Office Suite with Private
For Sale
$229,000
9721 Prairie Ave, Highland, IN 46322
Office suite with multiple private offices, reception area, large windows, and ample on-site parking.
Property Size1,370 SF
Price / SF$167.15
Days on Market178
Property Features for 9721 Prairie Ave
General Information
Standard status
Active
Size
1,370 SF
Property subtype
Commercial
Building Details
Year Built
1988
Listing Agency:
McCormick Real Estate, Inc.
Listed By:
Jeff McCormick · License #RB14033291
(219) 508-7686
Source:
Nwindianahomesearcher
Added: May 11
Changed: Nov 1
Last Checked: Nov 3 at 7:13AM
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 McCormick Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This office suite offers a flexible layout with multiple private offices, a welcoming reception area, and dedicated workspace options. Large windows provide natural light throughout the space, supporting a bright, professional work environment.
Located at 9721 Prairie Ave in Highland, IN, the property is described as highly visible and easily accessible along Prairie Avenue. It is just minutes from Indianapolis Blvd and positioned near major Highland retail corridors, with proximity to restaurants, shopping, and key transportation routes.
The building provides ample on-site parking to support smooth access for both staff and clients.
Located at 9721 Prairie Ave in Highland, IN, the property is described as highly visible and easily accessible along Prairie Avenue. It is just minutes from Indianapolis Blvd and positioned near major Highland retail corridors, with proximity to restaurants, shopping, and key transportation routes.
The building provides ample on-site parking to support smooth access for both staff and clients.
Key Highlights
- Office suite on Prairie Avenue with multiple private offices plus a welcoming reception area
- Large windows throughout for natural light
- Flexible layout with dedicated workspace options for different business needs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,378
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,560
$347.6K
Cap Rate 7%
$248,257
$248.3K
Cap Rate 9%
$193,089
$193.1K
Market Conditions
NOI Build-Up for 1,370 SF
Gross rent
$29.6K $21.60/SF
− Vacancy
−$6.4K −$4.69/SF
EGI
$23.2K $16.91/SF
− OpEx
−$5.8K −$4.23/SF
NOI
$17.4K $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%
$347,560
Cap Rate 7%
$248,257
Cap Rate 9%
$193,089
Alternative Uses
Best Use
Office B
$248.3K
$217.2K – $289.6K
NOI $17,378 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$382.5K
$334.7K – $446.2K
NOI $26,772 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
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Business Placement
Demographics for 46322, IN
23,984
Population
10,791
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
93%
High-School Grad
6.9 sq mi
ZIP Area
3,476
Density / Sq Mi
$76,219
Median Household Income
$47,458
Median Earnings
$1,202
Median Rent
$219,500
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Office suite with multiple private offices, reception area, large windows, and ample on-site parking.
Where is this office unit located?
The property is located at 9721 Prairie Ave Highland, IN.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Office suite on Prairie Avenue with multiple private offices plus a welcoming reception area; Large windows throughout for natural light; Flexible layout with dedicated workspace options for different business needs
