Merrillville, IN
Commercial Real Estate Market Trends & Data

$271 Avg asking sale price
$202 Avg asking lease rate
42,164 SF Avg unit lease size
62,232 SF Avg building size for sale
6.90% Average cap rate

Merrillville's Demographic Profile

Merrillville has 14,211 households and a median income of $62,064, providing context for rent absorption and tenant demand across retail and multifamily assets. A 0% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 35,594
# Households 14,211
Median age 41
Median household income $62,064
Avg household size 2.0
Renter-occupied housing units 5,381
5-year population change 0%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Merrillville, IN

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Nearby Retail Markets Avg Cost/SF Typical Size
Merrillville $413 122,042 SF
Hobart $599 139,815 SF
Winfield $221 6,208 SF
Crown Point $172 10,322 SF
Lake Station $157 8,987 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Merrillville $137 4,471 SF 8.09%
Schererville $137 4,471 SF 8.09%

Commercial Properties For Sale in Merrillville

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Century Plaza

Merrillville, IN 46410

  • 18,215 SF Retail Building
  • 6.76% Cap Rate
  • $6,270,000
For Sale

7205 Broadway

Merrillville, IN 46410

  • 4,812 SF Retail Building
  • $1,650,000
For Sale

Lot #3 Sammy Balicki

Merrillville, IN 46410

  • 12,000 SF Industrial Building
  • $1,860,000
For Sale

1150 W 49th Ave

Gary, IN 46408

  • 11,553 SF Specialty
  • $499,000
For Sale

Vacant Land

Merrillville, IN 46410

  • 0.50 AC Lot
  • 1 Commercial Lot
  • $250,000
For Sale

6190 Broadway

Merrillville, IN 46410

  • 5,924 SF Retail Building
  • $599,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Merrillville pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Merrillville $271 62,232 SF
Hobart $273 55,893 SF
Robertsdale $95 8,600 SF
Winfield $221 6,208 SF
Crown Point $186 8,611 SF

Regional Demographic Comparison

This comparison places Merrillville alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Merrillville or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Hobart 28,299 11,384 40 $67,868 2 3,009 -1%
Winfield 7,954 2,663 40 $118,653 3 144 3%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Merrillville, IN and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Merrillville

View All Commercial Real Estate For Sale in Merrillville
Is Merrillville a good market for a first-time commercial real estate investor?

Merrillville offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Merrillville?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Merrillville. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Merrillville?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Merrillville. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Merrillville compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Merrillville. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Merrillville acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Merrillville, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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