room, and kitchenette.
