101 90Th DrMerrillville, IN 46410

Property Details for 101 90Th Dr

Year built

1993

Construction

WOOD

Lot size

0.93 AC

Property size (Sq ft)

12,429 SF

Property type

Office properties

APN

45-12-27-304-006.000-030

APU

451227304006000030

Description

This exceptional 12,429 square foot, three-unit office building presents a compelling investment opportunity in Merrillville, Indiana. Located at 101 E 90th Dr, this 1993-built brick structure boasts a strong leasing history with stable, long-term tenants, including a major financial services firm occupying space since 1999 and a regional title company since 2014. The building's prime location in South Merrillville, bordering Crown Point, offers convenient access to major thoroughfares like 90th Drive, Broadway Avenue (SR-53), and US Highway 30. Its proximity to The Ameriplex at the Crossroads and Broadway Methodist Hospital further enhances its appeal. Currently, one unit is available, presenting an owner-occupier opportunity to build equity while generating additional income, or an investor can capitalize on the vacancy to increase rental rates, particularly by attracting a medical office tenant, given the building's suitability for both general office and medical uses. The building features ample parking and prominent marquis signage. The asking price is $1,485,000. The well-maintained building, with recently remodeled occupied suites, offers a professional and welcoming environment for tenants and clients alike.

• CAP approach

  CAP return

  Valuation

  6%

  $3,994,326

  6.5%

  $3,687,070

  7%

  $3,423,708

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,618,877

  Geo Method

  $1,618,877

• Alternative Use

  Use

  Valuation

  Residential

  $4,571,968

  Hospitality

  $4,187,898

  Educational

  $3,484,282

  Medical

  $3,604,112

  Retail

  $5,419,994

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4547

Longitude

-87.3337

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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