5401 BroadwayMerrillville, IN 46410

Property Details for 5401 Broadway

Year built

1974

Construction

WOOD

Lot size

0.80 AC

Property size (Sq ft)

15,120 SF

Property type

Office properties

APN

45-12-03-104-001.000-031

APU

451203104001000031

Description

Executive Plaza, located at 5401-5443 Broadway in Merrillville, Indiana, offers flexible office spaces ideal for businesses seeking a prime location. This Class B building totals 15,120 square feet and features three available suites ranging from 650 to 1,100 contiguous square feet, with a total of 2,750 square feet currently vacant. The property boasts a convenient location directly across from a Save A Lot grocery store and numerous national retailers within a one-mile radius. Its corner lot position at Broadway and 54th provides excellent visibility, enhanced by pylon signage on Broadway. Ample parking is available, including an overflow lot. The building offers turnkey spaces with competitive lease rates. Net, Net, Net (NNN) expenses are currently estimated at $4 per square foot. The property sits on a 0.8-acre lot in Lake County, within easy access to US Route 30 and Interstate 65, serving the Chicago metropolitan area. This is a great opportunity for businesses seeking efficient, well-maintained office space in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $4,859,137

  6.5%

  $4,485,358

  7%

  $4,164,975

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,969,380

  Geo Method

  $1,969,380

• Alternative Use

  Use

  Valuation

  Residential

  $5,561,843

  Hospitality

  $5,094,618

  Educational

  $4,238,662

  Medical

  $4,384,437

  Retail

  $6,593,475

Location Insight

City

Merrillville

County

Lake

State

Indiana

Latitude

41.5197

Longitude

-87.3357

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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