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    Property profile & analytics
    OFF-MARKET Estimated value $785,000
    Individual retail properties

    500 81st Ave, Merrillville, IN 46410-5599

    40,062 SF 3.39 ac lot Built 2017
    Entity Owned 21-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US31-3248877
    Property summary
    AI-generated overview

    Ross Commons, a well-maintained Class B office complex in Merrillville, Indiana, offers multiple suites ranging from 1,325 to 6,216 square feet. Located at the highly visible intersection of Merrillville Road and US Highway 30, this 23,296 square foot building boasts excellent accessibility and ample parking (115 spaces), recently resurfaced. The property sits on a 2.5-acre lot and features pylon signage for enhanced visibility. Partial roof replacement was completed in Fall 2020. The building benefits from a Highway Commercial zoning designation and enjoys a prime location near major roadways, including I-65, and numerous amenities such as Walgreens, Meijer, and various restaurants. The property's strong location is further supported by high traffic counts: 49,127 cars daily on US Highway 30 (Eastbound) and 9,747 cars daily on Merrillville Road (Southbound) (2024 INDOT data). Triple net expenses are estimated at $2.75 per square foot. Tenants are responsible for separately metered utilities and janitorial services. The building was constructed in 1973 and has a minimum divisible space of 1,325 square feet with a maximum contiguous space of 6,216 square feet. The APN is 45-12-21-251-014.000-030. Current tenants include a diverse mix of professional businesses.

    Property profile
    Verified
    Property type Individual retail properties
    Use group GYM, HEALTH SPA
    Year built 2017
    Construction TYPE NOT SPECIFIED
    Total area 40,062 SF
    Lot 3.39 ac (147,625 SF)
    APN 45-12-22-152-009.000-030
    UPID US31-3248877
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Dr. Alexander Williams, DDS Dental Office
    • StepUp Insurance IN Insurance Agency
    • Sean Mullins, Attorney At Law Law Firm
    • Med Ed CNA Training Classes Vocational School Training Center
    • Law Offices of Michael Lambert Law Firm
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $785k
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $785k
    Owner & transaction history
    Buffaloville Properties LLC · 21 yrs held
    Buffaloville Properties LLC
    since 2005
    2 recorded transactions
    2005
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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