521 86Th AveMerrillville, IN 46410

Property Details for 521 86Th Ave

Year built

1979

Construction

TYPE NOT SPECIFIED

Lot size

2.88 AC

Property size (Sq ft)

32,928 SF

Property type

Office properties

Property subtype

Other office properties

APN

45-12-27-103-003.000-030

APU

451227103003000030

Description

This single-story, 32,792 square foot office building in Merrillville, Indiana, offers 12 suites ranging from 1,009 to 13,195 contiguous square feet. Located on a 2.83-acre lot at 521 E 86th Ave, this Class B property, built in 1979 and renovated in 1985, is ideal for a variety of uses, including medical and executive offices. Features include private entries, restrooms, kitchenettes, and conference rooms. The property's flexible suite sizes cater to diverse tenant needs, from small businesses to larger organizations. The building's single-story design provides convenient access and ample parking. Property taxes are $1.41 per square foot. The location in Lake County (APN: 45-12-27-103-003.000-030), with its convenient access to major roadways, makes it an attractive option for businesses seeking a prominent presence in the Merrillville area. This is a prime opportunity for owner-users or tenants seeking flexible and well-appointed office space. Tenant incentives are available.

• CAP approach

  CAP return

  Valuation

  6%

  $10,582,121

  6.5%

  $9,768,111

  7%

  $9,070,389

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,288,872

  Geo Method

  $4,288,872

• Alternative Use

  Use

  Valuation

  Residential

  $12,112,458

  Hospitality

  $11,094,947

  Educational

  $9,230,865

  Medical

  $9,548,329

  Retail

  $14,359,124

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4619

Longitude

-87.331

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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