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The Colony's Professional Building 521 E 86th Ave

32,792 SF 82% Leased Office Building Merrillville, IN 46410 $2,399,000 ($73/SF) 7.04% Cap Rate

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Investment Highlights

±32,792 SF Single Story Office on 2.83 AC
Private Entry | Private Restrooms
Ample Parking | 138 Spaces

Executive & Medical Offices
Low Lake County Taxes ($1.41/SF)
Monumental Signage

Executive Summary

SVN is pleased to present The Colony's Professional Office Building at 521 E. 86th Avenue in Merrillville, Indiana. This ±32,792 SF single-story free-standing brick office building is on 2.83 AC. This property features 12 executive and medical suites and many office configurations for a variety of tenant sizes and use requirements. Private entry, restroom, kitchenette, conference room, co-working space, and signage. Priced below replacement cost. Perfect opportunity for owner/user, medical/dental professional, executive office user, or investor.

Sale Brochure

Property Facts

Sale Type

Investment or Owner User

Property Type

Office

Property Subtype

Medical

Building Size

32,792 SF

Building Class

Year Built/Renovated

1979/1985

Price

$2,399,000

Price Per SF

$73

Cap Rate

7.04%

NOI

$168,882

Percent Leased

82%

Tenancy

Multiple

Building Height

1 Story

Typical Floor Size

32,792 SF

Building FAR

0.27

Land Acres

2.83 AC

Parking

45 Spaces (1.37 Spaces per 1,000 SF Leased)

Space Availability

1st Fl-Ste F
1,125 SF
Office/Medical
-
Now

Medical or Executive Office

1st Fl-Ste I
1,009 SF
Office/Medical
-
Now

Medical or Executive Office

1st Fl-Ste S
2,625 SF
Medical
-
Now

Medical or Executive Office

1st Fl-Ste V
1,200 SF
Medical
-
Now

Medical or Executive Office

1st Fl-Ste Z
13,195 SF
Medical
-
30 Days

Medical or Executive Office

Space	Size	Space Use	Condition	Available
1st Fl-Ste F	1,125 SF	Office/Medical	-	Now
1st Fl-Ste I	1,009 SF	Office/Medical	-	Now
1st Fl-Ste S	2,625 SF	Medical	-	Now
1st Fl-Ste V	1,200 SF	Medical	-	Now
1st Fl-Ste Z	13,195 SF	Medical	-	30 Days