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Fairmont Office Center 9245 Calumet Ave 39,263 SF 65% Leased Office Building Munster, IN 46321 $2,499,000 ($63.65/SF) 6.34% Cap Rate
Investment Highlights
- Currently 65% leased to 22 tenants at $19.00/SF average
- Potential Income - NOI: $567,287 | Cap Rate: 16.2% | Price: $7,000,000 ($183.21/RSF)
- Minutes from Powers and Franciscan Hospitals
- Excellent value-add and upside potential leasing at $25/SF - Upper Level and $20/SF - Lower Level
- Prime Calumet Avenue location
- Transom windows throughout
Executive Summary
Discover the opportunity to acquire 9245 Calumet Avenue, a multi-tenant commercial property located in Munster's premier commercial corridor. Currently 65% leased to 22 tenants, the property offers immediate income with substantial value-add potential. Short-term leases allow for a change of use.
Built in 1978 originally as a health and racquetball club, renovated in 1988 and 2024, the building features modern interior upgrades, a freestanding digital directory, a handicap-accessible lift, and 118 on-site parking spaces. Its proximity to major healthcare providers, retailers, and residential neighborhoods makes it an attractive opportunity for investors and owner-users alike.
Built in 1978 originally as a health and racquetball club, renovated in 1988 and 2024, the building features modern interior upgrades, a freestanding digital directory, a handicap-accessible lift, and 118 on-site parking spaces. Its proximity to major healthcare providers, retailers, and residential neighborhoods makes it an attractive opportunity for investors and owner-users alike.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
39,263 SF
Building Class
C
Year Built/Renovated
1978/1988
Price
$2,499,000
Price Per SF
$63.65
Cap Rate
6.34%
NOI
$158,374
Percent Leased
65%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
19,632 SF
Building FAR
0.41
Lot Size
2.18 AC
Zoning
C - Commercial
Parking
110 Spaces (2.8 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 45-07-30-154-002.000-027 | Improvements Assessment | $1,844,300 |
| Land Assessment | $485,100 | Total Assessment | $2,329,400 |
Property Taxes
Parcel Number
45-07-30-154-002.000-027
Land Assessment
$485,100
Improvements Assessment
$1,844,300
Total Assessment
$2,329,400
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Map
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Contact the Sale Advisor
Fairmont Office Center | 9245 Calumet Ave