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    Retail Suite Near US-41 Title is generated by Realmo AI

    11032 W 96th Place, St John, IN 46373

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    Claim this Listing
    For Lease
    $5,437/Mo $33 SF/Yr (calc)

    COMMERCIAL - St. John, IN

    Type:Retail
    Property size:
    1,977 SF
    Lot size:
    2.09 Acres
    Added:
    Sep 18, 2025
    Days on Market:
    243
    Last Refresh:
    May 18 at 3:06 pm

    Property Features for 11032 W 96th Place

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Exterior features
    Lighting
    Standard status
    Active
    APN
    451133151030000035
    Size
    1,977 SF
    Lot size
    2.09 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Shops 96 1st Amended Plat Lot 2
    Tax Annual Amount
    3111

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    2023

    We can help!

    Listing Contact
    Adriana Gomez

    Listing agent Adriana Gomez License #RB25000377

    Listing office McColly Real Estate 2107 North Calumet Avenue, Schererville, IN

    Listing date Sep 18, 2025

    MLS# 828067

    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.

    HighLights

    • High‑exposure location on the US‑41 corridor with nearby signalized intersection access.
    • Serves a large regional draw including St. John, Schererville, Dyer, Crown Point, and south Chicagoland commuters.
    • Suitable for a variety of uses including retail, restaurant, or service.
    • Warm dark shell condition allows for customized tenant buildout.
    • Located in a multi‑tenant center near national retailers and services.
    • Located in an area with high median household income.

    Overview

    This approximately 1,977 square foot inline retail suite is available for rent. It is delivered in warm dark shell condition within a multi-tenant center. The property is located near US-41 (Wicker Avenue) and benefits from corridor exposure to US-41, with access via a nearby signalized intersection. Shared surface parking is available on site. The location is suitable for retail, restaurant, or service uses, subject to zoning and approvals. The trade area serves St. John, Schererville, Dyer, Crown Point, and south Chicagoland commuters, and reports high median household income. The property is located in St. John, Indiana, in Lake County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Building Supply Gym & Fitness Center Auto Repair Shop Accounting Firm Big Box & Wholesale Store Daycare Center Kitchen & Bath Showroom Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St John
    County
    Lake
    State
    Indiana
    Longitude
    -87.467005
    Latitude
    41.444081

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    FAQs

    What type of property is this?
    Retail space - 1,977 SF retail suite in St. John, Indiana.
    Where is this retail space located?
    The property is located at 11032 W 96th Place St John, IN.
    What is the lease rate?
    The lease rate is $5,437 /Mo.
    What are key features of this property?
    This property features: High‑exposure location on the US‑41 corridor with nearby signalized intersection access.; Serves a large regional draw including St. John, Schererville, Dyer, Crown Point, and south Chicagoland commuters.; Suitable for a variety of uses including retail, restaurant, or service.
    (317) 431-6130
    We can help!
    Listing Contact
    Adriana Gomez
    Real Estate License ID: RB25000377
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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