Merrillville Office for Sale

257-259 W. 80th Place, Merrillville, Indiana 46410

  • Property Subtypes Office Building
  • Gross Building Area 2,528 SF
  • Building Status Existing
  • Sale Price $276,000.00 Total
  • Property Use Type Investment
  • Class of Space Class A
  • Total Land Size 2.75 Acres
  • Sale Terms Cash to Seller
  • Cap Rate Undisclosed
  • Last Updated 3/31/2020
  • Days on Market 318 Days
  • Status active

Overview / Comments

Located in Federal Park, a 6 building commercial office Planned Unit Development. 1 block west of Broadway (S.R. 53) on the south side of East 80th Place between Broadway and Madison/Merrillville Road. 1/2 mile west of the I-65/U.S. Highway 30 interchange. Directly east of the Merrillville Post Office and close proximity to restaurants, hotels and shopping including Portillo's, Panera Bread, La Carreta, Pepe's, Gino's and Asparagus to name a few. Within the 6 million SF retail trade area surrounding Southlake Mall. Merrillville is the largest town in Indiana, with the third-lowest tax rate in Lake County. 2 blocks west of the proposed Farm at Crossroads Commons, White Lodging's new $350 million development of the former Radisson/Star Theatre/Twin Towers location. This is a 100% leased freestanding 2 story office condominium. Well-built brick and frame construction with shingle roof in Federal Park. This is a 2 unit with 2,000 SF on the main level and 528 SF on the 2nd floor. Long term tenant has five years left on lease with last 2 years as option. Interior features consist of a totally remodeled office (June 2019) with 3 offices, conference room, waiting area, 2 kitchens, 2 main floor restrooms, storage room, second floor bathroom with shower and storage room. 2018 pay 2019 taxes are $4,779.00/$1.89/SF. Federal Park POA CAM is $343.00/month ($1.96/SF). Separate utilities for each side.

Additional Details

  • Tax ID/APN 45-12-21-278-005.000-030
  • Zoning PUD
  • Property Visibility N/A
  • Site Number 257-259

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