8691 Connecticut StMerrillville, IN 46410

Property Details for 8691 Connecticut St

Year built

1978

Construction

TYPE NOT SPECIFIED

Lot size

1.11 AC

Property size (Sq ft)

6,942 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

45-12-27-103-005.000-030

APU

451227103005000030

Description

This 7,118 square foot medical office building, part of the five-building Environ Professional Center complex, offers a prime location adjacent to Southlake Methodist Hospital in Merrillville, Indiana. The building boasts a beautiful brick exterior and is ideally suited for medical, dental, and other professional tenants. Currently, one suite is available for lease; Suite C, a 1,034 square foot space featuring two offices and a reception/waiting area. Gross rent includes real estate taxes, insurance, and common area maintenance (CAM) expenses; tenants are responsible for separately metered utilities and janitorial services. The property enjoys excellent access, situated a half-mile southwest of the I-65/US Highway 30 interchange and one block east of Broadway (SR 53), with convenient access via 86th Avenue or Southlake Methodist Hospital Drive. The complex provides 77 total parking spaces. The building is zoned C-5 and is located within a thriving medical campus environment, close to shopping, restaurants, and other amenities. Merrillville offers a desirable location with the third-lowest tax rate in Lake County. This is a fantastic opportunity for a medical practice seeking a well-located, move-in ready space.

• CAP approach

  CAP return

  Valuation

  6%

  $2,230,961

  6.5%

  $2,059,349

  7%

  $1,912,252

• Comparable approach

  Method

  Valuation

  Relative Method

  $904,196

  Geo Method

  $904,196

• Alternative Use

  Use

  Valuation

  Residential

  $2,553,592

  Hospitality

  $2,339,077

  Educational

  $1,946,084

  Medical

  $2,013,013

  Retail

  $3,027,242

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4607

Longitude

-87.3317

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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