8300 BroadwayMerrillville, IN 46410

Property Details for 8300 Broadway

Year built

1978

Construction

TYPE NOT SPECIFIED

Lot size

1.21 AC

Property size (Sq ft)

17,255 SF

Property type

Medical offices

Property subtype

Medical centers

APN

45-12-21-476-005.000-030

APU

451221476005000030

Description

This exceptional 2,164 square-foot medical office suite, located at 8300 Broadway in Merrillville, Indiana, 46410, is available for lease. Situated within a Class B, two-story building totaling 17,412 square feet, this single-tenant space underwent a complete renovation in 2020. The suite boasts desirable features including a well-equipped kitchen/breakroom, ample storage, a private restroom, and two medical exam rooms plus a dedicated lab area. The building offers 87 parking spaces, ensuring convenient access for patients and staff. Recent building improvements include modernized restrooms, new hallway flooring, updated office suites with fresh paint and flooring, and energy-efficient LED lighting for enhanced visibility. The HVAC system has been recently replaced, guaranteeing a comfortable climate year-round. Furthermore, a new pylon sign has been installed to increase street presence. The property sits on a 1.21-acre lot and was originally constructed in 1978. This is an ideal opportunity for medical professionals seeking a modern, well-maintained space in a convenient location. The building is zoned for executive and medical office use. Currently, 2,164 square feet are vacant within the building's total 17,412 square feet.

• CAP approach

  CAP return

  Valuation

  6%

  $5,545,265

  6.5%

  $5,118,706

  7%

  $4,753,084

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,247,464

  Geo Method

  $2,247,464

• Alternative Use

  Use

  Valuation

  Residential

  $6,347,196

  Hospitality

  $5,813,998

  Educational

  $4,837,178

  Medical

  $5,003,536

  Retail

  $7,524,498

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4666

Longitude

-87.3367

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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