Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1995 Southlake Mall Merrillville, IN 46410

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1995 Southlake Mall Merrillville, IN 46410

    View on Map
    • Warehouses
    • 144,122 SF
    • 11.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CUBEWORK / Coworking & Hybrid Office

    Property Details for 1995 Southlake Mall

    Year built
    1976
    Lot size
    11.00 lot acres
    Property size
    144,122 SF
    Property type
    Warehouses
    Property subtype
    Specialty properties

    Description

    This exceptional Southlake Mall property offers 144,122 square feet of versatile warehouse and distribution space, perfect for a variety of businesses. The property features two parcels, zoned Parcel 1-PUD and Parcel 2-R4, encompassing 11 acres of land. Built in 1976, the building boasts a 17-foot ceiling height, providing ample storage and operational space. With 2 loading docks and 950 parking spaces, efficient loading and ample customer/employee parking are ensured. The property is currently configured for multiple tenants, with spaces available ranging from a minimum of 100 square feet to a maximum contiguous space of 50,000 square feet. This presents a unique opportunity for businesses of all sizes, from startups to established enterprises. The open-air, enclosed design is ideal for businesses seeking a modern, flexible workspace. Two brand-new spaces are immediately available for occupancy on November 15th, offering short-term lease options. The property's location within Southlake Mall provides excellent visibility and accessibility. This is an ideal location for businesses in various sectors, including startups, beauty and wellness, sports and entertainment, event spaces, cloud kitchens, makerspaces, and creative businesses. The flexible lease terms allow businesses to rent only the space they need, minimizing unnecessary costs.

    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
    -87.3104
    Latitude
    41.4678

    Comparable in this City

    • Value Estimation by Request
      9,672 SF

      3427 83Rd Pl

      Distribution properties • 9,672 SF
      3427 83Rd Pl, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      8,250 SF

      1463 86Th Pl

      Distribution properties • 8,250 SF
      1463 86Th Pl, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      18,178 SF

      8858-8898 Louisiana St

      Coworking space • 18,178 SF
      8858-8898 Louisiana St, Merrillville, IN 46410
      View Details
    • Value Estimation by Request
      0.27 Acres

      3889 74th Ct

      CHARITABLE ORGANIZATION • 0.27 Acres
      3889 74th Ct, Merrillville, IN 46410-4306
      View Details
    • Value Estimation by Request
      9.80 Acres

      1009 61st Ave

      CHARITABLE ORGANIZATION • 9.80 Acres
      1009 61st Ave, Merrillville, IN 46410-2705
      View Details
    • Value Estimation
      $815,000
      14,051 SF

      6360 Broadway

      FUNERAL HOME • 14,051 SF
      6360 Broadway, Merrillville, IN 46410-3006
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,327 SF

      Single-Tenant Cracker Barrel Investment Opportunity

      NNN leased Cracker Barrel with 15 years remaining near Chicago.
      6200 Opportunity Ln, Merrillville, IN 46410
      View Details
    • $1,400,000

      Industrial Building with Showroom

      12,400 SF industrial building with showroom and fenced lot.
      5200 Cleveland St, Gary, IN 46410
      View Details
    • $590,000
      5,581 SF

      High-Traffic U.S. 30 Frontage Flex

      Flex space on U.S. 30 with redevelopment potential.
      2215 W Lincoln Hwy, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Merrillville Office and Warehouse Property

      Large office and warehouse property in Merrillville, Indiana.
      8450 Broadway, Merrillville, IN 46410
      View Details
    • Contact for pricing
      3,298 SF

      Restaurant with Drive-Thru Window

      Restaurant with drive-thru, high visibility, repurposing opportunity.
      1441 E 82Nd Ave, Merrillville, IN 46410
      View Details
    • $375,000
      2.84 Acres

      Merrillville Development Site For Sale

      2.84 acre development site near U.S. 30 and Broadway.
      555 E 84Th Dr, Merrillville, IN 46410
      View Details

    Similar Nearby for Lease

    • Sponsored
      Contact for pricing

      IN, Merrillville - Mississippi St

      Workspaces, services and support to help you work better in IN, Merrillville - Mississippi St
      8396 Mississippi St, Merrillville, IN 46410
      View Details
    • Contact for pricing

      High-Visibility Building on Broadway

      31,000 SF building suitable for retail or flexible business.
      8000 Broadway, Merrillville, IN 46410
      View Details
    • $4,000 /Mo

      NW Indiana Redevelopment Opportunity

      Centrally located building near retail and major redevelopment.
      1441 e 82Nd Ave, Merrillville, IN 46410
      View Details
    • $12 SF/Yr
      1,763 SF

      Merrillville Warehouse with Fenced Lot

      Warehouse with fenced rear lot and easy highway access.
      1402-1454 E 86Th Pl, Merrillville, IN 46410
      View Details
    • $10 SF/Yr
      2,880 SF

      Versatile Flex Spaces Available

      Two flex spaces suitable for office, warehouse, showroom, or retail.
      1561 E 93Rd Ave, Merrillville, IN 46410
      View Details
    • $8 SF/Yr
      3,900 SF

      Warehouse with Interstate 65 Frontage

      3,900 SF warehouse with heating, A/C, and parking.
      1201 E 86Th Pl, Merrillville, IN 46410
      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.
    1995 Southlake Mall
    Merrillville, IN 46410
    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.
    Sign Up Successful!
    You now have access to more from Realmo!