Built-Out Flex Space with
For Sale
$3,200,000
9404 Margo Lane, Munster, IN 46321
Commercial Sale, Munster, IN
Property Size14,534 SF
Lot Size2.33 Acres
Price / SF$220.17
Days on Market285
Property Features for 9404 Margo Lane
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMR
Directions
I-80/94 to Calumet Avenue, south to 45th St. West to Margo Lane (Providence Bank), South to 9404 Margo Lane
Subdivision
Indiana - Munster
Standard status
Active
APN
450625300013000027
Lot size
2.33 Acres
Additional Details
Property Use
Office
Condition
Turnkey
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
78510
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Amenities
reception area
conference room
break area
charging stations
employee break room
full kitchen
copy room
Building Details
Year built
2017
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Carpet
Building materials
Brick, Steel Siding
Roof type
Metal
Buildings
2
Listing Agency:
Realty Executives Premier Illinois · Realty Executives International
(630) 668-1199
Listed By:
Bill Port
(219) 405-3647
Added: Jan 16
Changed: Oct 23
Last Checked: Oct 28 at 10:06AM
MLS# 12548552
Copyright © 2026 Midwest Real Estate Data, LLC. 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 14,534-square-foot flex property includes a 13,382-square-foot office building and a separate 1,152-square-foot garage providing additional storage. The interior features 11 private executive offices, more than 50 workstations, a reception and waiting area, conference room seating for 16, multiple restrooms, two break areas, a full kitchen, copy room, and shipping and warehouse space. Furnishings include desks, chairs, cabinetry, and workstations. Built in 2017, the building has brick and steel siding, a metal roof, central air, vinyl and carpet flooring, and natural gas availability.
The 2.33-acre site includes 63 parking spaces and 4 garage spaces, with the building occupying approximately half of the usable lot. The property is adjacent to 45th Street and Margo Lane in Munster, 1 mile from Lansing, IL Municipal Airport, 3 miles from the Dyer South Shore Commuter Train Station, and less than 3 miles from the Munster South Shore Train station. Three area hospitals are located within minutes of the property.
The 2.33-acre site includes 63 parking spaces and 4 garage spaces, with the building occupying approximately half of the usable lot. The property is adjacent to 45th Street and Margo Lane in Munster, 1 mile from Lansing, IL Municipal Airport, 3 miles from the Dyer South Shore Commuter Train Station, and less than 3 miles from the Munster South Shore Train station. Three area hospitals are located within minutes of the property.
Key Highlights
- 13,382‑square‑foot office building plus 1,152‑square‑foot garage, totaling 14,534 square feet
- 11 private executive offices and over 50 workstations
- 63 parking spaces plus 4 garage spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$184,358
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,687,160
$3.7M
Cap Rate 7%
$2,633,686
$2.6M
Cap Rate 9%
$2,048,422
$2.0M
Market Conditions
NOI Build-Up for 14,534 SF
Gross rent
$313.9K $21.60/SF
− Vacancy
−$68.1K −$4.69/SF
EGI
$245.8K $16.91/SF
− OpEx
−$61.5K −$4.23/SF
NOI
$184.4K $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%
$3,687,160
Cap Rate 7%
$2,633,686
Cap Rate 9%
$2,048,422
Alternative Uses
Best Use
Office B
$2.63M
$2.30M – $3.07M
NOI $184,358 @ 7.0% cap · market cap 5.76%
Second Best
Warehouse
$1.46M
$1.28M – $1.71M
NOI $102,387 @ 7.0% cap · market cap 3.20%
Theoretical Best
Specialty Retail
$4.06M
$3.55M – $4.73M
NOI $284,013 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 46321, IN
23,894
Population
9,786
Households
2.4
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
7.6 sq mi
ZIP Area
3,144
Density / Sq Mi
$105,764
Median Household Income
$57,796
Median Earnings
$1,480
Median Rent
$312,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - The property combines furnished office areas with shipping, warehouse, and storage functions.
Where is this flex space located?
The property is located at 9404 Margo Lane Munster, IN.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 13,382‑square‑foot office building plus 1,152‑square‑foot garage, totaling 14,534 square feet; 11 private executive offices and over 50 workstations; 63 parking spaces plus 4 garage spaces
