Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8679 Connecticut St Merrillville, IN 46410-6386
    Back to Search
    Property profile & analytics

    8679 Connecticut St Merrillville, IN 46410-6386

    View on Map
    • Medical Office Space
    • 7,700 SF
    • 1.14 lot acres
    Off-Market
    Property ID
    US31-0935416
    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

    • Magno Medical LLC / Medical Clinic
    • Magno Medical LLC: Magno Elizabeth H MD & Magno Fausto O MD / Physician / Medical Clinic
    • Retina Vitreous Associates / Ophthalmologist
    • Dr. Elizabeth H. Magno, MD / Pediatrician / Medical Clinic
    • Tennis Courts / Sports Field & Court / Sports School

    Property Details for 8679 Connecticut St

    Year built
    1980
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.14 lot acres
    Property size
    7,700 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    45-12-27-128-002.000-030
    APU
    451227128002000030

    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
    Merrillville
    County
    Lake
    State
    Indiana
    Longitude
    -87.3306
    Latitude
    41.4605
    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
    $10,027
    $301,500
    $178,500
    $480,000
    -
    $301,500
    $178,500
    $480,000

    Comparable in this City

    • Value Estimation by Request
      12,040 SF

      300 80th Pl

      MEDICAL BUILDING • 12,040 SF
      300 80th Pl, Merrillville, IN 46410-5456
      View Details
    • Value Estimation by Request
      12,578 SF

      200 80th Pl

      MEDICAL BUILDING • 12,578 SF
      200 80th Pl, Merrillville, IN 46410-5671
      View Details
    • Value Estimation by Request
      9,700 SF

      1479 84th Pl

      MEDICAL BUILDING • 9,700 SF
      1479 84th Pl, Merrillville, IN 46410-6451
      View Details
    • Value Estimation
      $580,000
      13,032 SF

      255 90th Dr

      MEDICAL BUILDING • 13,032 SF
      255 90th Dr, Merrillville, IN 46410-8144
      View Details
    • Value Estimation
      $520,000
      16,568 SF

      8903 Broadway, Unit 39

      MEDICAL BUILDING • 16,568 SF
      8903 Broadway, Merrillville, IN 46410-7039
      View Details
    • Value Estimation by Request
      9,524 SF

      9205 Broadway

      MEDICAL BUILDING • 9,524 SF
      9205 Broadway, Merrillville, IN 46410-7056
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,300 SF

      Medical Office Condo For Sale

      8,300 SF medical office condo in central location.
      8528 Broadway, Merrillville, IN 46410
      View Details
    • $375,000
      2.84 Acres

      Merrillville Development Site For Sale

      2.84 acre development site near U.S. 30 and Broadway.
      555 E 84Th Dr, Merrillville, IN 46410
      View Details
    • Contact for pricing
      17,220 SF

      Environ Professional Center For Sale

      Two medical office buildings near Southlake Methodist Hospital.
      8695 Connecticut St, Merrillville, IN 46410
      View Details
    • $1,490,000
      2,500 SF

      Medical Office Suites Available

      Professional medical office suites with modern amenities and ample parking.
      200-250 E 90Th Dr, Merrillville, IN 46410
      View Details
    • Contact for pricing
      10,750 SF

      Medical Office Building For Sale

      Medical office building near Methodist Hospital with ample parking.
      8683 Connecticut St, Merrillville, IN 46410
      View Details
    • $2,350,000
      17,220 SF

      Medical Office Buildings Near Hospital

      Two medical office buildings near Southlake Methodist Hospital for sale.
      8695 Connecticut St, Merrillville, IN 46410
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      32,792 SF

      Merrillville Office Building

      Executive & Medical Suites Available
      521 86Th Ave, Merrillville, IN 46410
      View Details
    • $16 SF/Yr
      16,660 SF

      Spacious Building on Route 30

      16,660 SF building suitable for medical or commercial use.
      4200 W Lincoln Hwy, Merrillville, IN 46410
      View Details
    • Contact for pricing
      21,615 SF

      Merrillville Assisted Living Facility Space

      21,615 SF residential facility, previously an assisted living facility.
      300 W 89Th Ave, Merrillville, IN 46410
      View Details
    • Contact for pricing

      Medical Office Space Sublet

      4,000 SF medical office space available for sublet.
      255 e 90Th Dr, Merrillville, IN 46410
      View Details
    • $17 SF/Yr
      2,212 SF

      Medical Office Space Available

      2,212 SF medical office space in Merrillville, Indiana.
      120 E 90Th Dr, Merrillville, IN 46410
      View Details
    • $19 SF/Yr

      Medical Office Sublet Opportunity

      Medical office sublet on Methodist Hospital Southlake campus.
      311 East 89Th Ave, Merrillville, IN 46410
      View Details
    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.
    8679 Connecticut St
    Merrillville, IN 46410-6386
    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
    8679 Connecticut St, Merrillville, IN, 46410
    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!