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    9410 Calumet Ave, Unit STE 103A/B Munster, IN 46321

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    For Sale
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    First-floor condominium unit in a rapidly developing commercial corridor.

    Property size:
    3,300 SF

    Property Features for 9410 Calumet Ave

    General Information

    Standard status
    Active
    Size
    3,300 SF

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    Listing Contact
    David Lasser
    David Lasser
    Source: Crexi

    Listing Agency: Commercial In-Sites LLC Listing Agent: David Lasser

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

    Learn more

    Overview

    Calumet Avenue Commercial Condominium Unit

    Located within the Munster Maple Leaf Crossing, this first-floor condominium unit offers an opportunity for investment or occupancy. The 3,300 USF (3,861 RSF) unit is currently divided, with Unit 103A (1,800 USF/2,106 RSF) leased to Vision Boutique/My Eye Doctor for three years, with options for two additional three-year extensions. Unit 103B (1,500 USF/1,755 RSF) is an unfinished shell. The property is part of a community featuring a Hyatt Place Hotel, modern professional offices, and proximity to Centennial Park. Current tenants include Centers for Digestive Health, Dr. Mary Tilak & Associates, Zubair Cosmetic Genecology & Med Spa, Restful Sleep Indigo Partners, and Center for Vein Restoration. The projected POA dues for interior common areas and exterior areas for 2025 are estimated at $9,310.02 per suite, or $1.73/USF/$1.48/RSF. Real estate taxes for 2024, payable in 2025, are $18,063.56, or approximately $5.47/USF and $4.70/RSF. Situated on the west side of Calumet Avenue, the property is located ½ mile south of Community Hospital and 2 miles south of I-80/94. It is also located 1/4 mile north of Centennial Village. The location is suitable for tenants in the medical and professional industries. The INDOT 2025 traffic count on Calumet Ave is 30,297 vehicles per day.
    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

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Munster
    County
    Lake
    State
    Indiana
    Longitude
    -87.509841
    Latitude
    41.54262

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    FAQs

    What type of property is this?
    Mixed-use property - First-floor condominium unit in a rapidly developing commercial corridor.
    Where is this mixed-use property located?
    The property is located at 9410 Calumet Ave, Unit STE 103A/B Munster, IN.
    What are key features of this property?
    This property features: - Leased Investment Opportunity: Collect rent immediately from a portion of the unit (Unit 103A) leased to Vision Boutique/My Eye Doctor with a lease extending up to 9 years.; - Prime Location: Situated in the rapidly developing Munster Maple Leaf Crossing on Calumet Avenue, a high-traffic commercial corridor.; - High-Growth Area: Located within a mixed-use campus integrating office, medical, and retail, near Community Hospital and Centennial Village.
    (219) 795-1100
    Request Owner's contact information
    9410 Calumet Ave, Unit STE 103A/B Munster, IN 46321
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    Munster, IN 46321
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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
    9410 Calumet Ave, Unit STE 103A/B Munster, IN 46321
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    Listing Contact
    David Lasser
    David Lasser
    Real Estate License ID: RB14026085
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