1433 83rd Ave Merrillville, IN 46410-6307
Property profile & analytics
1433 83rd Ave Merrillville, IN 46410-6307
- Office Spaces
- 35,084 SF
- 2.50 lot acres
Property ID
US31-0763251
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- TRADEBE REFINERY SERVICES / Industrial Manufacturer / Production Facility
- Middough / Engineering Consultant
- Tradebe Environmental Services - US HQ Merrillville, IN / Waste Management Facility / Hazardous Waste Disposal
- Capital Engineering Inc / Engineer
Property Details for 1433 83rd Ave
- Year built
- 2000
- Construction
- WOOD
- Lot size
- 2.50 lot acres
- Property size
- 35,084 SF
- Zone code
- R33
- Property type
- Office Spaces
- APN
- 45-12-22-477-001.000-030
- APU
- 451222477001000030
Description
This exceptional investment opportunity presents a fully occupied, two-tenant, Class B office building totaling 33,244 square feet, situated on a 2.5-acre lot in Merrillville, Indiana. Built in 2000, this property boasts a strong 100% occupancy rate, generating a substantial net operating income (NOI) of $421,274, representing an attractive 8.74% cap rate. The asking price is $4,818,263, translating to $144.94 per square foot. The property features a convenient net lease structure with two tenants, providing stable and predictable cash flow. Ample parking is available with 1,100 spaces, serving the two-story building. Located on a high-traffic commercial corridor (approximately 40,000 vehicles per day) with easy access to Interstate 65, this property benefits from its proximity to downtown Merrillville and St. Mary Medical Center. The C-3 zoning allows for a variety of uses. The building's excellent condition and location, combined with the strong tenant base, make this a compelling investment opportunity in a growing submarket within the Chicago Metropolitan Statistical Area. Over 50% of the current tenant base has occupied the space for over nine years, demonstrating long-term commitment and market demand. This presents a rare chance to acquire a stable, high-cash-flow asset with potential for future rental increases.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,928,000
Market price range: $1.81M - $4.65M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $3,225,000 Current use
- RETAIL STORES
- $2,665,000 Change: -17% Conversion: Easy
- WAREHOUSE, STORAGE
- $2,615,000 Change: -19% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Merrillville
- County
- Lake
- State
- Indiana
- Longitude
- -87.3193
- Latitude
- 41.4672
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$46,883
$586,400
$1,657,900
$2,244,300
-
$586,400
$1,657,900
$2,244,300
