Office Unit with Private
9721 Prairie Avenue, Highland, IN 46322
For Sale
$229,000
Commercial Sale, Highland, IN
Property Size1,370 SF
Lot Size0.88 Acres
Price / SF$167.15
Days on Market124
Property Features for 9721 Prairie Avenue
General Information
Property type
Property subtype
Parking
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Listing Agency:
McCormick Real Estate, Inc.
(219) 663-9300
Listed By:
Jeff McCormick · License IN RB14033291
(219) 613-5643
Added: Jul 10
Changed: Oct 16
Last Checked: Nov 10 at 5:06PM
MLS# 842125
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.
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Investment Insights
Based on property information with market context.
This 1,370-square-foot office unit includes several private offices, a reception area, and dedicated workspace within a flexible commercial layout. Large windows bring natural light into the suite, while on-site parking supports convenient arrival for employees and visitors. The building was constructed in 1988 and is served by forced-air heating.
Located at 9721 Prairie Avenue in Highland, Indiana, the property provides access to Indianapolis Boulevard and nearby retail corridors, restaurants, shopping, and transportation routes. Public water and public sewer serve the property, with cable available. The configuration offers a practical setting for a range of professional office operations.
Located at 9721 Prairie Avenue in Highland, Indiana, the property provides access to Indianapolis Boulevard and nearby retail corridors, restaurants, shopping, and transportation routes. Public water and public sewer serve the property, with cable available. The configuration offers a practical setting for a range of professional office operations.
Key Highlights
- 1,370‑square‑foot office unit with flexible commercial layout
- Multiple private offices, reception area, and dedicated workspace
- Large windows provide natural light throughout the suite
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
993
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
$219,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Lake County, IN
Properties on Market for Office Units in Lake County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Professional office suite with reception space, private rooms, natural light, and on-site parking.
Where is this office unit located?
The property is located at 9721 Prairie Avenue 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: 1,370‑square‑foot office unit with flexible commercial layout; Multiple private offices, reception area, and dedicated workspace; Large windows provide natural light throughout the suite
