8001 BroadwayMerrillville, IN 46410

Property Details for 8001 Broadway

Year built

1992

Construction

TYPE NOT SPECIFIED

Lot size

2.81 AC

Property size (Sq ft)

48,916 SF

Property type

Office properties

APN

45-12-22-152-001.000-030

APU

451222152001000030

Description

This exceptional Class A office building, Merrillville Corporate Center, offers two available suites in a highly desirable location at 8001 Broadway, Merrillville, IN 46410. The building boasts approximately 47,148 rentable square feet, situated on a 2.81-acre lot and built in 1992. Suites range from 1,355 to 7,569 square feet, providing flexibility for various business needs. Suite 102, a prominent 2,153-2,253 square foot space, features six offices, a conference room, storage/copy room, and reception area. Suite 303 offers 2,820-3,266 square feet with five offices, a break area, two file rooms, a conference room, five cubicles, and a reception/waiting area. Both suites include upgraded finishes such as new parabolic lighting, perforated vertical blinds, and solid full-height doors. The building provides convenient amenities including two elevators and ADA-compliant bathrooms. High-speed fiber optics are available through AT&T. The building enjoys a prime location, with excellent visibility and accessibility. It's situated on the southeast corner of Broadway and 80th Place, one block east of Broadway (SR 53), one-half mile west of I-65, and only one stoplight north of US Highway 30. A 2020 INDOT traffic count showed 15,373 cars per day on Broadway north of US Highway 30. The building is also within walking distance of numerous restaurants and amenities. Triple net expenses, including heat, air conditioning, and five-day janitorial service, are estimated at $10.80 per square foot, plus an estimated $1.00 per square foot for separately metered lights and outlets (CAM @ $8.00/sf

• CAP approach

  CAP return

  Valuation

  6%

  $15,720,208

  6.5%

  $14,510,962

  7%

  $13,474,464

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,371,309

  Geo Method

  $6,371,309

• Alternative Use

  Use

  Valuation

  Residential

  $17,993,592

  Hospitality

  $16,482,034

  Educational

  $13,712,859

  Medical

  $14,184,465

  Retail

  $21,331,114

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4729

Longitude

-87.3347

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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