Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8032 Calumet Ave Munster, IN 46321
    Back to Search
    Property profile & analytics

    8032 Calumet Ave, Munster, IN 46321

    View on Map
    • Turn key restaurants
    • 2,663 SF
    • 0.86 lot acres
    For Lease
    View Listing →
    Freestanding Restaurant Building with Drive-Thru For Lease
    Contact for pricing
    2,692 SF

    Freestanding Restaurant Building with Drive-Thru

    2,692 SF restaurant with drive-thru on 0.86 acres.

    8032 Calumet Ave, Munster, IN
    View Listing
    Property ID
    US31-0702294
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 8032 Calumet Ave

    Year built
    1991
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.86 lot acres
    Property type
    Turn key restaurants
    APN
    45-06-13-484-018.000-027
    APU
    450613484018000027

    Description

    This freestanding restaurant building offers 2,520 square feet on a 0.77-acre lot in Munster, Indiana. Located at 8032 Calumet Avenue, this single-tenant property enjoys exceptional visibility and accessibility. The site benefits from a high volume of daily traffic, boasting proximity to a major thoroughfare, Calumet Avenue, which sees 41,381 vehicles per day. Its strategic location just south of the I-94 interchange (196,362 VPD) further enhances its appeal to potential customers. The property's advantageous position directly across from a Target store provides significant spillover traffic and exposure to a large customer base. This property is situated within a vibrant retail corridor serving Northwest Indiana, offering a strong foundation for a successful restaurant operation. The building is classified as a restaurant and is situated in Lake County, Indiana, with a zip code of 46321. The property's drive-thru feature adds significant convenience for customers. This presents a compelling investment opportunity in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Munster
    County
    Lake
    State
    Indiana
    Longitude
    -87.5093
    Latitude
    41.5673
    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
    $55,146
    $713,700
    $290,900
    $1,004,600
    -
    $713,700
    $290,900
    $1,004,600

    Comparable in this City

    • Value Estimation
      $625,000
      6,477 SF

      9611 Calumet Ave

      RESTAURANT
      9611 Calumet Ave, Munster, IN 46321-2871
      View Details
    • Value Estimation by Request
      2,528 SF

      830 Rdg Rd

      RESTAURANT
      830 Rdg Rd, Munster, IN 46321-1720
      View Details
    • Value Estimation by Request
      3,312 SF

      8102 Calumet Ave

      RESTAURANT
      8102 Calumet Ave, Munster, IN 46321
      View Details
    • Value Estimation by Request
      6,050 SF

      8940 Calumet Ave

      RESTAURANT
      8940 Calumet Ave, Munster, IN 46321-2802
      View Details
    • Value Estimation by Request
      3,490 SF

      8250 Calumet Ave

      RESTAURANT
      8250 Calumet Ave, Munster, IN 46321-1704
      View Details
    • Value Estimation by Request
      2,504 SF

      825 Rdg Rd

      RESTAURANT
      825 Rdg Rd, Munster, IN 46321-1719
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,880 SF

      Freestanding Restaurant on Ridge Road

      3,880 SF restaurant on 0.37 acres with 77 parking spaces.
      745 Ridge Rd, Munster, IN 46321
      View Details
    • Contact for pricing
      3,300 SF

      Calumet Avenue Commercial Condominium Unit

      First-floor condominium unit in a rapidly developing commercial corridor.
      9410 Calumet Ave, Munster, IN 46321
      View Details
    • Contact for pricing

      New Class A Office Space

      New construction office space near retail district and Illinois border.
      10419 Calumet Ave, Munster, IN 46321
      View Details
    • Contact for pricing

      Munster Office Building Investment Opportunity

      3,567 SF office building in Munster, Indiana for sale.
      8146 Calumet Ave, Munster, IN 46321
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Retail/Office Space Available

      Newly constructed space in Munster's commercial corridor, ideal for various uses.
      407 Ridge Rd, Munster, IN 46321
      View Details
    • Contact for pricing
      2,692 SF

      Freestanding Restaurant Building with Drive-Thru

      2,692 SF restaurant with drive-thru on 0.86 acres.
      8032 Calumet Ave, Munster, IN 46321
      View Details
    • Contact for pricing

      Retail Space in Calumet Center

      Endcap retail space in a Target-anchored shopping center.
      7959 Calumet Ave, Munster, IN 46321
      View Details
    • $12 SF/Yr

      Munster Retail and Office Space

      Retail and office space available in Munster's commercial district.
      417-435 Ridge Rd, Munster, IN 46321
      View Details
    • Contact for pricing

      Calumet Avenue Commercial Building

      30,372 SF building ideal for medical, office, or retail.
      10350 Calumet Ave, Munster, IN 46321
      View Details
    • Contact for pricing

      Calumet Avenue Retail Space Available

      New construction retail space in Munster's retail district.
      8130 Calumet Ave, Munster, IN 46321
      View Details
    View Listing
    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.
    8032 Calumet Ave
    Munster, IN 46321
    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

    Thank You for Inquiry
    8032 Calumet Ave, Munster, IN, 46321
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!