521 86Th Ave Merrillville, IN 46410
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32,792 SF Office, Value-Add Opportunity
Property size:
32,792 SFProperty Features for 521 86Th Ave
General Information
- Property type
- Medical offices
- Square Feet
- 32,792 SF
- Class
- B
- Lot Size
- 123,275 SF
Building Details
- Year Built/Renovated
- 1979/1985
- Buildings
- 1
- Stories
- 1
- Units
- 14
Listing Agency: SVN⎮Northern Commercial Listing Agent: Jess Lawhead
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This single-story, 32,792 square foot office building in Merrillville, Indiana, presents a compelling value-add investment opportunity. Located on a 2.83-acre lot at 521 E 86th Ave, this Class B property boasts 14 units, currently at 58% occupancy. Built in 1979 and renovated in 1985, the building offers a mix of executive and medical office suites, catering to diverse tenant needs. Features include private entries, restrooms, kitchenettes, conference rooms, co-working space, and ample parking (138 spaces) with monumental signage. The property is offered at $2,399,000, translating to $73.16 per square foot. The Net Net Net (NNN) lease structure and multi-tenant occupancy provide a solid foundation for income generation. The property's location in Lake County, Indiana, benefits from low property taxes ($1.41/SF). This is an ideal opportunity for an owner-user, medical/dental professional, executive office user, or investor seeking a property priced below replacement cost. The building's layout allows for various office configurations, accommodating a range of tenant sizes and uses. The substantial lot size offers potential for future expansion or development. The property's address is 521 E 86th Ave, Merrillville, IN 46410. The Assessor's Parcel Number (APN) is 45-12-27-103-003.000-030.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Kelly Hendrickson | Counselor ...
Counselor
Ms. Vanessa Qualls ...
Counselor
Starcevich Kristine L ...
Physician
Certified Sleep Center-Northern
Physician
Sagalovsky Helena MD
Physician
Location Insight
- Map
- Local Demand
- City
- Merrillville
- County
- Lake
- State
- Indiana
- Longitude
- -87.330847100553
- Latitude
- 41.461699582917
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FAQs
What type of property is this?
Medical office - 32,792 SF Office, Value-Add Opportunity
Where is this medical office located?
The property is located at 521 86Th Ave Merrillville, IN.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: 32,792 SF single-story office building on a 2.83-acre lot.; Suitable for executive and medical office uses.; Private entries and restrooms for each suite.