Industrial Warehouse with Bridge
For Sale
$3,900,000
Pending
1019 E Summit Street, Crown Point, IN 46307
Commercial Sale, Crown Point, IN
Property Size45,966 SF
Lot Size2.50 Acres
Days on Market551
Property Features for 1019 E Summit Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Parking
30
Parking features
Off Street, Open, Oversize
Security features
Security Lighting
Interior features
Ceiling Fan(s), High Ceilings, Eat-in Kitchen, Entrance Foyer
Exterior features
Lighting, Storage, Private Yard
Lot features
Paved, Rectangular Lot, Private, Near Public Transit
View
City
Elementary school district
Crown Point
Middle school district
Crown Point
High school district
Crown Point
Directions
Broadway Avenue to Summit Street, Summit Street (West) to property on (South) side of Summit.
Standard status
Pending
APN
451604301012000041
Size
45,966 SF
Lot size
2.50 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT OF N1/2 R.R. R/W LY'G IN NW1/4 SW1/4 S.4 T.34 R.8 0.137AC
Tax Annual Amount
38804
Legal Description
PT OF N1/2 R.R. R/W LY'G IN NW1/4 SW1/4 S.4 T.34 R.8 0.137AC
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
fully finished offices
forced air heat
air conditioning
employee kitchen area
locker rooms
break rooms
bathrooms
Building Details
Year built
1970
Additional Structures
Storage
Listing Agency:
JK Pro Realty, LLC
(219) 558-0412
Listed By:
Jimmy Karalis · License #RB14035192
(219) 712-1567
Added: Mar 3, 2025
Changed: Sep 2
Last Checked: Sep 5 at 11:06AM
MLS# 816865
Copyright © 2026 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This industrial warehouse property includes a 39,723-square-foot main building and a 6,242-square-foot rear building on 2.5 acres. The main facility offers heated warehouse space, multiple overhead doors and drive-in bays, ceiling heights of 16 feet at the sides and 25 feet at the center, and crane equipment ranging from 1/2 ton to 10 tons. Electrical service is 800A, 240/480v, 3 phase.
Finished office areas include forced-air heat and air conditioning, while employee amenities include a kitchen area, locker rooms, break rooms, and bathrooms. The rear building was built in 1989 and has a 16-foot clear ceiling height. The property is zoned I-1 and is located near I-65 in Crown Point, Indiana. Public water and public sewer serve the property, with off-street, open, and oversized parking available.
Finished office areas include forced-air heat and air conditioning, while employee amenities include a kitchen area, locker rooms, break rooms, and bathrooms. The rear building was built in 1989 and has a 16-foot clear ceiling height. The property is zoned I-1 and is located near I-65 in Crown Point, Indiana. Public water and public sewer serve the property, with off-street, open, and oversized parking available.
Key Highlights
- 39,723‑square‑foot main industrial building with heated warehouse space
- 6,242‑square‑foot rear building built in 1989
- Multiple cranes with capacities ranging from 1/2 ton to 10 tons
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$323,815
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,476,300
$6.5M
Cap Rate 7%
$4,625,929
$4.6M
Cap Rate 9%
$3,597,944
$3.6M
Market Conditions
NOI Build-Up for 45,966 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$402.7K $8.76/SF
− Vacancy
−$21.7K −$0.47/SF
EGI
$381.0K $8.29/SF
− OpEx
−$57.1K −$1.24/SF
NOI
$323.8K $7.04/SF
Area
Lake County, IN
Vacancy
5.39%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$6,476,300
Cap Rate 7%
$4,625,929
Cap Rate 9%
$3,597,944
Alternative Uses
Best Use
Warehouse
$4.63M
$4.05M – $5.40M
NOI $323,815 @ 7.0% cap · market cap 8.30%
Second Best
Industrial
$3.81M
$3.33M – $4.44M
NOI $266,671 @ 7.0% cap · market cap 6.84%
Theoretical Best
Specialty Retail
$12.83M
$11.23M – $14.97M
NOI $898,233 @ 7.0% cap · market cap 23.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
25 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 46307, IN
69,248
Population
26,081
Households
2.7
Avg Household Size
41
Median Age
33%
College-Educated
94%
High-School Grad
87.2 sq mi
ZIP Area
794
Density / Sq Mi
$102,118
Median Household Income
$50,612
Median Earnings
$1,308
Median Rent
$293,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Broadway Mini Storage 24 Hour — 11100 Broadway, Crown Point, IN 46307
- Self Storage — 101 S Main St, Crown Point, IN 46307, United States
- Records Storage Center Inc — 222 Sheridan St, Crown Point, IN 46307, United States
- StorSafe of Crown Point West — 800 E North St, Crown Point, IN 46307
- AB Enterprises, Inc — 1670 E North St, Crown Point, IN 46307
Frequently Asked Questions
What type of property is this?
Warehouse - I-1-zoned warehouse with heated production space, finished offices, overhead doors, and heavy electrical service.
Where is this warehouse located?
The property is located at 1019 E Summit Street Crown Point, IN.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 39,723‑square‑foot main industrial building with heated warehouse space; 6,242‑square‑foot rear building built in 1989; Multiple cranes with capacities ranging from 1/2 ton to 10 tons
