Property profile

1650 W 45Th St D Munster, IN 46321

FOR LEASE
Retail space
Property ID
US31-3323641
22,125 SF 2.1 ac lot Built 1975
Entity Owned 18-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial property, located at 1650 45th Street in Munster, Indiana, presents a unique investment opportunity. The building encompasses a substantial 22,000 square feet of office space, making it ideal for a variety of businesses or potential redevelopment. Situated on a generous 2.1-acre lot, the property offers ample parking and room for expansion. Its strategic location between Indianapolis Boulevard and Calumet Avenue provides excellent visibility and accessibility, ensuring high traffic flow and convenient access for employees and clients. This is a first-time offering, presenting a rare chance to acquire a well-positioned commercial building in a thriving Munster market. The property's size and location make it suitable for a wide range of uses, from corporate offices to medical facilities or other commercial ventures. The substantial lot size also allows for future expansion or development possibilities. Serious inquiries are encouraged to explore this significant commercial real estate opportunity. The asking price is $2,750,000. This represents a compelling investment in a high-demand area with strong growth potential. Don't miss this chance to own a prime commercial property in Munster, Indiana.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1975
Construction TYPE NOT SPECIFIED
Total area 22,125 SF
Lot 2.1 ac (91,476 SF)
APN 45-07-32-103-001.000-027
UPID US31-3323641

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician Medical Clinic
  • Dental Office
  • Dental Office
  • Dental Office
  • Dental Office

Location

1650 W 45Th St, Unit D Munster, IN 46321
Munster metro Census 40402 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$785k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.12M
Blend (final) Blend
$785k

Owner & transaction history

since 2008
4 recorded transactions
2021
Price N/A
2008
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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