The Fairmont Building
$2,499,000
9245 Calumet Avenue, Munster, IN 46321
40,398 sqft
Building Size
2.18 acres
Lot Area
Details:
Description:
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.
Other Highlights
• Currently 65% leased to 22 tenants at $19.00/SF average
• In Place - NOI: $158K | Cap Rate: 6.3% | Price: $2,499,000 ($65.41/RSF)
• Excellent value-add and upside potential leasing at $25/SF - Upper Level and $20/SF - Lower Level
• Potential Income - NOI: $567,287 | Cap Rate: 16.2% | Price: $7,000,000 ($183.21/RSF)
• Prime Calumet Avenue location
• Minutes from Powers and Franciscan Hospitals
• Transom windows throughout
• LED lighting and laminate flooring
• Suitable for office, medical, retail, and service users
• Existing fire suppression riser in place for future sprinkler installation if needed.
Located in a rapidly developing mixed-use campus that integrates office, medical, and unique container architecture. Located on the west side of Calumet Avenue, ½ mile south of Powers Health Hospital, 2 miles south of I-80/94. This property is centrally located for any tenant in the medical and professional industry. Less than one block to the Maple Leaf Crossing complex, which is a mix of office, retail and the Hyatt Place Hotel, 1/4 mile north of the Centennial Village which is a mix of high-end retail and office space. 28 miles southeast of Chicago. INDOT 2025 traffic count on Calumet Ave 30,297/day.
18 Spaces Available
100F LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services.
101 LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 2,694 RSF/2,300 USF
100H LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 491 RSF/249 USF.
103A LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 324 RSF/277 USF.
103B LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 799 RSF/682 USF.
105 LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 931 RSF/795 USF.
107 LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 292 RSF/249 USF.
108 LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 1,832 RSF/1,564 USF.
109 LL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 960 RSF/820 USF.
200C UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 274 RSF/173 USF.
200F UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 652 RSF/412 USF.
200I UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 363 RSF/217 USF.
200L UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 349 RSF/209 USF.
200N UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 1,292 RSF/817 USF.
205 UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 198 RSF/175 USF.
205 UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 1,502 RSF/1,324 USF.
206-UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 860 RSF/826 USF.
200I UL Unknown Sub Type
Gross rental rate $19.00/RSF. Tenant expenses are only utilities estimated at $1.50/USF, premises janitorial and IT services. 363 RSF/217 USF.
Documents:
| Title | ||
|---|---|---|
| Lease Brochure | ||
| Fairmont Floor plans 3.6.2026.pdf | ||
| 25152-FAIRMONT-FLOOR PLANS 072326.pdf | ||
| rendering.html |
Location
