First-Floor Office/Retail Condominium
9410 Calumet Ave Munster, IN 46321
For Sale
$850,000
First-floor unit combines a finished leased suite and an unfinished shell within a mixed-use campus.
Property Size3,300 SF
Price / SF$257.58
Days on Market155
Property Features for 9410 Calumet Ave
General Information
- Standard status
- Active
- Size
- 3,300 SF
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 2023
Listing Agency:
Commercial In-Sites
(219) 795-1100
Listed By:
David Lasser
(219) 795-1100
Source:
Thebrokerlist
Added: Feb 18
Changed: Jul 23
Last Checked: Jul 23 at 8:54AM
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 Commercial In-Sites
Investment Insights
Based on property information with market context.
This offering is a 1st floor office/retail condominium unit totaling 3,300 USF (3,861 RSF), presented as Unit 103A/B. Unit 103A is currently split and leased as 1,800 USF (2,106 RSF) to Vision Boutique/My Eye Doctor, with a three-year lease term and two additional three-year extensions. Unit 103B is an unfinished shell measuring 1,500 USF (1,755 RSF).
The property is located on the west side of Calumet Avenue, 1/2 mile south of Community hospital, and 2 miles south of I-80/94. It sits 1/4 mile north of Centennial Village, a mix of high-end retail and office space. INDOT 2025 traffic counts on Calumet Ave are listed at 30,297 vehicles per day.
Condominium association estimates provided include 2026 projected POA interior common area and 2026 projected POA exterior area dues of $9,310.02 per suite. Real estate taxes are listed at $18,063.56 for the 2024 pay 2025 cycle.
The property is located on the west side of Calumet Avenue, 1/2 mile south of Community hospital, and 2 miles south of I-80/94. It sits 1/4 mile north of Centennial Village, a mix of high-end retail and office space. INDOT 2025 traffic counts on Calumet Ave are listed at 30,297 vehicles per day.
Condominium association estimates provided include 2026 projected POA interior common area and 2026 projected POA exterior area dues of $9,310.02 per suite. Real estate taxes are listed at $18,063.56 for the 2024 pay 2025 cycle.
Key Highlights
- 3,300 USF (Unit 103A/B) first‑floor office/retail condo unit with 3,861 RSF total in a mixed‑use campus built in 2023
- Unit 103A is 1,800 USF (2,106 RSF) leased to Vision Boutique/My Eye Doctor with 3‑year term and two 3‑year extensions
- Unit 103B is 1,500 USF (1,755 RSF) unfinished shell, offering space to finish for additional occupancy or leasing
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.5k | $25.92 |
| − Vacancy | −$8.6k | −$2.59 |
| EGI | $77.0k | $23.33 |
| − OpEx | −$30.8k | −$9.33 |
| NOI | $46.2k | $14.00 |
3,300 SF · lease $25.92/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$659.8K
$577.4K – $769.8K
NOI $46,189 @ 7.0% cap · market cap 5.43%
Second Best
Office B
$598.0K
$523.2K – $697.7K
NOI $41,859 @ 7.0% cap · market cap 4.92%
Theoretical Best
Specialty Retail
$921.2K
$806.1K – $1.07M
NOI $64,486 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Centers for Digestive Health
Medical Clinic
GFI Wealth Partners
Financial Advisor
Vision Boutique | Eye ...
Physician
Dr. Kor
Corporate Office
Dr. Mary Tilak ...
Pediatrician
FAQs
What type of property is this?
Office units - First-floor unit combines a finished leased suite and an unfinished shell within a mixed-use campus.
Where is this office units located?
The property is located at 9410 Calumet Ave Munster, IN.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,300 USF (Unit 103A/B) first‑floor office/retail condo unit with 3,861 RSF total in a mixed‑use campus built in 2023; Unit 103A is 1,800 USF (2,106 RSF) leased to Vision Boutique/My Eye Doctor with 3‑year term and two 3‑year extensions; Unit 103B is 1,500 USF (1,755 RSF) unfinished shell, offering space to finish for additional occupancy or leasing
