8510 BroadwayMerrillville, IN 46410

Property Details for 8510 Broadway

Lot size

4.59 AC

Property type

Commercial land

APN

45-12-28-226-001.000-030

APU

451228226001000030

Description

This exceptional Class A medical office building, located at 8510-8514 Broadway in Merrillville, Indiana, presents a unique owner-user opportunity. The 14,680-square-foot, two-unit condominium building boasts a prime location, situated on a 1.08-acre lot (APN: 45-12-28-227-004.000-030) and zoned C-3. Built in 1991 with a 2005 addition, the property underwent significant exterior renovations in 2017 (handicap ramp replacement, tuckpointing, parking lot resurfacing) and a roof replacement in 2018. Currently 100% occupied, the building features a thoughtfully designed layout ideal for various medical and professional uses. The ground floor includes reception areas, waiting rooms, exam rooms, procedure rooms, operating rooms, and ample storage. The second floor offers additional office space, a conference room, staff lounge, and laboratory. The seller is relocating and is open to a leaseback arrangement. Property taxes for 2023, payable in 2024, are $49,008.24. This exceptional property benefits from its proximity to major roadways (US Route 30 and I-65), Methodist Hospital, NiSource/NIPSCO headquarters, and numerous banks and restaurants. The asking price is $1,590,000 ($108.31/sq ft).

• Alternative Use

  Use

  Valuation

  Residential

  $73,563,464

  Hospitality

  $67,383,744

  Educational

  $56,062,480

  Medical

  $57,990,556

  Retail

  $87,208,304

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.4634

Longitude

-87.3396

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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