Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5124 Pne Is Dr Merrillville, IN 46307

    • Retail properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 5124 Pne Is Dr

    Property type
    Retail properties
    Property subtype
    Office Properties & Spaces

    Description

    This exceptional 1,080 square foot traditional office suite is ideally situated in Pine Island Plaza, a high-traffic retail center located on Route 30, bordering Crown Point and Schererville, Indiana. The property boasts a prime business and retail location with excellent visibility and accessibility. The suite is a single-tenant space, perfect for a small business or professional office. The building features ample parking for tenants and customers. Family Dollar serves as an anchor tenant, ensuring consistent foot traffic. The lease rate is $13.00 per square foot, net-net, with a preferred lease term of 3-5 years. The monthly rent of $1514.17 includes common area maintenance (CAM), taxes, and insurance, totaling $344.17. This all-inclusive monthly cost provides predictable budgeting for the tenant. For businesses requiring more space, there's an option to combine this suite with units E, F, and K for a total of 5,388 square feet. The property's address is 5124 Pine Island Dr, Crown Point, IN 46307.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.3966
    Latitude
    41.4729

    Comparable in this City

    • Value Estimation by Request
      13,380 SF

      7310 Lincoln Hwy

      Lifestyle centers • 13,380 SF
      7310 Lincoln Hwy, Crown Point, IN 46307
      View Details
    • Value Estimation by Request
      28,800 SF

      1849 Summit St

      Neighborhood centers • 28,800 SF
      1849 Summit St, Crown Point, IN 46307
      View Details
    • Value Estimation by Request
      11,200 SF

      11040 Broadway

      Retail properties • 11,200 SF
      11040 Broadway, Crown Point, IN 46307
      View Details
    • Value Estimation by Request
      2,350 SF

      1205 Main St

      Individual retail properties • 2,350 SF
      1205 Main St, Crown Point, IN 46307
      View Details
    • Value Estimation by Request

      5124 Pne Is Dr

      Retail properties
      5124 Pne Is Dr, Merrillville, IN 46307
      View Details
    • Value Estimation by Request
      20,000 SF

      996 96 Pl Crown Pt

      Retail properties • 20,000 SF
      996 96 Pl Crown Pt, Crown Point, IN 46307
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,500 SF

      Randolph Street Retail Space

      New Crown Point Storefront Opportunity
      11500 Randolph St, Crown Point, IN 46307
      View Details
    • $650,000
      11,800 SF

      Retail Space in Growing Community

      New retail space for sale in Winfield, Indiana.
      11500-11555 Randolph St, Crown Point, IN 46307
      View Details
    • $810,000
      7,387 SF

      Mixed-Use Building on Crown Point Square

      Mixed-use property in high-traffic area with income potential.
      100 N Main St, Crown Point, IN 46307
      View Details
    • $1,755,000
      4,505 SF

      Turn-Key Restaurant Investment Opportunity

      Stabilized restaurant property in Crown Point with long-term tenant.
      10685 Randolph St, Crown Point, IN 46307
      View Details
    • $699,000

      Mixed-Use Property Near Crown Point

      Versatile investment property with residential and commercial income potential.
      300 S Court St, Crown Point, IN 46307
      View Details
    • $257,500
      2.01 Acres

      Crown Point Commercial Land Opportunity

      Two acres, prime location, full utilities.
      1575 Feather Rock Dr, Crown Point, IN 46307
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Crown Point Retail Opportunity

      20,000 SF Retail Center, Build-to-Suit Available
      996 96 Pl Crown Pt, Crown Point, IN 46307
      View Details
    • $15 SF/Yr
      10,500 SF

      Crown Point Warehouse Space Available

      10,500 SF Warehouse, Multiple Suites
      578 Indiana Ave, Crown Point, IN 46307
      View Details
    • $14 SF/Yr
      5,300 SF

      Crown Point Office Space Available

      Modern shared office suites, flexible options
      115 Court St, Crown Point, IN 46307
      View Details
    • $22 SF/Yr
      23,650 SF

      Crown Point Office Space Available

      Executive Suites & Offices in Prime Location
      710 Main St, Crown Point, IN 46307
      View Details
    • $22 SF/Yr

      Crown Point Office Space Available

      Former pediatric office space for lease in Crown Point.
      1501 S Court St, Crown Point, IN 46307
      View Details
    • $1,800 /Mo
      1,350 SF

      Crown Point Commercial Space For Lease

      Flexible commercial space suitable for various business types.
      10661 Randolph St, Crown Point, IN 46307
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5124 Pne Is Dr
    Merrillville, IN 46307
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.