New search
Property profile & analytics
FOR LEASE
Office Spaces
8683 Connecticut St, Merrillville, IN 46410
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US31-0441141
For Lease
1 / 3
$875,000
8683 Connecticut St, Merrillville, IN 46410
View Listing →
Property summary
AI-generated overview
This single-story, 10,750-square-foot Class B medical office building in Merrillville, Indiana, is available for $699,000 ($65.02/SF). Located at 8683 Connecticut St, 46410, this property sits on a 1.55-acre lot and is zoned C5. Built in 1987, the building comprises four separate office suites, currently vacant with an occupancy date of June 14, 2024. Its advantageous location directly north of Methodist Hospital offers excellent visibility and accessibility. Ample parking is available. Importantly, this property is independent of the neighboring Property Owners Association, providing operational autonomy. The building presents a compelling investment opportunity for medical providers or investors seeking a well-positioned, sizable medical office space in a thriving area. The property's APN is 45-12-27-128-001.000-030. This is a prime opportunity to acquire a substantial medical office building in a high-demand location.
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1983
Construction
TYPE NOT SPECIFIED
Total area
10,750 SF
Lot
1.55 ac (67,431 SF)
APN
45-12-27-103-004.000-030
UPID
US31-0441141
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
-
Family Health & Wellness Center Physician
-
Brown III John S MD Pediatrician Physician
-
Four Seasons Medical Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$875k
Owner & transaction history
Ldcp Real Estate LLC
Ldcp Real Estate LLC
since 2025
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Merrillville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrillville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$990,000
Current use
RETAIL STORES
$815,000
Change: -17% · Conversion: Easy
WAREHOUSE, STORAGE
$800,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$875k
Range $788k – $963k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$81 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$17,347
Tax year 2022
Assessed value
$830,400
Assessed 2023
Previous assessed
$830,400
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$380,400
Assessed improvement
$450,000
Land market value
$380,400
Improvement market value
$450,000
Total market value
$830,400
Applied tax rate
30.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
For Lease
Year built
1983
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Total area
10,750 SF
Lot
1.55 ac (67,431 SF)
APN
45-12-27-103-004.000-030
UPID
US31-0441141
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$990,000
RETAIL STORES
Est. value
$815,000
WAREHOUSE, STORAGE
Est. value
$800,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Ldcp Real Estate LLC
Entity
Mailing address
140 WESTCHESTER LN, VALPARAISO, IN 46385-8039
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2025
$585,000
Ldcp Real Estate LLC
Trust No 3329
Deed
$956,815 · Peoples Bank
Dec 11, 2018
—
Indiana Land Trust Company
—
Deed
related
$70,000 · Peoples Bank Sb
May 4, 2016
—
Indiana Land Trust Co
—
Deed
related
$113,000 · Peoples Bank Savings Bank
—
—
Trust 3329
—
Deed Of Trust
related
$40,000 · Peoples Bk
—
—
Trust 3329
—
Deed Of Trust
related
$250,000 · Peoples Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
