Four-Unit Office Building with Paved
For Sale
$700,000
9421 Joliet Street, St John, IN 46373
SINGLE_FAMILY - St. John, IN
Property Size3,740 SF
Lot Size0.31 Acres
Price / SF$187.17
Days on Market385
Property Features for 9421 Joliet Street
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial
Rooms
Basement
Parking
8
Parking features
Off Street
Security features
Security Lighting
Interior features
Ceiling Fan(s), Tray Ceiling(s), Stone Counters, Recessed Lighting, Open Floorplan, Entrance Foyer
Exterior features
Lighting, Rain Gutters
Basement
Sump Pump, Finished, Interior Entry, Full
Appliances
Refrigerator, Water Softener Owned, Water Heater
Subdivision
Georgious Add
Lot features
Corner Lot, Sprinklers In Front, Landscaped
View
City
High school
Lake Central High School
Elementary school district
Lake Central
Middle school district
Lake Central
High school district
Lake Central
Directions
U.S. Hwy 41to Joliet Street. Building is on the corner of Joliet Street and U.S. Hwy 41. Next to Dunkin Donuts
Standard status
Active
APN
451133101032000035
Size
3,740 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GEORGIOU'S ADDITION LOT 1
Tax Annual Amount
7962
Legal Description
GEORGIOU'S ADDITION LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
2008
Listing Agency:
JK Pro Realty, LLC
(219) 558-0412
Listed By:
Jimmy Karalis · License #IN RB14035192
(219) 712-1567
Added: Jul 12, 2025
Changed: Jul 30
Last Checked: Jul 31 at 4:06PM
MLS# 824153
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well maintained and updated four-unit office building built in 2008, offering a practical setup for an owner user or office/medical use. The space is divided into four units and is fully rented. The property includes 3,740 square feet of office space on a 0.313-acre lot with its own paved parking lot.
Interior features include ceiling fans, tray ceilings, stone counters, recessed lighting, and an open floor plan with an entrance foyer. Heating is provided by natural gas forced air. Exterior features include lighting and rain gutters.
Utilities are connected to public water and public sewer, supporting day-to-day operations. The building is located just off Route 41/Wicker Avenue, with visibility that can support office or medical traffic.
Interior features include ceiling fans, tray ceilings, stone counters, recessed lighting, and an open floor plan with an entrance foyer. Heating is provided by natural gas forced air. Exterior features include lighting and rain gutters.
Utilities are connected to public water and public sewer, supporting day-to-day operations. The building is located just off Route 41/Wicker Avenue, with visibility that can support office or medical traffic.
Key Highlights
- 4 units fully rented
- 3,740 SF office building on 0.313‑acre lot
- Built in 2008 with paved off‑street parking lot
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 | $96.9k | $25.92 |
| − Vacancy | −$9.7k | −$2.59 |
| EGI | $87.2k | $23.33 |
| − OpEx | −$34.9k | −$9.33 |
| NOI | $52.3k | $14.00 |
3,740 SF · lease $25.92/SF/yr · vacancy 10.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$747.8K
$654.4K – $872.5K
NOI $52,348 @ 7.0% cap · market cap 7.48%
Second Best
Office B
$677.7K
$593.0K – $790.7K
NOI $47,440 @ 7.0% cap · market cap 6.78%
Theoretical Best
Specialty Retail
$1.04M
$913.6K – $1.22M
NOI $73,084 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 46373, IN
17,839
Population
6,616
Households
2.7
Avg Household Size
44
Median Age
42%
College-Educated
94%
High-School Grad
10.9 sq mi
ZIP Area
1,637
Density / Sq Mi
$123,203
Median Household Income
$70,957
Median Earnings
$953
Median Rent
$375,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Four-unit office building with paved off-street parking, built in 2008 and fully rented.
Where is this office units located?
The property is located at 9421 Joliet Street St John, IN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 4 units fully rented; 3,740 SF office building on 0.313‑acre lot; Built in 2008 with paved off‑street parking lot
